Alexis Ohanian, the co-founder of Reddit, has been very optimistic about cryptocurrencies for a long time. Alexis Ohanian even reportedly used the proceeds from his initial Ether investment to set up a crypto-focused venture capital firm.
wow! How will the story of Ohanian and his Ether coins go? Read more below.
According to a Cointelegraph report, co-founder of social media website Reddit, Alexis Ohanian, had purchased 50,000 Ether for only $15,000 ($1 = Rp.15,207) during a cryptocurrency pre-sale in 2014. At the time , the price of Ether is trading at just 30 cents per coin.
According to the Analytics Insight report (19/2/23), the Ethereum pre-sale in 2014 was one of the most high-profile moments in the history of the cryptocurrency. Lasting for 42 days, this pre-sale managed to raise more than $ 18 million or the equivalent of IDR 273 billion at that time
Ohanian, who left Reddit in 2020, told Forbes (21/2/23) that his Armenian heritage was one of the reasons he came up with the idea of a decentralized store of value, and prompted him to buy Ethereum coins early.
“Any group of people who have consciously, or in their collective history, some idea of persecution, especially by the state, makes the idea of a store of value not controlled by a single state very attractive. This also instilled in me at that time, and led me to accept the idea of a decentralized currency.”
According to CoinMarketCap, at current prices, Ohanian’s investment is already worth $82.5 million, which represents an increase of 549.589%.
Furthermore, Ohanian explained how his family’s heirloom carpet heritage was confiscated by the Turkish army during the Armenian genocide in World War 1, which then attracted him to “property that cannot be confiscated.”
Passionate about property that cannot be seized, Ohanian is a major proponent of private storage and manages private keys for several crypto-related investments to ensure they are safe from exchanges which are more vulnerable to government hands.
At the time, when he heard about Ethereum in a meeting with cryptocurrency exchange Coinbase, Ohanian claimed that he had seen the potential for developers to build a wide variety of potentially high-value assets, such as non-fungible tokens (NFT). As a result, he started making his initial investment in Ether. However, in a recent interview, he said that “in recent times, I haven’t invested as much as I should have.”
Alexis Ohanian is known to have founded venture capitalist firm 776 in 2020 using proceeds from his early investments in Ether and Coinbase. He megaku has invested in 29 startups related to crypto and has raised $500 million or the equivalent of IDR 7.6 trillion in February 2022 to finance similar investments.
In line with Ohanian’s view that bear markets give investors the opportunity to buy assets at a discount, the company he started has considered the recent market downturn as the right time to make long-term investments in the crypto industry.
Not only that, Cointelegraph reports that this company has more than $ 750 million or the equivalent of IDR 11.4 trillion in assets currently under management.
In his interview, Ohanian noted that even though crypto is very volatile, “there are a lot of people who have the generational awareness to see massive inflation,” which makes the volatility of crypto that much more pleasurable for these people.
