Venture Capitalist Fred Wilson May Be Souring on His Love for Ethereum
- Wilson said in 2017 Ether value would outperform Bitcoin
- He was mostly downbeat on crypto in a blog post written today
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Fred Wilson, co-founder and managing partner at Union Square Ventures, may be souring on one of his previous favorites in the digital-asset space: Ethereum.
Wilson in 2017 said the market cap for Ether, the native digital token on the Ethereum blockchain, would surpass the value of Bitcoin by the end of that year. It never did, and has vastly underperformed Bitcoin, dropping about 23% from the end of May 2017 to today. That compares with a more than 350% gain for Bitcoin over the same period, according to data compiled by crypto research firm Messari Inc.