Bankless Co-Founder David Hoffman Sells All ETH, Pivots to Altcoins

David Hoffman, co-founder of Bankless, announced that after selling all of his Ethereum ($ETH) holdings, he redirected his capital into a spread of altcoins — a notable turn for a self-described former maximalist. Hoffman said he invested approximately 50% of the proceeds from the sale into $VVV, $NEAR, $ZEC, and $HYPE, setting aside the remaining 50% for gradual purchases in a later phase. In prior statements, Hoffman argued that Ethereum's current market capitalization reflects the network's true performance, and that he does not expect $ETH to undergo a large-scale structural revaluation as an asset going forward. Related News: Major Drop in Bitcoin: $1 Billion in Liquidations—What Caused the Drop and What's the Current Situation?

In his latest post, Hoffman shared more detail on his investment strategy, noting that he used the remainder of his initial capital to purchase $LIT. "After selling $ETH, I allocated approximately half of my capital to $VVV, $NEAR, $ZEC, and $HYPE. I set aside the remaining portion for gradual investment in an asset that hadn't yet experienced exponential growth. This process is now complete, and I have used the remaining 50% to purchase $LIT," Hoffman said.

Responding to a user's question, "What is your investment thesis between $LIT and $HYPE?", Hoffman said he believes $LIT has a stronger risk-return profile compared to $HYPE. According to Hoffman, $LIT's buyback program runs at approximately twice the speed of $HYPE's. Hoffman also stated that $LIT offers a technically superior product thanks to its more advantageous pricing structure and lower latency, and argued that the project's US-based location is a significant advantage.

*This is not investment advice.