Technically speaking, it is possible. But in real life such event could: - dilute overall value of BTC if it was a 1:1 airdrop (this could be avoided by maybe

Technically speaking, it is possible. But in real life such event could: - dilute overall value of BTC if it was a 1:1 airdrop (this could be avoided by maybe minting the ERC20 version after providing a proof of burn of real BTC) - get backlash from BTC maxis who attribute its value to the fact that BTC is secure thanks to PoW, or that Ethereum blockchain relies on an asset that has traits of a security, etc. - uncertainty related to risk of incorrect smart contract implementation, entity behind it, etc. These factors could cause a lot of volatility to both tokens, and only one of them would prevail in the long term (historically I would bet it would follow similar path of BCH or BSV, or gazillion other BTC killers)