Reddit co-founder Alexis Ohanyan announced last year that cryptocurrencies were part of his investment portfolio. Since then, his venture capital firm Seven Seven Six has been involved in a $5 million round to fund Bitcoin bounty app Lolli and has invested in blockchain infrastructure firm QuickNode.
Alexis Ohanyan is a versatile man: billionaire, philanthropist, founder of Reddit, Initialized Capital, and husband of famous tennis player Serena Williams.
“I think Ethereum is really, at least for the next year or two, really showing the most potential or at least the most potential to show something because there are so many interesting uses,” Ohanyan told Andrew Ross Sorkin on “Squawk” from CNBC Box. This morning. “NFT is just the beginning of what is being built on the Ethereum blockchain, and that’s where most of my treasure is exposed.”
Recently, Seven Seven Six, his new venture firm, closed a funding round after raising $150 million, an achievement that put him in the spotlight to understand his vision of the world of business… and the future of Cryptocurrency.
Ohanyan has not disclosed his ETH holdings, so estimates are unlikely. The registered domain is Ethereum Name Service, alexisohanian.eth. only stores 1.196858 ether, which doesn’t mean “a lot” in billionaire terms.
Ohanian has been quite optimistic about the price of Ethereum for several years. Back in 2018, he predicted that Ethereum would hit $1,500 in price, and although the cryptocurrency dipped below $100 shortly thereafter, between 2020 and 2021, it managed to recover to its current $2,481 and live up to their forecast.