In an unexpected turn Jim Breyer, CEO of investment firm Breyer Capital, removes Ethereum (ETH) from his portfolio.
Who is Jim Breyer?
He is an American venture capitalist who has invested in more than 40 companies. His investments include Facebook, Spotify, Etsy and other giants.
In this way, Breyer Capital was founded by Breyer in 2006 to make long-term strategic investments based on their chosen interests: social media, artificial intelligence, entertainment / media, digital health, data analytics, and financial technologies.
Likewise, on its website it ensures that they actively seek to partner with a diverse set of companies, including startups that are in their first steps to develop innovative technologies.
They also claim to be investment partners genuinely committed to generating a positive impact on the companies in which they are part.
So, as we pointed out previously, in the portfolio of the firm we can find from giants like Facebook, to companies in the area of Blockchain technology like Circle and VeChain.
However, for some reason that is not yet known, Ethereum (ETH) is mysteriously removed from the set of companies that make up the Capital Breyer portfolio.
Breyer Capital abandons ETH?
If we cautiously review the Breyer Capital website, particularly the portfolio, we can see that in the “Blockchain” section there are currently: Circle, High Fidelity and VeChain. The thing is that, previously, we could also find Ethereum there.
The reason behind the possible removal of Ethereum (ETH) from Breyer Capital is currently unknown. However, this does not represent an impediment for users to speculate on Reddit.
In this way, some users believe that Breyer Capital has removed Ethereum (ETH) because it got tired of waiting for the long-awaited update for Ethereum.
According to what Vitalik Buterin commented, the test phase is expected to start in April. However, at the moment, the release date for the new ETH update has not been confirmed.
Other users also opined that the fact that Breyer Capital removed Ethereum from its portfolio may have been a prank for “April Fool’s”.
Also, while Ethereum investors are distraught, VeChain’s advocates rejoice at the event as this is a loyal rival.
This occurs just at a time when Ethereum (ETH) appears to have recovered from the Black Thursday caused by the Coronavirus. And it is that, at this time, ETH shows positive signs and is trading above $ 140.
In fact, according to Crypto Online from CryptoTrend, Ethereum has shown a 5.18% gain in the last 24 hours.
So, under these circumstances, little is known about why Breyer Capital removed Ethereum from its portfolio. What do you think could have happened?