Early Uber investor backs Ethereum

Bill Gurley, known for his work at Benchmark and for his investments in Uber, said he has added Ethereum to his personal portfolio.

Thanks @emilychangtv! Little long, but first part is important. THX to technology/Internet the flexible earning opportunities for individuals is set to explode (drivers, creators, et al). Mega lobbyist SEIU, wants everyone to have “shift jobs” invented long ago (& $420 from all!) https://t.co/YaBtFDYISR

— Bill Gurley (@bgurley) August 26, 2021

In an interview on Bloomberg TV, Gurley admitted that he was “a little late to the crypto party,” but pragmatism and openness to changes within the Ethereum community prompted him to join the space. He did not identify with the crypto-maximalist camp.

According to Gurley, in April he managed to devote time to studying the second-largest cryptocurrency by market cap, which sparked genuine interest.

«I am charmed by the Ethereum ecosystem. I think, in the future we will see lower fees. Developers, obviously, are not less interested than users», — said the venture capitalist.

The expert noted that he is optimistic about the upcoming transition to Proof-of-Stake.

«After the transition to ETH2, the network will gain an edge over Bitcoin. I think PoS is the optimal way to bet on cryptocurrencies», — he suggested.

Gurley ranked 20th on The Midas List (Forbes’ top-100 venture capitalists). His biggest success was an $11 million investment in Uber in 2011. The ride-hailing company is valued at $76.6 billion.

As noted, ConsenSys head and Ethereum co-founder Joseph Lubin stated that Ethereum will be orders of magnitude larger than Bitcoin.

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