Ethereum’s co-founder and ConsenSys CEO, Joseph Lubin, has stirred the crypto waters with a bold proclamation. On August 30, Lubin argued that Ethereum’s value could multiply by a staggering 100 times, powered by Wall Street’s anticipated embrace of the blockchain. This prediction, he says, could eventually see Ethereum surpass Bitcoin’s monetary base—a concept known in crypto circles as “the flippening.”
Wall Street on Ethereum Rails?
Lubin’s vision suggests that major financial institutions will soon pivot heavily towards Ethereum. He sees a future where these giants “stake, run validators, and operate L2s/L3s,” thereby embedding themselves deeper into the Ethereum ecosystem. JPMorgan, already dabbling in Ethereum since 2014, could be a harbinger of this shift. Lubin confidently aligns himself with Fundstrat’s Tom Lee, although he believes Lee’s bullish stance doesn’t go far enough. “But the real problem,” Lubin quips, “is that it is not possible to be bullish enough.” This optimism is echoed in recent trends, as detailed in Ethereum Outpaces Bitcoin as ETF Inflows Top $1.2 Billion Amid Market Lull.
This optimism isn’t without its critics, though. Some analysts question whether Ethereum’s infrastructure can handle such a massive influx without hitting scalability snags. Lubin, however, dismisses the scaling concerns, predicting that narratives about Layer 2 solutions cannibalizing Layer 1 will soon crumble. He points to ConsenSys’ Linea network and a new “Proof-of-Burn” initiative as examples of how Ethereum’s base layer could be fortified.
The BETH Initiative: A New Era?
Enter BETH, a concept introduced by the Ethereum Community Foundation. This new token could change Ethereum’s economic game. Each BETH token represents burned ETH, creating a scarcity-driven asset that can’t be converted back to its original form. This, Lubin argues, makes burning—a traditionally destructive act—a productive one. The contract for BETH ensures that each issuance corresponds to provably destroyed ETH, with no redemption path back, emphasizing alignment with scarcity.
Lubin envisions derivative layers such as BBETH and BBBETH—akin to Bitcoin’s early “colored coins” but natively integrated within Ethereum’s ecosystem. These could become specialized assets, potentially unlocking new economic models and governance structures. “One could think of [BBETH/BBBETH] as a more refined element of ‘cracked ETH’… more scarce,” Lubin suggests, pointing to games and other niche economies as potential use cases.
Yet, skepticism lingers. “Would there be a growing demand for BETH as it takes on signaling and voting power in many different contexts?” Lubin muses. This question taps into broader uncertainties about whether Ethereum’s evolving tokenomics will align seamlessly with institutional needs.
Looking Forward: A Cautious Optimism
Tom Lee, whose latest analysis paints Ethereum as a major macro investment opportunity, agrees with Lubin on the sector’s bright future. Lee underscores the migration of Wall Street’s operational stack to blockchain platforms, fueled by compliance-friendly investment vehicles like ETFs and staking rails. Both Lubin and Lee communicate periodically to align their strategies, despite competing in distinct niches. This trend is further highlighted by significant market movements, such as those discussed in Bitcoin Whale Turns To Ethereum, Drives $3.5 Billion In Crypto Transactions.
As of today, Ethereum’s trading at $4,399, showing resilience amid volatile markets. Yet, the road to Lubin’s “100x” vision is fraught with challenges. Regulatory scrutiny, technological hurdles, and market dynamics could all influence whether Ethereum achieves this ambitious growth trajectory.
In the end, while Lubin’s forecast is undeniably audacious, it raises questions about the future of digital finance. Will Ethereum truly reshape Wall Street’s infrastructure, and can it outpace Bitcoin in the process? The answers remain uncertain, but one thing is clear: the conversation is far from over.
Source
This article is based on: Ethereum Will ‘Likely 100x From Here,’ Says Joe Lubin
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
