Venture Capitalist Bill Gurley Takes Personal Position In Ethereum, Here’s Why
01 Settembre 2021 - 7:00PM
NEWSBTC
Investing in Ethereum seems to be top of mind for prominent members
of the finance community. The increasing use cases of the Ethereum
network have brought some significant names into its camp. The
latest on the list though is venture Capitalist Bill Gurley. Gurley
is a general partner at Benchmark, which is a Silicon Valley
venture capital firm that is based in Menlo Park, California.
Gurley has been listed consistently on the Forbes Midas List, while
simultaneously being considered one of the technology’s top
dealmakers. Related Reading | You Can Now Use Your .COM Domain
As An Ethereum Wallet Thanks To This Integration Gurley’s latest
investment interest now happens to be Ethereum. The venture
capitalist revealed that he had taken a personal interest in Ether,
thus leading to him taking a personal position in the digital
asset, which he now owns. Gurley Swayed By Ethereum Community
Venture capitalist Bill Gurley explained why he had taken a
position in Ethereum. Gurley said that he had been swayed by
arguments being made for ETH, thus prom timing him to take a
personal position in the asset. “I have to say I was swayed by the
arguments of the Ethereum crowd,” Gurley revealed. “And so, I’ve
taken a personal position.” Related Reading | Ex-Goldman Exec And
Real Vision Founder Puts Ethereum Value At $20,000 By March 2022
Another important point for Gurley is the commitment of the
Ethereum team to the project and its community. “The party that’s
involved seems to be way more pragmatic,” said Gurley. “ They seem
to be more 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 cam.” Gurley also
explained that he was not making an argument for everyone being
involved in crypto. Neither did his current investments make him a
maximalist in any way. ETH price breaks three-month high | Source:
ETHUSD on TradingView.com “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 his
investment in Ether was a personal one and that it had nothing to
do with his venture firm. Furthermore, Gurley did not disclose how
much he had bought in ETH. Only that he had taken a personal
position in the asset. Robinhood Is More Like A Casino Bill Gurley
had some comments about Robinhood’s recent reveal. The trading
company had revealed earlier that more than half of revenue had
come from crypto trading. With 62% of its entire crypto trading
revenue coming from the meme coin Dogecoin alone. The venture
capitalist stressed that Robinhood’s current business model was not
a sound one. He likened the business model of Robinhood to that of
a casino rather than an investment platform. Related Reading
| Deloitte Survey Shows 76% Of Finance Execs Think Physical
Money Is Nearing Its End It is not clear how much Robinhood plans
to focus on crypto trading on the platform. While investors can
also invest in coins like Bitcoin and Ethereum on the platform,
most favor investing in Dogecoin. This has led to massive growth
for Robinhood. But the sustainability of this business model
remains to be seen. Featured image from Nasdaq, chart from
TradingView.com
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