Reddit co-founder predicts Ethereum to reach $15,000 this year

03 May 2018

ethereumEarlier in the year, co-founder of forum-posting platform Reddit revealed he would pick up his cryptocurrency investment portfolio and suspend his daily duties in the company.

On Wednesday, Ohanian suggest his full engagement in the cryptocurrency space, where he dived into Initialized Capital, a venture capital firm that began operations in 2012.

The firms, which is worth well over $250 million was started by Gary Tan and co-founded by Ohanian. Some of its investments are in Gdax, Opendoor, Soylent, Instacart, Cruise Automation and a couple of others.

During an interview, Ohanian claimed he still used his forum-posting platform to stay updated with the latest trends. His statement to Term Sheet reads:

“I still use Reddit to discover burgeoning trends. It’s a big part of why Initialized was the first check-in Coinbase. You could see these trends popping on r/Bitcoin, for example. The early, organic communities served as really great focus groups.”

Ohanian, who is the husband of tennis champion Serena Williams, revealed he left his duties at Reddit because he believes that the cryptocurrency technology will change the world.

When asked about his thoughts on Bitcoin and its future, Ohanian predicted that Bitcoin will also go to the moon, but that Ethereum will do better.

“To the moon. I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value. I’m most bullish about Ethereum simply because people are actually building on it. It’s still early days, but you know, we’ve got a few CryptoKitties.”

CryptoKitties is a game on the Blockchain that allows people to train and exchange digital cats. One might think this absurd, but every new endeavour brings its own idiosyncrasies to the table. And it seems like Cryptocurrencies have incorporated dank internet memes into their sales pitch.

He continued: “At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000. Great, now people can call me out if I’m wrong,” Ohanian added.

With this prediction, Ethereum, the second largest cryptocurrency in the world, would jump from a market cap of $67 billion to $1.5 trillion. And Bitcoin would bounce back to $20,000 with a $340 billion market cap.

However, the big question is – would Ethereum be able to sustain such a big leap in just seven months? Indeed, there is no limit to what we could see in the cryptoverse.

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