Veteran Silicon Valley investor explains move to Ethereum

Bill Gurley, general partner of the Silicon Valley VC firm Benchmark, announced that he is counting on the success of Ethereum. He stated in one interview on Bloomberg TV that the pragmatism of the Ethereum (ETH) community compared to other crypto communities convinced him that the token would be successful. It is noteworthy, however, that Gurley’s view of ETH is personal and does not represent his company’s Benchmark view of cryptocurrency.

The investor also mentioned that he is optimistic that ETH’s proof-of-stake consensus model and 2.0 upgrade would help with expansion and sustainability. He believes it will also help the cryptocurrency be more environmentally friendly as it would use less energy than Bitcoin (BTC).

An advantage that Gurley believes could soon help ETH overtake BTC as the largest cryptocurrency. He added,

“They seem open to change and are basically making several changes that I think will lower the fees and be very beneficial.”

However, Gurley acknowledged that not everyone should be part of the new digital cash trend while sharing his opinion on trading platforms. He disapproved of the Robinhood trading platform and how it “paid for the flow of orders”. Description of the model “A bastardization of our markets”, Gurley said Robinhood was like a casino and hoped the SEC would make the model go away.

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