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Reddit co-founder Alexis Ohanian believes cryptocurrencies, especially Bitcoin, will take hold despite recent industry developments, including the demise of FTX.
and Interview with ForbesAt , Ohanian compared the emergence of blockchain to the creation of paper, saying that we’ll see more and more applications for this technology over the years, “combining value and usefulness.”
He also touched on the topic of NFTs, saying that generational trauma is a key driver in his continued commitment to NFTs and new social networks, even amid the current “cold winter storm” in the cryptocurrency market. I said I believe there is.
Ohanian, who calls himself a “crypto pragmatist,” has shared some insights from his personal life and doubled down on cryptocurrencies. He revealed that his ancestors were victims of the Armenian Genocide and that their possessions and assets were seized by the perpetrators in the process.
Ohanian added that his family history kept him in crypto even after the crypto industry went through a tumultuous year. “There are a lot of people with a generational mindset of seeing massive inflation, even though it is very volatile,” he said, adding:
“So many countries in Latin America, so many countries around the world have this concept. Have you seen the shit that
The Reddit co-founder also revealed that he was one of the first Ethereum investors. Ohanian said when he first heard about the coin, he put in $15,000 to buy about 50,000 ETH.
Ohanian is an American internet entrepreneur and investor. He is best known as the co-founder and chairman of social media site Reddit, which he retired in 2020.
Ohanian’s 776 Continues to Invest in Crypto Startups
In 2020, Ohanian, along with Caitlin Holloway and Lissie Garvin, launched 776, a venture capital firm focused on investing in early-stage and growing startups, especially those operating in the crypto industry. I was.
So far, it has invested in 29 startups working on the blockchain technology underlying cryptocurrencies, Ohanian said in an interview. Last February, the company raised his $500 million, mostly to fund such companies.
But Ohanian warned that tech companies will face a bumpy road this year. “I hope it’s not, but I think it’s going to be an eventful year.”