Alexis Ohanian, Reddit's Co-Creator, Says He Has a lot of Ethereum

Seven Seven Six, his new startup company, just finished its financing round after collecting 150 million dollars, an achievement that catapulted him into the media limelight, with reporters eager to hear his thoughts on the business world... and the future of cryptocurrencies.

How much Ethereum does the Reddit boss have?

In an interview with CNBC, Ohanian praised Ethereum for a chunk of the time. Aside from the kind remarks, he also said that Ethereum was a big portion of his cryptocurrency investment assets.

When asked about the most promising cryptocurrencies in the ecosystem, Ohanian stated that Dogecoin was not on his radar and went on to praise Ethereum: "I do think Ethereum got the most to prove, or at least the most potential to show something because there are so many interesting applications, at least for the next year or two." So NFTs are only the beginning of what's being created on top of the Ethereum blockchain, and that's where I'm putting my money."

Because Ohanian did not reveal his ETH holdings, it is hard to make an educated estimate. Alexis Ohanian's registered Ethereum Name Service domain, eth. Stores just 1.196858 Ether, which is far from "a lot" in billionaire parlance.

For many years, Ohanian has been quite positive about the price of Ethereum. In 2018, he projected that Ethereum would reach $1500. Although the cryptocurrency fell below $100 soon after that, during 2020 and 2021, it recovered to its present value of $2481, confirming the prophecy.

Alexi's obsession with Ethereum

Ethereum, according to Ohanian, is a useful and fascinating platform with a promising future. Despite his resignation from Reddit's board, Reddit has experimented with this blockchain to build new types of user engagement.

Moon Tokens from the r/Cryptocurrency forum is a prime illustration of this. They are created on the Rinkeby Ethereum testnet and reward individuals for their involvement in the communities.
Furthermore, Reddit provides BRIK tokens to create a mini economy on the subreddit devoted to Fortnite, a popular Battle Royale game.
Ethereum is the most active network in the crypto environment right now, owing to three fundamental phenomena:
The emergence of stablecoins has resulted in a tremendous increase in cryptocurrency trading.

The rising popularity of non-fungible tokens, which are now a part of crypto-culture, even representing unique works worth millions of dollars.
The support for smart contracts has resulted in an ever-increasing number of new DeFi initiatives. This has paved the way for a slew of new coins, dApps, and applications for decentralized technology.

Are investors taking advantage of the Reddit Community?

Like I said in January, it represents a secular shift — a meeting of community and capital. So, whether it's on Reddit or elsewhere, retail investors now have more connections, formation, and trading options than ever before.

And this is going to be the new normal. Meme stocks is a cute name, but momentum investing is nothing new. People getting pumped up and excited about q stock have been seen in the most common places such as barbershops, bars, and so on.

Retail investors have only recently been able to capitalize on that opportunity in real-time, and this is what it's like in the age of ubiquitous social media.

Conclusion

Alex is just one of ethereum's ardent supporters, putting his faith in the currency with such zeal. Hopefully, many more people in the community will see ethereum in the same way he does.

Question of the day

Do you share Alex Ohanian's optimism about ethereum, and if so, why?