The CEO of Morgan Creek Capital Management has come to the defence of Ethereum…
Ethereum’s price rose overnight by some 6%, finally bringing some good news for those – and there are many – invested in or relying on the currency in some way. It follows drops that have seen it hit a year-long low over the past few days.
However, not everyone is panicking over the fall in Ethereum’s price. Mark W Yusko, the CEO is investment company Morgan Creek Capital Management, is making far more optimistic noises about the future of Ethereum.
Chatting to Yahoo, he insisted that it all feels like the early stages of the internet. “People might say its six years from now well, It’s like 1993 or 1994 in the internet when Google was just being thought of, and nobody thought it would be very important”.
He argued that the internet protocols that came about then “allowed us to create the internet. That’s what Ethereum is. A protocol that allows us to correct the trust net”.
It came as part of a Yahoo segment that was generally more on the pessimistic side. Still, Yusko argued that this year we’ve seen a correction because crypto assets ballooned above their value last year, and he’s now invested more in the technology. And he presses the point that for the minute, it’s “about buying and HODLing”.
The full segment from Yahoo! Finance can be found here. Its title: ‘Wall Street titans still sceptical of cryptocurrency’. Which gives you a rough idea of its overall direction…