Reddit Cofounder Alexis Ohanian Says He Has ‘A Lot’ Of Ethereum


Alexis Ohanian is a flexible man: billionaire, philanthropist, founding father of Reddit, Initialized Capital, and husband of the well-known tennis participant Serena Williams.

Recently, Seven Seven Six, his new enterprise agency, closed a funding spherical after elevating 150 million {dollars}, a feat that introduced him to the media’s highlight, wanting to know his imaginative and prescient in regards to the enterprise world… and the way forward for cryptocurrencies.

How Much ETH Does Ohanian Owns?

In an interview for CNBC, Ohanian devoted a portion of the dialogue to praising Ethereum. Beyond the high quality phrases, he additionally stated that Ethereum comprised a major a part of his funds invested in cryptocurrencies.

When requested about probably the most promising cryptocurrencies within the ecosystem, Ohanian assured that Dogecoin was off his radar and proceeded to throw his compliments to Ethereum:

“I do think Ethereum [has], at least for the next year or two, really got the most to prove, or at least the most potential to show something because there are so many interesting applications. So NFTs are just the start of what’s getting built on top of the Ethereum blockchain, and that’s where a lot of my holdings are candidly.”

Ohanian didn’t disclose his ETH holdings, so it’s inconceivable to provide you with an approximation. His registered Ethereum Name Service area, alexisohanian.eth. shops just one.196858 Ether, which isn’t “a lot” by any means in billionaire language.

Ohanian has been fairly bullish on Ethereum’s value for a number of years. Back in 2018, he predicted Ethereum would attain a value of $1500, and though the cryptocurrency crashed beneath $100 shortly after that, between 2020 and 2021, it managed to get better to its present $2481, fulfilling his prophecy.

Price of Ethereum Since 2017. Image: Tradingview

Why Does Alexis Ohanian Loves Ethereum So Much?

For Ohanian, Ethereum is a purposeful and thrilling platform with a vivid future. In truth, although he resigned from Reddit’s board, Reddit has experimented with this blockchain in its quest to create new types of interplay amongst its customers.

The r/Cryptocurrency group’s Moon Tokens are a transparent instance of this. They are generated on the Rinkeby Ethereum testnet and reward customers for his or her participation within the communities.

In addition, Reddit presents the BRIK tokens to create a small economic system on the subreddit devoted to Fortnite, a well-liked Battle Royale sport.

Ethereum is at present probably the most lively community within the crypto ecosystem, primarily thanks to a few essential phenomena:

The rise of stablecoins has enabled a large enlargement of cryptocurrency buying and selling
The rising reputation of non-fungible tokens, which at the moment are a part of the crypto-culture, even representing unique works valued at a number of million {dollars}.
The ever-growing variety of new DeFi initiatives, because of the help for good contracts. This has opened the gates for a lot of new tokens, dApps, and use circumstances for decentralized applied sciences.

No surprise why he didn’t communicate on the Bitcoin 2021 convention in Miami

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