Ohanian’s Bitcoin Predictions and Views on Cryptocurrency
In a recent chat with CNBC on July 24, Alexis Ohanian, the brain behind Reddit and Initialized Capital, stood firm on his audacious forecasts for 2018, licking his lips at the prospect of Bitcoin reaching $20,000 and Ethereum hitting $1,500. This guy’s not just throwing darts blindfolded; he’s got some serious faith in the crypto game.
Bitcoin: The Resilient Store of Value
When it comes to Bitcoin, Ohanian has dubbed it “battle-tested.” With a grin, he professed that it’s “certainly the most robust” crypto around. In an age where fiscal and political uncertainty looms like a persistent cloud, he highlighted Bitcoin’s potential as a reliable store of value. He said, “As volatile as it’s been, we see [Bitcoin] continuing to go up over the long term.” Talk about conviction!
The Future of Blockchain Technology
In a more futuristic view, Ohanian contemplated the potential of blockchain, wondering if it could outshine the internet itself. Imagine a world where your browsing experience is backed by a store of value. “There’s a chance for a new internet to be built,” he mused, adding that the tech has the power to enhance financial inclusion globally—“for anyone with an internet connection.” Who knew a new internet could be just a blockchain away?
Decentralization: A Sign of the Times
While crypto is sprouting like weeds in a garden, Ohanian stressed that he’s not waving a flag and declaring an end to fiat currency anytime soon. Instead, he sees cryptocurrencies as a “changing sign of the times” that’s gradually earning its stripes as a credible alternative. His thoughts? Well, they come with a pinch of caution—he knows the roads paved with crypto can seem overly speculative.
Investing with Strategy: Picks and Shovels Approach
With Initialized Capital overseeing over $250 million, Ohanian’s strategy is all about betting on the solid, albeit less-glamorous, aspects of the crypto industry. He remarked, “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.” Ah, the classic story of investing in shovels during a gold rush!
Bitcoin’s Market Dominance
Ohanian’s splashes of optimism come at a time when Bitcoin has claimed a noteworthy portion of the crypto market, with its dominance exceeding 46% on July 23. If that’s not a “bravo,” I don’t know what is! As news from CoinMarketCap reports, Bitcoin’s dominance has further climbed to 47.2%. As for prices, Bitcoin is bobbing around $8,169, while Ethereum is teetering at about $471.
