Ethereum investors shouldn't worry too much about the digital currency's flash crash from $319 to just 10 cents in a matter of seconds, blockchain investor William Mougayar said Friday.
"I wouldn't call it a crash," Mougayar said on CNBC's "Squawk Box" a day after the plunge. "It was more a technical error on the exchange that was powering a lot of the transactions."
Like bitcoin, ethereum is a cryptocurrency built on blockchain technology.
Since ethereum is a new kind of currency, Mougayar understands why the value is so unstable. However, he thinks things will even out and people should invest in bitcoin and ethereum, especially because the gap in value has narrowed between the two
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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