Mechanism Capital Co-founder Shifts Strategy, Believes in Ethereum's Long-Term Potential
CryptoNewsTerminal Staff04 Aug, 2024
Mechanism Capital Co-founder Shifts Strategy, Believes in Ethereum's Long-Term Potential
Mechanism Capital co-founder Andrew Kang has announced a shift in his investment strategy, expressing a bullish outlook on Ethereum (ETH). In a recent interview, Kang stated that he "no longer plans to bet against ETH." Kang's previous skepticism stemmed from his belief that ETH needed to prove its value to the real economy. However, he now acknowledges the potential for the cryptocurrency to continue appreciating. "I could see ETH going lower, but I plan to focus more on finding buying opportunities going forward," he said. This change in sentiment reflects growing optimism within the cryptocurrency industry. Despite market volatility, many analysts believe that ETH has strong fundamentals and long-term potential. Kang's endorsement further supports this view.
