Billionaire drops Ethereum from his portfolio, keeps VeChain

Ethereum has been booted from billionaire Jim Breyer’s crypto investments, while rival VeChain remains intact.

American venture capitalist, and billionaire, Jim Breyer proudly sported Ethereum among his diverse investments—until recently. So what happened to knock Ethereum off Breyer’s distinguished pedestal?

Breyer’s litany of investments range from social giants such as Facebook to music streaming monolith Spotify, but he’s been particularly bullish on blockchain-based business as well. Breyer counts Ethereum, Circle and VeChain among the firms he’s graced as an angel investor. However, while the latter two remained untouched, Ethereum has mysteriously vanished.

Decrypt reached out to Breyer Capital and will update this article if we hear back.

Vechain holders take note

While Ethereum holders angst over the potential loss, rival VeChain proponents rejoice that Breyer seemingly spared their token.

This is extremely bullish! Breyer Capital got rid of Ethereum from it’s portfolio. Let’s go Vechain! $VET $BTC https://t.co/aUVNXeqbVh

— The Mighty Thor Ⓥ (@_The_MightyThor) March 31, 2020

Some Redditors believed it could have been an April fools gag. Others suggested that Breyer simply got fed up of waiting for ETH 2.0.

“After waiting for Ethereum 2.0, he finally lost his patience,” a Redditor wrote.

 

The billionaire has been a keen observer of the cryptocurrency space for many years. In the wake of the onslaught—which brought the crypto market to its knees after a 90% decline—Breyer’s faith in crypto remained steadfast.

Speaking at the 2018 Fortune Global Tech Forum, Breyer remarked that despite the shakeout, the smart money was on blockchain.

“You don’t want to bet against the best and brightest in the world,” he said.

But perhaps he doesn’t want to bet either way.