Venture capitalist Bill Gurley took a personal stance on Ether because he was “influenced by the arguments of the Ethereum crowd”. He stated that “the smarter way to play is when you have crypto exposure”.
Bill Gurley prefers Ethereum over Bitcoin
Bill Gurley, General Partner at Benchmark, a Silicon Valley venture capital firm in San Francisco, California, shared his take on cryptocurrencies in an interview with Bloomberg last week.
He started by admitting that he got into cryptocurrency too late because his focus was on direct listings and didn’t spend much time on the topic until April of this year when he spent quite a bit of time reading about cryptocurrencies . Gurley shared:
I have to say that I was influenced by the arguments of the Ethereum crowd. And so I took a personal position.
Without specifying how much he invested in ETH, the venture capitalist emphasized that the investment was personal and not for his company.
“I’m influenced by the Ethereum crowd,” he repeated. “The party involved seems to be much more pragmatic. They seem open to change and are basically making several changes which I think will lower the fees and be very beneficial. The developer community is clearly in the Ethereum camp. “
The venture capitalist said:
I think there is an ESG [Environmental, Social, and Governance] benefit as soon as they go to the proof-of-stake against Bitcoin. It seems to me the smarter way to play when you have crypto exposure.
Gurley made it clear that he is not a maximalist and he does not argue that everyone needs to be exposed to crypto.
He also commented on 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 was not a solid business model, adding that Robinhood was more of a casino than an investment platform.
What do you think of Bill Gurley’s comments on Bitcoin and Ethereum? Let us know in the comment section below.
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