Ethereum co-founder Vitalik Buterin is hopeful that crypto markets will learn lessons from the brutal price crash they witnessed and will stop clinging to every Tweet Elon Musk makes.
In a CNN interview, Buterin explained the Tesla chief spreading the word about the crypto space through his Twitter account is one thing the digital currency sector has only known for the first time “literally last year and this year.”
During his video appearance, he said, “I think it’s reasonable to expect a bit of craziness. But I do think that the markets will learn. Elon is not going to have this influence forever.”
With this, Buterin believes the market will establish an immune system of sorts over time but also admitted that the space is vulnerable to disruptive events.
Buterin thinks Musk has no mal-intent
In the same interview, Buterin argued the current generally perceived idea that Musk’s bitcoin and dogecoin-related activities have ill intentions.
He elaborated that despite being a multi-billionaire and founder of Tesla and SpaceX, Musk is still a human who gets excited. For that, the Ethereum figurehead dismissed any idea that Musk has malevolent intent for any of his crypto-related actions, especially those that made bitcoin prices fall tremendously, with almost all of altcoins the following suit.
Buterin speaks about regulatory issues
Speaking about the lingering regulatory issues that are constantly faced by cryptocurrencies, Buterin said it is important to listen to regulators and for crypto players to do their best in addressing these concerns.
He also ruled out the possibility of government efforts to completely ban crypto, claiming doing that will be extremely hard and less realistic. He argued for his position by saying “governments can’t completely take protocols down.”
Buterin, though, admitted that governments have the power to make it more painful to participate in the crypto sector.
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