Ethereum's Potential as a Currency Discussed by Garrett Jin

According to Odaily, Garrett Jin, an agent for '1011 Insider Whale,' expressed on the X platform that while Bitcoin is often referred to as 'digital gold' and a potential currency, Ethereum also holds the potential to function as a currency. Jin argued against the notion that inflation disqualifies an asset from being a currency, emphasizing that economies require an expanding money supply to align with GDP growth. He noted that a completely closed monetary system would result in early holders passively reaping all benefits, while new contributors are permanently excluded, akin to wealth hoarding by authoritarian regimes. Jin highlighted that Ethereum's current inflation rate is approximately 0.8%, which he described as controlled inflation. With moderate inflation and practical applications such as DeFi, stablecoins, and Layer 2 solutions, Ethereum can effectively serve as a currency. He concluded that only moderate inflation can dilute entrenched wealth over time, allowing more everyday contributors to participate fairly and fostering healthy growth.