Early Coinbase investor accumulates Ethereum ‘again’

After performing worse than Bitcoin for weeks, Etherium had a very good rally last week.

The second-largest cryptocurrency reached $ 245 on Saturday – the highest value since early March. Since then, the price has receded by about 4%, but more and more large investors are supporting the asset, limiting the declines.

Gary Tan – one of the earliest crypto bulls – is a former Microsoft employee and founder of Initialized Capital. His fund was one of the first investors in Coinbase and Instacart. He also admitted to holding Bitcoin, the first being a gift from Brian Armstrong.

It is now clear that he also holds an Ethereum .

On May 30, he wrote that he had ‘ started accumulating ETH again ‘, adding in subsequent comments that he was ‘ holding on long-term ‘ due to taxes.

It is not clear how much Ethereum owns or buys, but this demonstrates the tendency of investors to accumulate the asset in recent months.

Speaking to Camilla Rousseau, the founder of the Ethereum publication ‘ Defiant ‘ and the co-founder of Gemini, Cameron Winklevoss, said the following:

We definitely have a lot of ether. They are many, and it is a material quantity. Yes, quite a lot […] A few years ago we made a focused attempt to buy a lot of ether.

The twins added that their investment in the second-largest cryptocurrency was ‘in the same galaxy’ as Bitcoin, which they said was about $ 1 billion.

Other anonymous whales also accumulate Ethereum.