Bankless Co-Founder Explains Why He Sold All His Ethereum
Bankless co-founder David Hoffman said he sold his ETH after concluding that the “ETH is money” thesis has largely played out, marking a notable shift from one of Ethereum’s most visible public advocates. Hoffman said he remains “massively bullish” on Ethereum as a network, but no longer sees a clea
Bankless co-founder David Hoffman announced he has sold all his Ethereum holdings, marking a significant shift from one of the cryptocurrency's most prominent public advocates. Hoffman stated that he concluded the "ETH is money" thesis has largely played out and no longer sees a clear structural rerating path for the asset moving forward.
Despite divesting his ETH position, Hoffman emphasized he remains "massively bullish" on Ethereum as a network and blockchain platform. In his announcement, he acknowledged the weight of his decision, writing: "For someone who built a career, community, identity, and business around Ethereum, this choice does not come lightly." Hoffman clarified that the ETH monetary thesis "didn't fail… it played out," suggesting Ethereum has achieved the price level it deserves based on current fundamentals.
The announcement carries particular significance given Hoffman's role as co-founder of Bankless, a major Ethereum-focused media platform and community that has been instrumental in promoting the network's adoption. His perspective represents a notable shift in sentiment from a figure who has been deeply embedded in Ethereum's ecosystem and advocacy efforts.
Market observers will likely monitor whether other prominent Ethereum advocates follow suit or push back against Hoffman's assessment. The reaction from the broader Ethereum community and any potential impact on ETH's price performance will be closely watched in coming weeks.
Source: NewsBTC
