June 25, 2021

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

2 min read

Alexis Ohanian is a versatile man: billionaire, philanthropist, creator of Reddit, Initialized Capital, and spouse of the popular tennis player Serena Williams.

Just recently, Seven Six, his brand-new venture company, closed a financing round after raising 150 million dollars, a task that brought him to the media’s spotlight, excited to understand his vision about business world… … and the future of cryptocurrencies.

How Much ETH Does Ohanian Owns?

In an interview for CNBC, Ohanian devoted a portion of the discussion to applauding Ethereum. Beyond the fine words, he also stated that Ethereum made up a considerable part of his funds bought cryptocurrencies.

When inquired about the most promising cryptocurrencies in the environment, Ohanian ensured that Dogecoin was off his radar and continued to toss his compliments to Ethereum:

“I do believe Ethereum [has], at least for the next year or two, actually got the most to show, or a minimum of the most prospective to show something due to the fact that there are numerous intriguing applications. So NFTs are simply the start of what’s getting developed on top of the Ethereum blockchain, which’s where a lot of my holdings are openly.”

Ohanian didn’t divulge his ETH holdings, so it is impossible to come up with an approximation. His signed up Ethereum Name Service domain, alexisohanian.eth. shops only 1.196858 Ether, which is not “a lot” by any methods in billionaire language.

Ohanian has actually been rather bullish on Ethereum’s rate for several years. Back in 2018, he predicted Ethereum would reach a price of $1500, and although the cryptocurrency crashed listed below $100 shortly after that, in between 2020 and 2021, it handled to recover to its current $2481, fulfilling his prophecy.

Price of Ethereum Since 2017. Image: Tradingview
Price of Ethereum Since 2017. Image: Tradingview Why Does Alexis Ohanian Loves Ethereum So Much?For Ohanian, Ethereum is a functional and exciting platform with an intense future. In fact, despite the fact that he resigned from Reddit’s board, Reddit has try out this blockchain in its quest to produce brand-new forms of interaction among its users.

The r/Cryptocurrency community’s Moon Tokens are a clear example of this. They are created on the Rinkeby Ethereum testnet and benefit users for their participation in the neighborhoods.

In addition, Reddit uses the BRIK tokens to develop a little economy on the subreddit devoted to Fortnite, a popular Battle Royale video game.

Ethereum is presently the most active network in the crypto ecosystem, primarily thanks to three vital phenomena:

  1. The increase of stablecoins has actually enabled a huge expansion of cryptocurrency trading
  2. The growing popularity of non-fungible tokens, which are now part of the crypto-culture, even representing special works valued at several million dollars.
  3. The ever-growing number of brand-new DeFi tasks, thanks to the assistance for clever contracts. This has actually opened the gates for many brand-new tokens, dApps, and use cases for decentralized innovations.

No wonder why he didn’t speak at the Bitcoin 2021 conference in Miami