Crypto Genius Buterin Bullish For 2023, Reveals Major Reasons Why

Crypto genius and Ethereum co-founder Vitalik Buterin is bullish about 2023 and as early as last week shared the main reasons for his optimism about the new year.

The past year could be considered the worst year in the cryptocurrency industry after the space witnessed multi-billion crashes from Terra in May and FTX in November, pulling back the advances the industry made a few steps backward.

Major crypto assets like Bitcoin, the world's largest crypto by market cap and Ethereum, the second largest crypto asset by market capitalization plummeted to a new low after hitting their all-time high in 2021.

Many dumped their cryptocurrencies and swore never to invest again.

But, Buterin has so much hope for the industry and based on his recent statements, he is bullish about 2023.

Last week, in response to a tweet from Balaji Srinivasan, a former chief technology officer of Coinbase, who asked what users are bullish for, in 2023, the crypto genius enumerated the main reasons for his optimism.

"Reaching the "basic rollup scaling" milestone in my roadmap diagram," Buterin said in a tweet explaining that it means "EIP-4844 rolled out and rollups partially taking off training wheels, at least to stage 1."

In a separate tweet made on the same day, Buterin explained what a Good Crypto Future would look like.

The crypto genius cited multiple areas in crypto that would need fixing, including privacy, UX, scaling and more secure user accounts for average users.

"Fix scaling, fix privacy, fix UX, user accounts more secure for avg users than centralized services, payments + SoV + Defi provide value to many people, crypto social takes off, identity + SIWE succeed and DAOs pioneer new organization paradigms that see broader adoption," Buterin's tweet read.

In an interview with Bankless co-owner David Hoffman last month, Buterin also shared his optimistic outlook for the crypto industry this year.

The crypto genius said that if there would be technological developments that could make Ethereum take login powers from Google, Facebook, Twitter and other centralized companies, it would enable Ethereum to gain more market dominance on internet-based applications.

"If you can get signed in with Ethereum to work and if you can unseat Facebook and Google and Twitter as the login overlords of the internet, that itself is a huge opportunity, right," he told the Bankless co-owner.

"If you can make a stablecoin that can actually survive anything up to, and including, a U.S. dollar hyperinflation [...] that's a huge opportunity as well if you can create something that will feel like a lifeline for everyone going through that situation," he noted.