- Sep 23, 2021
Bill Gurley, a renowned venture capitalist, has taken personal interest and position in ether attributing his choice to the fact that he was convinced by the arguments of the Ethereum crowd. He argued that Ethereum is the way to go, the smart way to go if one is considering having crypto exposure.
Bill Gurley prefers Ethereum to Bitcoin
Bill Gurley, who happens to be a general partner at Benchmark, a Silicon Valley venture capital firm in San Francisco, California, expressed his opinions of cryptocurrency in an interview with Bloomberg.
He started by first admitting that he is a latecomer to the crypto world, and said this was because he had his focus on direct listings and did not spend much time on the subject until around April this year when he decided to dedicate quite an amount of his time to reading about cryptocurrencies. He said:
“I have to say I was swayed by the arguments of the ethereum crowd. And so, I’ve taken a personal position.”
Although Gurley did not specify how much he has invested in ETH, the venture capitalist reiterated that the investment was personal and not for his firm.
Speaking further after emphasizing how swayed he was by the Ethereum crowd, he spoke about how the party involved in the ETH appears to be way more pragmatic. He said the manner in which they operate shows how open they are to changes and that these changes will undoubtedly bring down fees and will be very beneficial. He also stated that the Ethereum camp clearly has a developer community.
I think there’s an 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.
The venture capitalist clarified that he’s not a maximalist and he’s not trying to argue that everyone must have crypto exposure.
He also had a thing or two to say about the Robinhood trading platform 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.