Canary Capital CEO Bullish on Bitcoin, Bearish on Ethereum’s Long-Term Prospects

Canary Capital CEO Steven McClurg predicts Bitcoin will soar to $140K–$150K in 2025, fueled by robust institutional demand and growing mainstream adoption. He attributes Bitcoin’s momentum to its status as a store of value and increasing integration into financial systems. However, McClurg is skeptical about Ethereum’s future, labeling its technology outdated and questioning its ability to maintain relevance amid rising competition from newer blockchain platforms. He argues Ethereum’s scalability issues and high gas fees could hinder its long-term growth, despite recent upgrades like the Merge.

Contrasting McClurg’s view, some analysts remain optimistic about Ethereum, citing its unrivaled developer ecosystem and dominance in decentralized finance (DeFi) and NFTs. They project Ethereum could reach $8K–$10K by year-end, driven by ongoing innovations like sharding and layer-2 solutions that address scalability concerns. These analysts argue Ethereum’s network effects and first-mover advantage in smart contracts make it resilient, even as competitors like Solana and Cardano gain traction.

The debate underscores a broader divide in the crypto market: Bitcoin’s simplicity as “digital gold” versus Ethereum’s complex, application-driven ecosystem. Institutional inflows, regulatory clarity, and technological advancements will likely shape both assets’ trajectories. While Bitcoin’s path seems clearer, Ethereum’s future hinges on its ability to evolve.

Will Ethereum’s developer community and upgrades keep it competitive, or will newer blockchains overshadow it by 2026?