Two Prime, a cryptocurrency investor registered in the U.S., will completely reduce its exposure to $ETH to focus solely on $BTC .
Focused on cryptocurrency investment management, it is abandoning Ethereum as the price action of the second largest cryptocurrency continues to disappoint investors with a 'memecoin behavior'.
In a significant shift in its strategy, the company announced this week its formal decision to cut all exposure to $ETH citing the unpredictability of the cryptocurrency and its decoupling from $BTC, which Two Prime has now opted to focus on.
While Bitcoin has shown strength in the charts over the past few months, the reality of Ether has been completely different, with the price of the digital coin deteriorating by nearly 50% since the beginning of the year.
