Bitcoin Maximalist Tuur Demeester Announces Its Position in Ethereum.
Renowned Bitcoin (BTC) advocate Tuur Demeester changed his mind regarding the Ethereum (ETH) position and bought it after criticizing ETH for five years. However, Ethereum fans should not feel any sense that there will be a wholesale change in emotions in the near future.
“ETH / BTC techniques have been on the rise, so I went into the long position,” said Demeester. I still think that ETH has extremely problematic foundations. ”
Demeester, analyst and co-founder of crypto investment fund Adamant Capital, announced that it has reduced its investment in Bitcoin last month. However, his final explanation does not mean that he has shifted heartily from Bitcoin to Ethereum. He emphasized that he is still a Bitcoin believer and retains many reservations about Ethereum.
Demeester was actually responding to a tweet by popular trader Peter Brandt, who commented on the ETH boom earlier this week and predicted more altcoin gains against Bitcoin in the near future. This, coupled with the growing demand for decentralized finance (DeFi) applications on Ethereum in recent weeks, has been a reason for investors to be optimistic.
— Peter Brandt (@PeterLBrandt) July 8, 2020
Demesteer is not the only Bitcoin maximalist open to making money from Ethereum. In August 2019, Blockstream’s CSO Samson Mow announced that it was investing in tokens using the Ethereum blockchain, although it only supports Bitcoin.When Demeester announced he was leaving Bitcoin, he said he would step back into the community while keeping his love for crypto money.Demeester will spend more time analyzing and writing world events such as racism and child abuse.
Transition to Ethereum
There has been a move from Bitcoin to Ethereum in recent months. The explosion of interest in the field of DeFi led many Bitcoin enthusiasts to literally switch to the smart contract platform.
“The entire DeFi space is extremely exciting right now,” said Mati Greenspan, founder of Quantum Economics. Currently, new economic models are being tested and the idea of getting back only part of the power from the world of financial finance is quite sensational. ”
Emphasizing that the occurrence of such a seismic shift is still in the experimental phase, Greenspan uses the expression “It is ridiculous if you ask me the idea that Bitcoin is the only digital currency with value”. Demeester seems to agree. Ethereum caught the attention of this Bitcoin maximalist. However, it seems that his heart is still in Bitcoin.