On Friday, October 13th, Bitcoin official X posted a picture on X (Twitter) of an empty wallet shaped like the Ethereum logo. The caption read “So that’s where the logo came from…” This was an apparent jab at Ethereum’s recent price declines.
This is coming from a big Bitcoin account with over 6 million followers on X (Twitter).
So that is where the logo came from… pic.twitter.com/fk3HqpDXZH— Bitcoin (@Bitcoin) October 13, 2023
The Bitcoin and Ethereum communities have had a contentious relationship over the years as they compete for cryptocurrency dominance. Bitcoin supporters argue it is the original and most secure blockchain, while Ethereum proponents say their platform is more flexible and has greater potential beyond just digital money.
The mocking tweet comes as both Bitcoin and Ethereum have seen their prices fall substantially this week. Bitcoin is currently trading around $26,800, down 3,8% in the last seven days. Ethereum has been hit even harder, dropping 5% to about $1,540.
Though both Bitcoin and Ethereum have seen ups and downs this year, Ethereum’s greater losses this week provided an opening for Bitcoin supporters to criticize.
The rivalry is likely to continue as the two cryptocurrency heavyweights compete for developers, users and mainstream adoption. However, both Bitcoin and Ethereum face challenges in regulatory uncertainty and competition from newer blockchain platforms. Their long-term success may well depend on expanding real-world utility beyond trading and speculation.
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