- Reddit co-founder Alexis Ohanian believes that crypto is proving that it is “here to stay”
- Blockchain is attracting “top tier talent”
- Reddit first invested in Coinbase since 2011
Reddit co-founder Alexis Ohanian has stated that he believes cryptocurrency is going through a “spring” and that there is increasing evidence that it is “here to stay”. Speaking to Yahoo News, Ohanian added that the arrival of big investors and the influx of “top tier talent” to blockchain projects proved that cryptocurrency maintains the potential for “long term value creation”.
Ohanian is Seeing Crypto “Spring”
Reddit and Ohanian are no strangers to cryptocurrency – alongside setting up a vibrant community through the platform, Reddit put its money where its mouth was in 2011 when it invested in Coinbase, long before it was considered one of the default gateways for new investors.
This investment has played out very well seeing as Coinbase and crypto have exploded in the intervening years, and Ohanian thinks that what we have seen so far is just the start:
We really do see a crypto spring right now in terms of top tier product engineers, developers, designers, building real solutions on top of the blockchain, and that to me is the most interesting part…
Ohanian sees the building of these “real solutions” as “the best signal of long term value creation”, seemingly echoing the thoughts of many that only those blockchain projects that have real world use will be of value down the line, with many falling by the wayside as the space matures and finds its feet.
Crypto is a “Prudent Hedge” in Uncertain Economic Times
Ohanian also spoke about the growth of cryptocurrency as a financial hedge, which was something that was far from the minds of investors in 2011 but is becoming ever more evident at the moment. Alongside the growth in genuine blockchain use cases, the Reddit co-founder added that crypto is becoming “a prudent hedge” and that the interest in Bitcoin to big players was another example of crypto getting its feet under the table:
It’s interesting to see OGs of wall street getting into crypto and buying Bitcoin and the like, but I think it’s increasingly showing that it’s here to stay.
As for his personal targets, Ohanian was naturally coy on his holdings, although he did add that he “feels pretty good” about his level of investment and that he didn’t want to change “too much of it”. Maybe room for a little Dogecoin in there perhaps?