Home
News
Well-known venture capitalist Bill Gurley has also expressed his opinion regarding the Ethereum networks ether (ETH) as he is personally betting on the crypto’s success. This is after claiming that the digital asset’s massive community has won him over.
Favoring Ethereum
He told in an interview that he was swayed by the arguments of folks who are into Ethereum. Additionally, he said that he has taken a personal position – not something to Benchmark.
Also, it was noted that Ethereum fanatics have impressed him since they struck him as way more pragmatic as compared to others within the cryptocurrency space. Referring to Ethereum’s shift to its 2.0 version, he commented that the network seems to be open to change and is making some tweaks which he believes will substantially trim the fees and such a move according to him is very beneficial.
Proof-of-stake
Gurley also touched on the topic of Ethereum’s impact on the environment. He said that there’s an environmental, social, and governance (ESG) benefit to it by the time the network shifts to proof-of-stake against bitcoin (BTC). Ethereum’s move to this proof-of-stake protocol will be far less energy-intensive than BTC’s proof-of-work which the king token uses to validate and make transaction confirmations. That said, crypto pundits are expecting that ESG investors would be accepting ether’s dramatically improved energy consumption, thus making ether a more dominant digital asset.
The investor made it clear, however, that he is not a crypto maximalist and would not argue that everyone should have exposure to digital coins.
Robinhood
Gurley also talked about the popular trading platform Robinhood which the service recently revealed that more than half of its revenue came from cryptocurrencies and 62 percent of its crypto revenue came from the meme token of dogecoin (DOGE). He said that the platform is not a sound business model and even went on to compare Robinhood to a casino rather than an investment platform.
To surpass bitcoin?
Going back to Ethereum, Real Vision Co-founder and macro analyst Remi Tetot recently commented about the recent price fluctuations between ethereum and bitcoin. Tetot made a comparison about the price movements of the two digital currencies and concluded that ETH is likely to cross the $15,000 mark in the next six months. Similar to Gurley’s sentiments, Tetot cited the network development of ETH 2.0 as one of the main reasons behind the positive forecast on ETH’s price movement. DeVere Group’s Nigel Green, on the other hand, believes that ETH has the potential to overtake bitcoin within five years time, given more utility and demand for the work.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
