$ETH Ether Machine founder claims ETH outperformed BTC over past 10 years

Ether Machine founder said he’s an Ethereum maxi and doesn’t own Bitcoin — he’d “rather have an iPhone than a landline.”

Andrew Keys, the co-founder of the new Ethereum investment firm The Ether Machine, argues investors would have made much more money investing in Ether than Bitcoin a decade ago.

“The price of Ether per Bitcoin over the past decade has materially improved. Over the last decade, since Ethereum started, you would be 50x wealthier [had you owned it since then],” Keys said on CNBC’s Squawk Box on Monday while talking about his new Ethereum treasury firm, which plans to go public.

In a post on X, he later corrected the price growth figure from 50 times to 30 times.

Keys serves as chairman of the new company, which plans to launch with more than 400,000 ETH, currently worth around $1.5 billion, making it the largest public vehicle for institutional Ethereum exposure.

This would eclipse the current holdings of Bitmine and SharpLink, which have 300,000 and 280,000 in their ETH treasuries, respectively.

Keys told CNBC that he is an “Ethereum guy” and does not own Bitcoin. “I’d rather have an iPhone than a landline,” he said.

Keys also said that “the largest beneficiary of the GENIUS Act is Ethereum,” because the majority of stablecoins are deployed on Ethereum.

“Ethereum is experiencing power law dynamics where 90% of tokenized assets are deployed on Ethereum, similar to the power law dynamics of Google where 90% of searches happen with Google.” #BTCvsETH #ETHBreaks3700