Former Ethereum Maximalist David Hoffman Reveals He Bought 5 Different Altcoins With All His Profits After Selling All His ETH Holdings

David Hoffman, co-founder of Bankless, announced that after selling all of his Ethereum (ETH) holdings, he redirected his capital to different altcoins.

Hoffman stated that he invested approximately 50% of the funds he obtained from the sale in VVV, NEAR, ZEC, and HYPE tokens, setting aside the remaining 50% for gradual purchases in the first phase.

In previous statements, Hoffman argued that Ethereum’s current market capitalization reflects the network’s true performance, and stated that he does not expect ETH to undergo a large-scale structural revaluation as an asset in the future.

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In his latest post, Hoffman shared details about his investment strategy, announcing that he used the remainder of his initial capital to purchase LIT tokens. Hoffman stated, “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.”

Responding to a user’s question, “What is your investment thesis between LIT and HYPE?”, Hoffman stated that he believes LIT has a stronger risk-return profile compared to HYPE.

According to Hoffman, LIT’s buyback program is approximately twice the speed of HYPE’s buyback program. 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.

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