Venture capitalist Bill Gurley has taken a personal position in the ether because he “was swayed by the arguments of the ethereum crowd.” He defined that it’s “the smarter strategy to play when you’re going to have crypto exposure.”
Bill Gurley Prefers Ethereum to Bitcoin
Bill Gurley, a general partner at Benchmark, a Silicon Valley enterprise capital firm in San Francisco, California, shared his view on cryptocurrency in an interview with Bloomberg last week.
He started by admitting that he’s late getting into crypto as a result of he was specializing in direct listings and didn’t spend much time on the topic till April this year when he devoted fairly a little bit of time to reading 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 personal place.
Without specifying how much he invested in ETH, the enterprise capitalist emphasized that the funding was private and never for his agency.
“I’m swayed by the ethereum crowd,” he reiterated. “The party that’s involved seems to be far more pragmatic. They seem to be open to adjustments and are basically making several changes which I believe will bring down fees and will be very useful. The developer community is clearly in the ethereum camp.”
The venture capitalist opined:
I think there’s a ESG [Environmental, Social, and Governance] benefit once they move to proof-of-stake versus bitcoin. It seems to me to be the smarter strategy to play if you’re going to have crypto exposure.
Gurley clarified that he’s not a maximalist and he’s not arguing that everybody should have crypto publicity.
He additionally commented on the trading platform Robinhood which not too long ago stated that greater than half of its income got here from cryptocurrency and 62% of its crypto revenue came from dogecoin (DOGE). The enterprise capitalist said this isn’t a sound business model, including that he sees Robinhood as more of a casino than an investment platform.