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Reddit co-founder: I have a lot of Ethereum

Source: https://bit.ly/3cB6hyh

Alexis Ohanian is a man of many talents and labels. He is:

Billionaire, generous benefactor to charities, founder of Reddit, founder of Initialized Capital, and husband of famous tennis player Serena Williams.

Recently, his new company, Seven Seven Six, closed a funding round after raising $150 million, a feat that catapulted him into the spotlight in the media, who were excited to learn his visions about the business world… and the future of cryptocurrency.

How much cryptocurrency does Ohanyan own?

In an interview with CNBC, Ohanian dedicated part of the discussion to praising Ethereum.

In addition to the wonderful words he said about Ethereum, he also said:

Ethereum makes up a large part of my money invested in cryptocurrencies.

When asked about the most promising cryptocurrencies in the crypto ecosystem, Ohanian confirmed that Dogecoin, after being off the radar, came back strong, and went on to praise Ethereum, saying:

I think Ethereum, at least for the next year or two, really has more than can be proven, or at least the most potential to show something because there are so many interesting applications with it.

NFT is just the beginning of what is being built on the Ethereum blockchain, and this is where a lot of my holdings are.

Ohanian hasn’t revealed how much Ethereum he has, so it’s impossible to come up with a rough estimate.

It is only known that Ohanian has a domain registered as “alexisohanian.eth”, with it storing 1.196858 Ethereum, which is by no means a large amount especially since we are talking about a billionaire.

Ohanian has been very bullish about the price of Ethereum for several years.

In 2018, he expected the price of Ethereum to reach $1,500, and although the cryptocurrency then crashed below $100 shortly thereafter, between 2020 and 2021, Ethereum managed to recover to currently $2,432, fulfilling his prediction.

Why does Ohanian like Ethereum so much?

For Ohanian, Ethereum is an exciting functional platform with a bright future.

Despite resigning from the Reddit board of directors, Reddit has experimented with the Ethereum blockchain in its quest to create new forms of interaction among its users.

The Moon digital token directed at the r/Cryptocurrency community is a clear example of this.

These tokens were created on the Rinkeby test network built on Ethereum, and the function of these tokens rewards users for their participation in the communities.

Ethereum is currently the most active network in the crypto ecosystem, thanks mainly to three main reasons:

  • The rise of stablecoins has enabled a massive expansion of cryptocurrency trading
  • The growing popularity of non-fungible tokens, which are now part of crypto culture, even represent multi-million dollar business exclusives.
  • The ever-increasing number of new DeFi projects thanks to the support of smart contracts.

All of this has opened the gates for many digital tokens, decentralized applications, and use cases for decentralized technologies.

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