The crypto world has been stunned by the latest slump in popular coins. From Bitcoin, the world's largest cryptocurrency, to the meme-inspired cryptocurrency, Dogecoin, cryptocurrencies have seen their prices plummet.
Despite the volatility nature of the cryptocurrencies, Blockchain, DeFi, NFT, Token Model Architecture Influencer Eloisa Marchesoni believes that cryptocurrencies will replace fiat currencies in the near future and the world is going towards a cashless society.
"I still believe that Bitcoin will not be the currency officially replacing all of the USD, Euro and other fiat currencies but rather we will see ourselves pay everyday with Ethereum based coins," said Marchesoni.
Ethereum is the second-biggest digital currency, which soared above $4000 in May.
"...Bitcoin will be the new electronic gold upon which will base a new global economy. So, bitcoin will be in the reserve of the institutions and central authorities, which will still be there…," she said. "Also, Bitcoin will be close to zero risk asset that big investors will keep in the wallet."
"Instead Ethereum will serve as a basis for the development of CBDCs (Central Bank Digital Currency)…, which will serve as the coins we will pay taxes in," she added.