The co-founder of Reddit and Initialized Capital, Alexis Ohanian, talked about how cryptocurrencies are entering the venture capital space.
Ohanian: Bitcoin Tested In Battle
In early May, Ohanian predicted $20,000 Bitcoin (BTC) and $1,500 Ethereum (ETH) for 2018 in a recent interview.
Speaking of the “battle-tested” Bitcoin, Ohanian explained that the asset is certainly the most robust and one of the best proofs that cryptocurrency is a possible reserve of value for the majority. He emphasizes this from what the instrument means to many in a global context of income and political “uncertainty”.
Ohanian is very confident about Bitcoin’s future and explained that as volatile as it has been, we see this currency continue to rise over time. And this is due to the continuous developments, to create a more reliable blockchain, that are being carried out in all areas.
He said there is an opportunity to build a new Internet on its foundation. He also considered that the idea of being able to surf with a value store has the potential to bring financial inclusion to anyone with an Internet connection. So it is quite possible that when evaluating blockchain, it could certainly eclipse the global network in its ultimate impact.
A Change Of Seasons
Ohanian also distinguished decentralized cryptocurrencies as a changing sign of the times. At the same time, he said that his position to emphasize is not that he is calling for the end of the fiat or anything like that. However, he said, crypto is moving at a faster pace to become a “viable alternative that is showing increasing credibility over time”.
In early May, Ohanian predicted that Ethereum’s price would reach $15,000 in 2018. On Wednesday, the bitcoin trade exceeded $8,500.
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