Independent researcher Kyle McDonald predicted that Ethereum’s shift to Proof-of-Stake may cause Bitcoin to be ‘regulated away’ and lead to a collapse in its prices. Ethereum’s Merge upgrade will make its energy usage decrease by 99%. But as per Kyle, Bitcoin doesn’t have the coordination like Ethereum to make such a shift.
He predicts that investors and regulators may realize the redundancy of the Proof-of-Work consensus. Amidst the climate crisis, Bitcoin’s energy-intensive nature has been a topic of debate for quite a while. Kyle recommends the investors sell their bitcoins before the Merge happens. However, Bitcoin’s Lightning upgrade has proven to be over 56x more efficient than traditional transactions.