Andrew Keys is the co-founder and CEO of The Ether Machine. He claims that investors could have earned more money by investing in Ether a decade earlier than Bitcoin.
“The price of Ether per Bitcoin over the past decade has materially improved. Over the last decade, since Ethereum started, you would be 50x wealthier [had you owned it since then],” Keys said CNBC Squawkbox on Monday when he talked about his Ethereum treasury company, which is planning to go public.
He later posted a message on X. corrected The price increase from 50 to 30 times.
Keys is the chairman of this new company. plans to launch It is the most popular public Ethereum investment vehicle, with over 400,000 ETH currently valued at $1.5 Billion.
The current holdings in the ETH treasuries of Bitmine (300,000) and SharpLink (280,000), which are each 300,000 ETH, would be dwarfed.
Keys has told CNBC he’s an “Ethereum guy” Bitcoin does not belong to anyone. “I’d rather have an iPhone than a landline,” “He said”
Keys said the same thing. “the largest beneficiary of the GENIUS Act is Ethereum,” Because the majority of stablecoins is deployed on Ethereum.
“Ethereum is experiencing power law dynamics where 90% of tokenized assets are deployed on Ethereum, similar to the power law dynamics of Google where 90% of searches happen with Google.”
The comparison is flawed
Although the comparison of Ether and Bitcoin’s returns is not inaccurate, the data does paint an incomplete picture about the assets’ explosive gains since their inception.
Bitcoin’s network was established in 2009. The price of one BTC on Pizza Day, in May 2010, was $0.0041. It was however not available on trading exchanges at the time.
It was valued at $0.05. first traded In July 2010, the Mt. Gox Exchange in July 2010 The value of the Gox exchange has increased by over 234 million per cent since then.
Meanwhile, Ethereum’s genesis block Bitcoin reached $280 more than 6 years later in July 2015 when it was trading.
Ether traded It was worth around $1.60 per month in the months following its creation and it has gained 236,837%.
Related: Ethereum investors pile into ETH amid massive weekly surge
A recent performance can also give a different perspective to an argument.
Ether is yet to hit a new high in this cycle. Its price has been largely flat since 2022, and it’s still down by 23% from the peak of 4,878, which was reached in 2021.
Bitcoin is also announcing a record-breaking price. all-time high On July 14, the stock has gained 78% from its cycle high in 2021.
Ether Machine Plans IPO
The Ether Reserve, a new Ethereum-focused investment company with more than $1.6 billion backing plans to list on Nasdaq.
It will launch through a merger between Dynamix Corporation and blank-check SPAC company Dynamix Corporation. The combined entity, called “The Ether Machine,” reported Reuters.
Rotation to Ether
“Investors are rotating into Ethereum en masse, which explains its sustained rally over the weekend,” Jeff Mei told Cointelegraph that he is chief operating Officer at the BTSE Exchange on Tuesday.
He also said it is clear the focus has moved to Ether. “makes sense as Ethereum is still trading well below its all-time highs and traders believe it will close the gap in the coming months.”
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Source: cointelegraph.com
