- Breyer Capital, a leading global venture capital firm, has apparently removed Ethereum from its portfolio while retaining VeChain as one of three blockchain companies.
- While the VeChain community speculates on the reasons, no official statements have been made by Jim Breyer.
Breyer Capital, a leading global venture capital and private equity investor focused on promoting entrepreneurs with significant influence in the US and China, has apparently removed Ethereum from its portfolio. As VeChain community member “mikefrancesc0” already noticed the day before yesterday via Twitter, Ethereum was recently removed from Breyer Capital’s website.
Meanwhile, the company continues to list VeChain as one of three blockchain companies, next to Circle and High Fidelity. Ethereum was also not displayed at the time of writing.
The observation was seen as an extremely bullish sign within the VeChain community. Breyer Capital, which was founded by billionaire Jim Breyer in 2006, has led several Series A investments in the past, including from well-known companies like Etsy, Legendary Pictures and Spotify. Furthermore, Breyer has also invested in Facebook, Marvel and Grammarly, among others.
Concerning the reasons, it can only be speculated. Within the crypto community rumors arose that Breyer might have insider information. However, this is unconfirmed and probably unfounded. A few days ago, the audit of the specifications for Ethereum 2.0 Phase 0 was completed. As Vitalik Buterin explained in an interview, the launch of the multi-client test networks is expected to start in April. The launch date has not yet been confirmed by the core developers and is currently scheduled for July 30.
In addition, Ethereum has been able to strengthen its position as the number one blockchain for smart contracts in the corporate sector in recent months. For instance, Ernst & Young, in cooperation with Microsoft and ConsenSys, has published the Baseline Protocol, a middleware solution for large companies to map business processes privately via the public Ethereum blockchain.
In contrast, VeChain has recently been able to increase its adoption in China in particular. As CNF reported yesterday, Chinese natural gas giant Shanghai Gas is relying on the VeChainThor blockchain to build an “Energy-as-a-Service” ecosystem. According to the VeChain Foundation, the solution could be rolled out to the energy companies of the global “Belt and Road Initiative”.
In addition, the VeChain Foundation entered into a partnership with the Chinese Anhui Tea Association in December and was promoted for the first time in February by state-run media in China.
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