Bitcoin was about $580 that day, and each bitcoin purchased 2,000 ether, making the cost of 1 ether about $0.29, Ken calculated. Used to thinking in venture capital terms, Ken equated Bitcoin to a later stage, Series D investment, while Ethereum was a seed investment. That meant ether had more room to grow, but also a higher likelihood of failure. Ethereum, with its ability to support all kinds of blockchain applications, also had the potential of being even bigger than Bitcoin, Ken thought.
