Vitalik Buterin on Bitcoin ETF: Too Much Investment, Not Enough Usage

Ethereum co-founder Vitalik Buterin has taken to social media to decry the heavy emphasis placed on cryptocurrency exchange-traded funds in lieu of real-world crypto adoption, stating that while complex crypto financial products are beneficial for short-term gains, the ability to easily and quickly purchase cryptocurrencies is more important.

Who previously spoke out against speculative crypto market participants, is apparently impervious with the large amount of hype surrounding the impending SEC decision on a series of Bitcoin ETFs.

I think there's too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores.

The possibility of a Bitcoin ETF currently has the cryptocurrency community eagerly awaiting a decision from the US Securities and Exchange Commission, with analysts predicting a significant price surge up to $50,000 should the regulatory body approve the proposal.

While Buterin may call for streamlined, easy to access cryptocurrency purchases, there is already a range of platforms that facilitate a near-identical method of cryptocurrency investment outlined by the Ethereum mastermind in his tweet.

Crypto debit cards allow cryptocurrency exchange their crypto assets for fiat on the fly, but were heavily suppressed during a late 2017 crackdown that saw most major crypto debit card providers shut down.

The future of crypto debit cards does appear promising.

With Visa CEO Alfred Kelley stating in Q1 2018 that he does not view Bitcoin as a "Payment system player" and the payment processor only processes fiat currency-based transactions, it's evident that crypto to fiat conversion.

Despite misgivings regarding the speculative nature of cryptocurrencies, it's apparent that Visa has reached an agreement with the crypto debit card platform, further accelerating cryptocurrency adoption.

It may not be possible to purchase Bitcoin or other cryptocurrencies at a local store in the same manner as Amazon gift cards, but the availability of crypto debit cards and actual over-the-counter crypto purchase mechanisms are bringing such an eventuality closer than ever before.