The altcoin space is eagerly awaiting for Ethereum Merge, just three weeks away. Meanwhile, many investors are looking at the long-term investment picture. For some, Ethereum is emerging as the biggest asset. Brian Mosoff, CEO of Ether Capital, said he “sees ETH as the most valuable asset in the world.” There are several key elements behind Mosoff’s sensibility. These include Ethereum’s potential as a network, PoS, and payoff. Here are the details…
Why does the leading altcoin ETH stand out?
Mosoff said that following the crypto industry’s initial excitement around Bitcoin, Ethereum changed the whole recipe. “The exciting thing about Ethereum is that it will aggregate all this economic activity into this single layer,” he said. “Bitcoin is this global placement layer for a single asset Bitcoin, but Ethereum is this global placement layer for any asset or group of assets,” the expert said. Mosoff used the following statements:
Whether the metaverse serves as a settlement layer for more crypto-native activities such as NFTs or DeFi, or it is used for stablecoins. Even implemented to tokenize the dollar or the yen or the euro. We got rid of the SWIFT network completely. This is a huge improvement over what a Blockchain could be.
For Mosoff, the idea is now out of the box and it’s only a matter of time before all these new economic possibilities are built online on the Ethereum chain. Mosoff uses the following expressions:
You’re looking at on-chain insurance and lending more transparently, or some privacy-preserving mechanisms in Tier 2. There is much to be built in this area. This is just a long-term bet. What will happen in the next 5-10 years? This is a global movement on how you can program all kinds of economic activities and empower communities to have bottom-up capabilities to create tools and ways of interaction that you cannot do in the traditional financial system.
Mosoff pointed out that Ether Capital has invested the majority of its balance sheet in ETH as a key strategic asset and a means of generating returns. “We call it a once-in-a-generation entity. “We have fully acquired ETH and we continue to believe it will outperform others.”
What does he think of Merge?
Despite recently discovered bugs in mainnet merge updates, all eyes are on Merge, which is scheduled for September 15th. As Cryptokoin.com reported, with Merge, ETH will move from energy-intensive proof-of-work to PoS. Then the energy consumption will decrease by 99.9%. Mosoff uses the following expressions:
There may be volatility at Merge time as the narratives going around, rumors, people say there will be a PoW fork. I don’t believe in saying it’s a guarantee of success. But if that happens, you will now own this asset with the most interesting activities that fit these ESG imperatives from which you can generate returns. This is a really big deal in crypto.
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