Ethzilla CEO McAndrew Rudisill has announced that he has made a decision to go to Ethereum after seeing its potential in the almost trillion-dollar global remittance market.
Two months later, his former Floundering Biotechnology Company is now the eighth largest public treasury in the world.
“The Ethereum is effectively a gateway for a worldwide supply to be sent to the US dollar,” Ethzilla CEO McAndrew Rudisill told cointelegraph.
The company started life as Life Sciences Corp, a firm listed in NASDAQ listed in Biotechnology, which Rebranded as Ethzilla Corporation in JulyShortly after US president Donald Trump Signed the Genius Act By law, which aims to establish policies for stablecoins.
“There are many real-world asset applications that you will be able to use Ethereum, and they are now on their way,” he said, noticing Ethereum’s function as a value store.
Ethzilla is the eighth largest ether (Eth) Treasury Company out of 69 listed and holds more than 102,000 tokens.
Rudisill said the company decided Move ahead with Ether Particularly because the “race is in today,” to determine which blockchain is best, and the “horse leaves the barn,” in Ethereum.
“A lot of new networks created in the 2S Layer will definitely be networks in contact with what we call traditional financial activities in today’s world, if it is structured to be credited, all kinds of applications on Wall Street.”
Ethzilla likes “as much as possible”
Bitmine Immerson Technologies are the Largest ether treasury companywith 2.65 million tokens, worth more than $ 11 billion, and set a goal to hold 5% of the token supply.
Rudisill said Ethzilla does not have a set of number but wants to get “as much as possible,” and put it in “work on a variety of different L2 protocols,” to generate “higher yield” than normal staking.
“We take cash from Ether to deploy to buy more and effectively help further L2 network development, as the Ethereum will eventually allow Ethereum to expand,” Rudisill said.
“The reason Ethzilla exists is because we want to be a bridge between what is happening in traditional finances and what is happening in the world of digital finances. So having a lot of Ethereum helps us to do that.”
Ether price will rise back to the growth of Stablecoin
Ether traded hands for $ 4,148, According to In coingecko, and moving between $ 3,846 and $ 4,226 in the last seven days.
Rudisill foretold that a price of $ 20,000 for Ether in the next few years is not completely irrational, as the price is in A Integration pattern -sa For years and prepared to break behind the stablecoin growth.
“Once it breaks $ 5,000, I think it will definitely be a function of the underlying base load on the infrastructure that is just tight that it will push each level.
The Genius Act still awaits final regulations prior to implementation, but the analysts have Also guessed it would be a major driver for the market.
Meanwhile, there is $ 158 billion in Stablecoin transactions on the Ethereum network, According to On the Defillrama data analytics platform, compared to $ 77 billion in the second largest network, Tron.
Many more ether companies are likely to pop up
In total, Ether Treasury companies hold 5.5 million ether – around 4.54% of token supply. Rudisill thinks there may be many companies that take stabs, but also doubt that everyone will survive the long -term season.
“I think there will be extensive differences in quality, management teams, and I think many do not really have a business model built around it to maintain business,” he said.
At the same time, Rudisill Thinking a lot of governments They will also begin to engage in crypto as they fight to prevent boat loss.
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“There is a general acceptance that the financial infrastructure we have in many places is to be -santiquated, and they recognize that and if they do not combine involve what is happening in digital ownership, then they will be left behind,” Rudisill said.
“And that’s why, I think you’ve seen big banks and financial institutions and people are starting to talk about other digital possessions and accept Bitcoin as collateral, just because of a time of moving around the world.”
Established in 2016 as a clinical stage of the biotechnology firm, Life Sciences went public in 2020, but thereafter Initial offer to the publicThe stock has fallen over 99% in the last five years.
Sharp decline is associated with a lack of income and mounted losses, but due to Ethzilla’s ether pivot, the stock has registered A benefit of 44% for the year, with the best performing months coming in August when it rockets at $ 10.70.
Rudisill said that while it is true many small public companies without a clear path forward either will be repaired or removed, Ethzilla is different.
“We are not just a Crypto Treasury play, we are building a cash-flow that generates a layer-2 protocol business with over $ 1 billion in the assets,” he said.
“Our focus is on the long-term development of technology and real utility, not short-term finances. Rebrand and pivot reflect a clear approach for growth and change, not a reactionary transition to stock performance.”
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