Alexis Ohanian – Reddit co-founder and executive chairman – has revealed that he was an early Ethereum investor, having purchased 50,000 ETH during the asset pre-sale in 2014.
His stash fortune is currently worth about $82 million.
Decentralization drove his investment decisions
The 39-year-old entrepreneur and investor of Armenian descent said his ancestral tragic history is one of the main reasons he likes the cryptocurrency industry.
recently interview For Forbes, he said some of his great-grandparents were beheaded by Turkish soldiers during the 1915 Armenian Genocide.
As such, Ohanian has become a big proponent of assets that cannot be seized by centralized agencies.
“Particularly groups of people who have the idea of state persecution in their consciousness or in their collective history make the idea of a store of value not controlled by a single state very attractive. In a way, it was built into me at the time, and in a way, it made me embrace the idea of a decentralized currency.”
Ohanian invested $15,000 in its native token, ETH, knowing that a blockchain protocol called Ethereum was about to launch almost a decade ago. This means that you have purchased cryptocurrency for approximately $0.30 per token.
His investment is now worth approximately $82 million, a staggering 546,000% return. But Ohanian wishes he had bought more at that point.
“In hindsight, I wasn’t investing as much as I should have.”
he disclosed In 2021, we have “a lot” of Ethereum, without providing any details.
His forays into other cryptocurrencies
Apart from co-creating Reddit, Ohanian founded another entity, the venture capital firm Seven Seven Six.that Raised Investing $500M in cryptocurrency startups in early 2022, doubled A few months later, we raised another $177 million.
Ohanian is also a proponent of non-fungible tokens.he purchased Last summer, he gave an NFT from the Bored Ape Yacht Club (BAYC) collection to his wife, tennis superstar Serena Williams.
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