Reddit Co-Founder Alexis Ohanian Predicts Ethereum to Reach 15,000 USD in 2018
Given Ohanian’s prediction is correct, the market cap of Ethereum would reach 2.5 trillion USD by the end of the year
On 2nd May 2018, co-founder of Reddit, Alexis Ohanian predicted the value of Ethereum will reach 15,000 USD in 2018 as reported by Fortune. Ohanian, occupied in ‘Initialized Capital’ venture capital (VC) company stated the following during an interview;
At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at 15,000 USD. Great, now people can call me out if I’m wrong.
He feels bullish on the Ethereum cryptocurrency as “people are actually building on it”. As of 3rd May 2018, according to Bitfinex.com, the current value of Ethereum is 716 USD.
If Ohanian’s prediction becomes a reality, the market capitalization of Ethereum would reach from 67 billion USD to almost 2.5 trillion USD. Bitcoin would recover to the record high price in 2017 with a market cap of 340 billion USD.
View of Alexis Ohanian on Blockchain potential
Initialize Capital, the company Ohanian works for has over 250 million USD in assets under management. The firm has invested in Coinbase, a leading cryptocurrency exchange. Ohanian also mentioned during the interview that the company prioritizes investments on latest innovative technologies. He believes blockchain will require couple of years to show its true potential capabilities;
This year, it’s all about blockchain. Most of it is just hype and BS, just like how it was with [artificial intelligence] and [machine learning]. Most of the really vital, protocol-level, basic infrastructure around software and blockchain will need to get built in the next year or two for us to really see the Web 3.0 we are really hoping for… These are the types of things I think will build the foundation for a very different, much better Internet.
In 2006, Ohanian sold Reddit to Conde Nast publishing house for an amount between 10 to 20 million USD. The actual value has not been disclosed to the public.
Earlier in April 2018, Nigel Green, CEO of deVere independent financial consulting firm made a prediction that value of Ethereum would reach 2,500 USD by the end of the year 2018. According to Green, the use of smart contracts and growing adoption to Ethereum will thrive way for four times increase in the ETH cryptocurrency.