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Why Ethereum Co-Founder Vitalik Buterin Is The Janet Yellen Of Crypto Markets

Why Ethereum Co-Founder Vitalik Buterin Is The Janet Yellen Of Crypto Markets

Written by Staff

Dec 14, 2017

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Alan Greenspan, Ben Bernanke and Janet Yellen were considered the most powerful bankers in the old fiat world — a world controlled by elitist central bankers who promiscuously printed money and manipulated policies that promoted income inequality.

Markets would closely watch them for signals and guidance on where U.S. economic policies were heading, impacting stocks, real estate, bonds, and foreign exchange.

If the blockchain vision and potential are realized, we can expect markets to move based on influential actors in crypto markets.

Market participants will look to influential personalities and institutions to better understand where the where crypto markets are heading.

They’ll look to crypto experts for technology updates, expanded wallet and platform distribution of coins — like a new coin added to Coinbase. They’ll look to crypto experts for community unity and the potential for hard forks, regulation, and supply/demand perspectives.

Image: TechCrunch / Flickr

In terms of a single personality, there is no more influential leader in the crypto markets than Vitalik Buterin, the visionary co-founder of Ethereum.

The old bond fund investor may be watching what Yellen has to say. His geeky son is watching the new “bankers of crypto.” The very early innings of a generational and structural transition are taking place.

Crypto purists will say Yellen is a bad example. The outgoing chairwoman of the Federal Reserve works for a central bank while Ethereum is decentralized. However, within the decentralized crypto communities, there are individuals and groups who hold sizeable influence on where crypto markets are heading.

Buterin is a Russian-born programmer and writer based in Toronto. Now 23, he co-founded the online news website Bitcoin Magazine in 2011, writing hundreds of articles on the cryptocurrency world. Along the way, he came up with the idea for a platform that would go beyond the financial use cases allowed by Bitcoin. It was called Ethereum.

Ethereum makes it easy to create smart contracts — self-enforcing code that developers can tap for a range of applications, according to CoinDesk.

At some point this week, Ethereum’s price was up by 14,500 percent since the start of 2017. Ethereum’s market cap jumped from $722 million in January 2017 to $60.3 billion.

If Ethereum continues its historic parabolic rally and turns out to be a sustainable mainstream platform, and if Buterin continues to be respected in the decentralized Ethereum community, expect Buterin’s tweets and conference speeches to continue moving markets of the future.

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