Ethereum co-founder and Consensys founder Joseph Lubin has made one of his boldest predictions yet, arguing that Ether (ETH) could ultimately flip Bitcoin as the world’s “monetary base” once Wall Street fully embraces decentralized finance infrastructure. Lubin believes that the scale of institutional adoption now underway will not only transform how traditional finance operates but could also trigger a 100-fold surge in Ether’s value.

In a recent post on X, Lubin explained why large financial institutions will inevitably stake Ether. At present, banks and asset managers spend enormous sums to maintain their own closed, fragmented systems—separate layers of software, settlement processes, and compliance infrastructure. Ethereum, he said, offers a unified alternative: a decentralized network that can replace “much of the many siloed stacks they operate.” By shifting to Ethereum, institutions can drastically reduce costs while gaining access to programmable, real-time financial rails.

According to Lubin, this transition will drive unprecedented demand for ETH, since the asset is required to participate in staking and to secure the network. He foresees a future where banks, brokers, and asset managers won’t simply hold ETH as a passive investment but will actively operate as TradFi institutions on decentralized rails. That means running validators, building and deploying their own layer-2 networks, integrating directly with DeFi protocols, and writing smart contracts to automate everything from agreements and settlements to the issuance of complex financial instruments.

Lubin emphasized that this isn’t a small evolutionary step—it represents a structural overhaul of global finance. He argued that as more firms integrate Ethereum’s staking and DeFi systems, ETH will no longer just be seen as a speculative asset. Instead, it will become a productive, yield-bearing, and foundational commodity underpinning the world’s financial infrastructure. In that role, Lubin believes, Ether has the potential not only to rival Bitcoin but to ultimately surpass it as the monetary base for the decentralized economy of the future.

Ether’s Long Road to Surpass Bitcoin

Ethereum co-founder Joseph Lubin has once again reiterated his confidence that Ether will eventually surpass Bitcoin in terms of network value, aligning himself with the outlook of Fundstrat Global Advisors managing partner Tom Lee. In August, Lee predicted that Wall Street’s adoption of Ethereum—through staking and decentralized finance (DeFi) integration—would push ETH past Bitcoin. Lubin agreed, stating, “Yes, Ethereum/ETH will flippen the Bitcoin/BTC monetary base.”

ETH as the “Highest Octane” Trust Commodity

Lubin, who also chairs Sharplink Gaming, one of the largest Ethereum treasury holders globally, went further by arguing that Lee’s bullish forecast still underestimates the network’s true potential. He described Ether as the “highest octane decentralized trust commodity” and suggested that few can fully grasp how transformative Ethereum’s decentralized economy could become. According to Lubin, a world infused with hybrid human-machine intelligence operating on Ethereum’s “Trustware” could expand at a pace and scale beyond current imagination.

This perspective is resonating with parts of the institutional world. Nassar Achkar, Chief Strategy Officer at CoinW, noted that Lubin’s call for Ethereum to flip Bitcoin is already gaining traction among institutional clients. Increasingly, large firms are allocating treasury assets to ETH not only for its long-term value but also for its staking yield potential and growing role in tokenization ecosystems.

Bitcoin Still Leads, But Ethereum’s Programmability Is Key

While Bitcoin continues to dominate as the world’s most recognized store of value, Ethereum’s programmability may prove decisive. Achkar emphasized that Wall Street’s adoption of Ethereum’s staking and DeFi rails could accelerate the so-called “flippening,” positioning ETH both as a productive, yield-bearing asset and as the underlying layer of global financial infrastructure.

Explosive Stablecoin Growth on Ethereum

Meanwhile, Ethereum’s role as a settlement and payments layer is being reinforced by the exponential growth of stablecoins. According to Token Terminal, the total stablecoin supply on Ethereum has surpassed $160 billion, more than doubling since January 2024 and hitting an all-time high. This reflects a broader shift in demand for blockchain-based settlement and liquidity, with Tom Lee commenting shortly after that “stablecoin demand seems exponential on Ethereum.”

Stablecoin supply on Ethereum has surged. Source: Token Terminal

Market Response

Ether itself saw modest gains over the weekend, briefly testing resistance at the $4,500 level before pulling back below $4,400 in early Monday trading. Despite the short-term volatility, Lubin’s vision underscores a growing belief that Ethereum could transform from a programmable blockchain into the financial backbone of the global economy, redefining the hierarchy of digital assets in the process.