TLDR
- Andrew Keys publicly stated that he does not own any Bitcoin and supports only Ethereum.
- He compared Bitcoin to a landline and Ethereum to a smartphone in a CNBC interview.
- Keys believes Ethereum will lead in stablecoin adoption and institutional settlements.
- He claimed Ethereum is the only blockchain suitable for a decentralized global economy.
- Ether Machine began trading on Nasdaq through a merger with Dynamix Corporation.
Andrew Keys, co-founder and chairman of the Ether Machine, publicly dismissed Bitcoin while reinforcing his full support for Ethereum. Keys made his stance clear during an appearance on CNBC’s Squawk show, drawing a sharp comparison between the two cryptocurrencies. His remarks highlighted Ethereum’s growing institutional relevance, positioning it as the preferred blockchain for global economic activity.
Keys rejected any ownership of Bitcoin, arguing it no longer fits the needs of evolving digital finance. Instead, he stressed that Ethereum holds the technological advantage, particularly in stablecoin usage and smart contract deployment. This view places him among a select group of leaders who support Ethereum exclusively, without interest in Bitcoin.
His statements reflect a broader belief in Ethereum’s future dominance in the blockchain industry. With over 50% of stablecoins operating on Ethereum, Keys believes the network stands to benefit most from legislative developments. The GENIUS Act, which supports blockchain innovation, is expected to accelerate Ethereum’s adoption across financial systems.
Ethereum Gains Institutional Momentum
Keys pointed to Ethereum’s high utility in the institutional space, citing its integration with stablecoins as a major strength. He emphasized that Ethereum’s design allows it to manage complex financial operations, unlike Bitcoin’s limited capabilities. This versatility makes Ethereum a foundational layer for tokenized real-world assets and global digital settlements.
Moreover, Keys likened Ethereum’s market position to Google’s dominance in search, highlighting its edge over other blockchain platforms. He argued that Ethereum’s smart contract capabilities give it the structure to support decentralized finance on a global scale. Thus, as stablecoin and tokenization markets grow, Ethereum stands to capture the majority of institutional inflows.
Other industry figures echoed a similar outlook. FundStrat’s Tom Lee predicted that Ethereum could reach $15,000 by year-end, citing its utility-driven growth. While Lee continues to hold Bitcoin, his bullish outlook on Ethereum reflects growing institutional interest in the blockchain.
Ether Machine Targets Ethereum-Based Investment Growth
Ether Machine recently launched trading on Nasdaq under the ticker ETHM through a merger with SPAC firm Dynamix Corporation. The firm aims to build a robust investment vehicle focused entirely on Ethereum and related infrastructure. Keys personally invested $645 million into the Ether Machine as an anchor commitment.
The firm is targeting $1.5 billion in funding for its Ethereum treasury strategy. Backers include 10T Holdings, Pantera Capital, and Electric Capital, supporting the company’s long-term Ethereum-focused vision. Ether Machine will now compete with other crypto treasury firms for institutional exposure to Ethereum.
