Joseph Lubin Says Vitalik Buterin Is Wrong About Bitcoin Ceiling: 'There's So Much Growth Ahead'

Samantha Chang

Ethereum founder Joseph Lubin disagreed with Ethereum co-founder Vitalik Buterin's assessment that the days of explosive growth in the blockchain and cryptocurrency industry are waning.

Lubin, 53, said while Buterin, 24, is "brilliant," he believes the sky is the limit for virtual currencies because the crypto ecosystem is at the beginning of its evolution, and there's exponential growth ahead.

Lubin, whose net worth reportedly tops $1 billion, said blockchain, the technology underpinning bitcoin, is young and so are cryptocurrencies. Once people start to grasp how revolutionary the digital technologies are, they will really take off.

"The technology is still relatively immature," Lubin said. "But there's going to be so much evolution in this space, and everything that's an asset right now is probably going to have representation as a crypto asset at some point in the future. So there's just so much growth ahead."

"The blockchain space is getting to the point where there's a ceiling in sight," Buterin said. "If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn't an opportunity for yet another 1,000-times growth in anything in the space anymore."

"[We have to] go from just people being 'interested' to real applications of real economic activity," Buterin said.

"The booms actually bring a lot of attention to our space, lots of technologists, entrepreneurs, and consumers," Lubin said. "So those are great. We are actually seeing a great amount of activity right now because of the boom that happened."