Bitcoin’s Robust Resilience
In a recent chat with CNBC, Alexis Ohanian, the co-founder of Reddit and Initialized Capital, confidently stood by his bold 2018 predictions: a staggering $20,000 for Bitcoin (BTC) and a more modest $1,500 for Ethereum (ETH). This guy clearly thinks of Bitcoin as the heavyweight champion of cryptocurrencies. Speaking of Bitcoin, Ohanian declared this digital asset as “battle-tested” and “certainly the most robust” among the contenders.
Crypto as a Store of Value
With the world’s fiscal and political landscapes resembling a turbulent roller coaster, the idea of Bitcoin as a possible store of value takes on a new gravitas. Ohanian emphasized Bitcoin’s enduring nature, noting, “As volatile as it’s been, we see [Bitcoin] continuing to go up over the long term.” This isn’t the typical investor’s cautious optimism; it’s more like the unshakeable confidence of a fortune teller who still believes in crystal balls after a particularly harsh critique.
Building the Future of the Internet
What if blockchain could outshine the Internet in terms of societal impact? Ohanian thinks that there’s a chance for a new digital playground to be constructed on blockchain technology, allowing people to browse while holding real monetary value. He envisions a world where anyone with Internet access can dive into financial inclusion like kids into a ball pit—minus the dubious hygiene.
The Changing Times of Cryptocurrency
Despite his enthusiasm for decentralized currencies, Ohanian clarified, “I’m not calling for the end of fiat.” Welp, there goes my dream of using Bitcoin to pay for my morning coffee at Joe’s Beanery! Nonetheless, he rightly pointed out that cryptocurrencies are evolving into a credible alternative, earning their street cred while slowly climbing the ladder of radical acceptance.
Investing in the Infrastructure
As for Initialized Capital’s investments, they’re not blindly tossing coins at fly-by-night schemes; instead, they’re focusing on companies developing the reliable, albeit “unsexy,” infrastructure behind this burgeoning industry. Ohanian summed it up perfectly: “We’re looking for those companies who are building the robust but very unsexy infrastructure that’s probably not going to make a headline anytime soon.” In essence, they’re the unsung heroes in the crypto saga, ready to fuel the growth of the industry from behind the scenes.
Bitcoin Dominance in 2018
So, how’s Bitcoin faring as of now? As Ohanian spoke, Bitcoin reached a market dominance of over 46 percent—its highest level in months. With current figures peaking at 47.2 percent, trading around $8,169, it seems like BTC is making a bold statement like a catwalk model strutting in designer wear. Ethereum, on the other hand, is rolling in at around $471, down a bit but still in the race.
In summary, Ohanian’s insights paint a thrilling picture of where crypto is headed. So, grab your popcorn, folks, because this digital currency drama promises plenty of plot twists and heartfelt moments ahead!
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