Augur Sold 1 Million Ethereum at $0.7, Why Experts Say It Was the Right Decision

According to cryptocurrency researcher Dovey Wan, the decentralized prediction marketplace Augur sold around 1 million Ethereum at $0.7 immediately following its fundraising round.

If Augur had sold its Ethereum reserve on the upside, in the $1,000 to $1,500 region, the $700,000 it obtained two years ago could have been worth $1 billion to $1.5 billion. Even after an 80 percent correction, 1 million ether is worth around $280 million as of September 2018.

According to Wan:

This is very tricky

1. Augur raised over 1M ETH when price was $0.7, converted almost all right away which would worth at least $200M now, missed the upside completely

2. If you build on Ethereum,by default you believe in its value. Selling off seems to conflict with that🤔️ https://t.co/kbKYwJbnhf

— Dovey Wan (@DoveyWan) September 3, 2018

Augur Founder Responds, Experts Agree With Krug

Joey Krug, the creator of Augur, responded to Wan’s criticism with the simple argument that Augur was and still is a startup,…