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ETHZilla CEO Predicts Ethereum as Future of Finance

ETHZilla CEO McAndrew Rudisill has revealed he made the decision to go all in on Ethereum after seeing its potential in the nearly trillion-dollar global remittance market.

Two months later, his formerly floundering biotechnology company is now the eighth-largest public Ethereum treasury in the world.

“Ethereum is effectively a gateway for money supply globally to transmit in US dollars,” ETHZilla CEO McAndrew Rudisill told Cointelegraph.

The company began life as Life Sciences Corp, a Nasdaq-listed biotechnology firm, which rebranded as ETHZilla Corporation in July, shortly after the US President Donald Trump signed the GENIUS Act into law, aiming to establish rules for stablecoins. 

“There are a lot of real-world asset applications that you’re going to be able to use Ethereum for, and they are on their way right now,” he said, noting Ethereum’s function as a store of value as well. 

ETHZilla is the eighth-largest Ether (ETH) treasury company out of 69 listed and holds over 102,000 tokens.

Rudisill said the company decided to move ahead with Ether specifically because the “race is on right now,” to determine which blockchain is the best, and the “horse has left the barn,” on Ethereum.  

Since pivoting into Ether, ETHZilla Corporation has acquired over 102,000 tokens for its treasury. Source: StrategicEtherReserve

“A lot of the new networks that have been created on layer 2s are actually going to be networks that interface with what we would call traditional finance activities in the world today, whether it be structured credit, all kinds of Wall Street applications.”

ETHZilla wants “as much Ether as possible”

BitMine Immersion Technologies is the largest Ether treasury company, with 2.65 million tokens, worth over $11 billion, and has set a goal of holding 5% of the token supply.

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Rudisill said ETHZilla doesn’t have a set number in mind but wants to acquire “as much Ether as possible,” and put it to “work in a variety of different L2 protocols,” to generate “substantially higher yield” than normal staking.

Source: ETHZilla

“We are taking the cash from the Ether to be deployed to buy more and effectively help further build out the L2 network, because that’s ultimately what’s going to allow Ethereum to expand,” Rudisill said.

“The reason ETHZilla exists is because we want to be that bridge between what’s going on with traditional finance and what’s going on in the digital finance world. So having a lot of Ethereum helps us to do that.” 

Ether price will rise off back of stablecoin growth

Ether is trading hands for $4,148, according to CoinGecko, and has been moving between $3,846 and $4,226 over the last seven days.

Rudisill predicts that a price of $20,000 for Ether in the next few years isn’t entirely unreasonable, because the price has been in a consolidation pattern for years and is poised to break out on the back of stablecoin growth.

“Once it breaks through $5,000, I think it’s actually going to be a function of the underlying base load on the infrastructure just being so tight that it’s going to push each level up one. And I think we’re actually there right now.”

The GENIUS Act is still awaiting final regulations before implementation, but analysts have also predicted it will be a key driver for the market.