Co-Founder of Reddit Predicts Ethereum to Reach $15,000

Co-Founder of Reddit Predicts Ethereum to Reach $15,000

Alexis Ohanian is the latest entrepreneur who has made predictions about two of the popular cryptocurrencies which are Bitcoin and Ethereum. He joins several other entrepreneurs, financial gurus, and technical experts in positive predictions on these digital coins.

Alexis Ohanian is better known for being the co-founder of Reddit, however, has also co-founded Initialized Capital, travel search website Hipmunk and even social enterprise Breadpig. In 2012 he was called the ‘Mayor of the Internet’ by Forbes magazine.

His predictions were said in an interview with Fortune on May 2nd.

“At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000. Great, now people can call me out if I’m wrong,” Ohanian said at the interview.

He feels Ethereum will be bullish due to the number of efforts people are taking to build on it.

At the time of writing, Bitcoin is priced at $9211 while Ethereum is $714.12.

Given the prediction by Ohanian, Ethereum will be seen to rise from $67 billion in market cap straight to $2.5 trillion.

Ohanian is full time involved with Initialized Capital where he has more than $250 million assets under management with a significant amount on cryptocurrency exchange Coinbase. Ohanian understands that patience is required for Blockchain to reach its real potential.

“This year, it’s all about blockchain. Most of it is just hype and BS, just like how it was with [artificial intelligence] and [machine learning]. Most of the really vital, protocol-level, basic infrastructure around software and blockchain will need to get built in the next year or two for us to really see the Web 3.0 we’re really hoping for… These are the types of things I think will build the foundation for a very different, much better Internet.”

Ethereum has started getting a lot of hype after predictions from several popular entrepreneurs. One such speculation was Nigel Green, CEO of financial consulting firm deVere Group who said Ethereum would reach $2500 by the end of 2018.

Many developers have found Ethereum more flexible in creating applications as opposed to Bitcoin blockchain, and thus Ohanian sees the price of Ethereum rising faster than Bitcoin this year.

Ohanian might have sold Reddit but still uses Reddit to stay up to date on the latest crypto news since he is focused heavily on blockchain projects.

Image Source: “Flickr”


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