Bankless founder discusses liquidating ETH holdings: Still optimistic about the Ethereum network, but believes ETH is unlikely to be repriced by the market
Odaily reported that Bankless founder David Hoffman explained on X the reasons why he sold all his ETH holdings.
Hoffman wrote: “I remain extremely bullish on the Ethereum network and the entire ecosystem — Ethereum’s architecture is fundamentally designed to maximize the chances of success for its applications, L2s, and ecosystem. The ‘fat-app’ thesis means that applications on Ethereum can capture the majority of transaction fee revenue; and the ‘rollup-centric’ roadmap means that L2s can achieve profit margins as high as 97%. However, when it comes to ETH as an asset itself, it’s becoming harder and harder for me to see how the market will structurally rerate it — whether upwards or downwards. So, my decision to sell ETH isn’t because I’m bearish on ETH, but because I believe the ‘ETH is Money’ narrative has basically played out. I want to allocate my funds to other opportunities I see in the market.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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