Marc Andreessen – founding partner of the tech-focused VC giant Andreessen Horowitz (a16z) – is now more bullish on Ethereum and Web 3 than he is on Bitcoin, contrary to his outlook in 2014.

According to Andreessen, crypto and Web3 represent “the other half of the internet,” containing all of the functions people wanted the internet to have until now. This includes the ability to do business across the world on a financial layer of trust, in the form of blockchain technology. 

“You can build on top of the untrusted internet all of the capabilities you would need to have a full economy,” Andreessen explained. “That’s a giant idea – the potential there is extraordinarily high.”