Venture Capitalist Bill Gurley Prefers Ethereum to Bitcoin, Takes Personal Position in ETH
Venture capitalist Bill Gurley has taken a personal position in ether because he “was swayed by the arguments of the ethereum crowd.” He explained that it is “the smarter way to play if you’re going to have crypto exposure.” Bill Gurley Prefers Ethereum to Bitcoin
Bill Gurley, a general partner at Benchmark, a Silicon Valley venture capital firm in San Francisco, California, shared his view on cryptocurrency in an interview with Bloomberg last week.
He began by admitting that he is late getting into crypto because he was focusing on direct listings and did not spend much time on the subject until April this year when he dedicated quite a bit of time to reading about cryptocurrencies. Gurley shared: I have to say I was swayed by the arguments of the ethereum crowd. And so, I’ve taken a personal position.
Without specifying how much he invested in ETH, the venture capitalist emphasized that the investment was personal and not for his firm.
“I’m swayed by the ethereum crowd,” he reiterated. “The party that’s involved seems to be way more pragmatic. They seem to be open to changes and are basically making several changes which I think will bring down fees and will be very beneficial. 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 way to play if you’re going to have crypto exposure.
Gurley clarified that he’s not a maximalist and he’s not arguing that everyone must have crypto exposure.
He also commented on the trading platform Robinhood which recently said that more than half of its revenue came from cryptocurrency and 62% of its crypto revenue came from dogecoin (DOGE). The venture capitalist said this is not a sound business model, adding that he sees Robinhood as more of a casino than an investment platform.
What do you think about Bill Gurley’s comments on bitcoin and ethereum? Let us know in the comments section below. Safemoon Product Launch Hits a Snag, Project Bombarded by Accusations, Community Deflects Criticism ALTCOINS | 1 day ago Dogecoin Millionaire Says He"s Going "All in" on Cardano — Bullish on Both DOGE and ADA ALTCOINS | 2 days ago Tags in this story Bill Gurley, Bill Gurley bitcoin, Bill Gurley crypto, Bill Gurley ethereum, bitcoin v ethereum, bitcoin vs ether, Doge, dogecoin, eth vs btc, ethereum vs bitcoin, Robinhood
Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments