Paul Graham, known as the “father” of Silicon Valley startups, announced that an unknown friend sold 80% of his Bitcoin (BTC) and switched to Ethereum altcoin leader. In front of his 1.3 million Twitter followers, Graham claims that the potential of NFTs has a huge impact on this election.
The leading ETH altcoin is preferred
When it comes to Silicon Valley, innovation, startups and startups come to mind. Veteran Paul Graham is best known for his $ 50 million net worth, co-founder of the former startup Viaweb (later renamed Yahoo! Store) and Hacker News. In his recent statements to Y Combinator, Graham said a friend who is an expert on financial matters preferred Ethereum. Some of Graham’s statements were:
A friend of mine, who was never wrong about financial matters, converted 80% of his Bitcoin to Ethereum.
Meanwhile, it is unclear who made Graham’s friend’s statements. It is believed that one of his closest friends, Fred Wilson (co-founder of New York-based Union Square Ventures), is not the owner of the disclosures, as he is already an investor in Ethereum.
Ethereum’s emerging companies proliferate
Ethereum ranks first in the latest CV investments. Hosting different types and trends of innovation makes developers and investors prefer Ethereum over other Blockchain ecosystems. In particular, tokenized jpegs attract players to develop points and levels for NFTs to “earn more or be more valuable,” as well as investors who want to enter the NFT industry.
Along with these, the definition of Bitcoin (BTC) as “digital gold” should not be ignored. BTC, which is basically just a piece of code and has managed to stay on top with 0 updates since 2009, is also able to provide natural protection against inflation due to its limited supply. For this reason, most experts describe Bitcoin as an “ideological struggle” and Ethereum as a “technology toy”. Two cryptos are incomplete without the other.
However, Silicon Valley has begun to gravitate toward Ethereum, especially after the debate over the size of the blog, so for many experts, only ETH plus 20% of Bitcoin should get a share of the portfolios. In addition, Ethereum’s supply is now seen as a disinflationary cryptocurrency, as it is making a kind of cut in half with the amount of ETH burned. According to experts, the increase in demand on the ETH side and the limited supply of Bitcoin may reorganize the balance in the markets.
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