Canadian entrepreneur Kevin O’Leary – also called “Mr. Wonderful” – now seems to be praising Ether’s (ETH) appreciation as deflationary assets.
O’Leary has read the script and has taken Cameo, a website allowing users to buy customized video greetings from celebrities, to take advantage of Ethereum London upgrades. In particular, upgrades saw the much-anticipated burn mechanism introduced by Ethereum Improvement Proposal (EIP) 1559 on the Ethereum fee market.
Five days since the widely anticipated EIP-1559 enhancement proposal of Ethereum came alive. Ultrasound.money estimates that around 20,500 Ether (about $63.75 million) burnt so far, it is a website that monitors the pace at which Transaction fees burn Ether.
Whilst a precise date for the upcoming chain merge of Ethereum, which will complete the transformation of the network to a consensus on proof of stake, is still unknown, experts estimate that the merging will take place in early 2022.
The chain merge was formalized for the first time in the last month as an Ethereum Improvement Proposal. Now known as EIP-3765, the update has been standardized by making a pull request on GitHub.
Mr. Wonderful Shills Ethereum
Mr. Wonderful’s co-star is also a major proponent of Ethereum, Dallas Mavericks owner Mark Cuban. In April, he told Laura Shin, podcast host: “Obviously with EIP 1559, everything changes. What happens going forward is going to really impact how people perceive it specifically as a store of value.”
The shark likened it with a profitable company, having more revenues than expenditures. Profits burned are the equivalent of an equity dividend to shareholders, he argued.
O’Leary’s position on Bitcoin publicly changed, as several other big investors did, when the cryptocurrency’s market cap sprung up in the second half of 2020 and crested early 2021. According to the 2019 call by the BTC “hot garbage,” in 2019 March. He moved to an investment plan including a 3 percent investment in Bitcoin and Ethereum.