As major investors pour into the crypto space, venture capitalist Bill Gurley champions ETH with praise for the network’s community.
The crypto space is rife with both innovation and exploration. New dApps, networks, blockchain use cases appear on the daily. At the same time new inventors, individual and institutional, get their feet wet with crypto, NFTs, or perhaps DeFi. At this point, there’s no going back.
When big names make comments about the industry, the markets reflect it. As more giant institutions and venture capitalism flow into the space, the reflections will follow suit. Recently, venture capitalist Bill Gurley expressed his great enthusiasm over the space. He told Bloomberg, he isn’t a maximalist and that people don’t need to own crypto – but he’s all for it.
The Silicon Valley venture capitalist, known from Benchmark VC, personally places his bets on ETH. He said the community around the network won him over.
“I have to say I was swayed by the arguments of the ETH crowd. And so, I’ve taken a personal position – not something to Benchmark,” he said in an interview. Though he didn’t specify how much he invested in the digital currency.
Gurley also called ETH, “way more pragmatic” than other cryptocurrencies. In reference to the ominous ETH 2.0 shift he said, “they seem to be open to change and are basically making several changes which I think will bring down fees and will be very beneficial.”
The investor giant said there are environmental, social, governance factors which will benefit ETH holders once moved to P-o-S, versus with BTC. “It seems to me to be the smarter way to play if you’re going to have crypto exposure.”
Venture Capitalists and Crypto
Over the past year, major investments poured into the crypto community. According to PitchBook, market data analyst, VC firms in particular have been heavily active in the crypto market. In 2021 alone, venture capital funds into crypto accumulated to over $17 billion.
From billion dollar crypto funds and support for the world’s largest NFT market, to DeFi protocols, these big league investors are making their mark.
Venture Capitalist Tim Draper told BeInCrypto that he looks for, “uniqueness, importance, and founder dedication,” when investing in the space. Luckily for him and others in his position there is no end to those attributes in developing crypto world.
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