Co-Founder of Reddit predicts Ethereum reaching 15.000$ this year
Written by Gabrijel Šerjak on May 3, 2018
Co-Founder of Reddit Alexis Ohanian predicts the price of Ethereum (ETH) will reach $15,000 and surpassing Bitcoin’s market cap in 2018:
At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000.
If the prediction proves true, the ETH market cap would soar from $73 bln to nearly $2.5 trln, while Bitcoin would recover to last year’s record high price and market cap of $340 bln.
Reddit co-founder Alexis Ohanian stepped down from his daily role at the company. Ohanian is now full-time at Initialized Capital, the early-stage VC firm he co-founded with Garry Tan in 2012. The firm has more than $250 million in assets under management, and its investments include Coinbase, Instacart, Zenefits, Opendoor, Soylent, Cruise Automation, and Standard Cognition.
Ohanian made bullish Ethereum price prediction during an interview with Fortune, explaining that he believes this project has more long-term potential than any other currently-existent cryptocurrency.
I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value. I’m most bullish about Ethereum simply because people are actually building on it. It’s still early days, but you know, we’ve got a few CryptoKitties.” he said, predicting later that “ At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000.
Alexis plans to double down on Blockchain investments.
This year, it’s all about blockchain. Most of it is just hype and BS, just like how it was with AI and ML. 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. So those are the types of companies we’re investing in now. These are the types of things I think will build the foundation for a very different, much better Internet.
I was a kid in the 90s without much leverage when the first Internet was being built, so I see this as a hell of an opportunity. We’re still figuring it out. We still don’t have a Netscape, but it’s coming.
What’s interesting is we’re seeing more teams with business and product backgrounds moving to start or join blockchain projects. So you have your earliest adopters who are very hard core on the engineering side, and now we’re starting to see people who have experience at later-stage startups who understand the UX and business portion of it. This stuff doesn’t actually change the world unless everyone is using it. And the way everyone is using it is if there are interfaces that make sense and that there’s product that’s beautiful and effective. That’s just starting to happen now. As an investor, I get to have a front row seat to this new Internet.