Venture capitalist Bill Gurley has taken a private place in ether as a result of he “was swayed by the arguments of the ethereum crowd.” He defined that it’s “the smarter method to play should you’re going to have crypto publicity.”
Bill Gurley Prefers Ethereum to Bitcoin
Bill Gurley, a basic associate at Benchmark, a Silicon Valley enterprise capital agency in San Francisco, California, shared his view on cryptocurrency in an interview with Bloomberg final week.
He started by admitting that he’s late entering into crypto as a result of he was specializing in direct listings and didn’t spend a lot time on the topic till April this yr when he devoted fairly a little bit of time to studying about cryptocurrencies. Gurley shared:
I’ve to say I used to be swayed by the arguments of the ethereum crowd. And so, I’ve taken a private place.
Without specifying how a lot he invested in ETH, the enterprise capitalist emphasised that the funding was private and never for his agency.
“I’m swayed by the ethereum crowd,” he reiterated. “The occasion that’s concerned appears to be far more pragmatic. They appear to be open to adjustments and are principally making a number of adjustments which I believe will deliver down charges and shall be very useful. The developer group is clearly in the ethereum camp.”
The enterprise capitalist opined:
I believe there’s a ESG [Environmental, Social, and Governance] profit as soon as they transfer to proof-of-stake versus bitcoin. It appears to me to be the smarter method to play should you’re going to have crypto publicity.
Gurley clarified that he’s not a maximalist and he’s not arguing that everybody will need to have crypto publicity.
He additionally commented on the buying and selling platform Robinhood which just lately mentioned that greater than half of its income got here from cryptocurrency and 62% of its crypto income got here from dogecoin (DOGE). The enterprise capitalist mentioned this isn’t a sound enterprise mannequin, including that he sees Robinhood as extra of a on line casino than an funding platform.
What do you concentrate on Bill Gurley’s feedback on bitcoin and ethereum? Let us know in the feedback part beneath.
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