Alexis Ohanian Backs His BTC and ETH Predictions
The co-founding member of Reddit and Venture Capital company, Initialized Capital, Alexis Ohanian has backed his claims of a predicted $20K BTC prediction and the $1.5K for this year during an interview on the 24th of July.
Ohanion commented on the resilient BTC, the world’s leading cryptocurrency and said that it is definitely the strongest of all cryptocurrencies and a clear evident sign of a potential legal tender which he emphasized the importance of such an asset on an international and political hesitation.
He pointed to the volatile and unpredictable nature of Bitcoin, although stating that it consistently passes over the long-term. He added that his faith in Bitcoin and its strength is unwavering due to the immense number of blockchain-tech and the operations behind it.
Ohanion also brought attention to the the possibility of blockchain-technology could overshadow the internet through its constant development and advancement. He states that a new internet could possibly be created on the back of blockchain and browsing through cryptocurrencies, or a store of value as he says.
This development, should it occur, would bring financial services, goods, and others on a global online scale. He attributed cryptocurrencies as a change to the world and stressing on the fact that he wasn’t stating that fiat currency to be replaced by crypto. However, he did praise the accelerated advances in crypto as an alternative solution that is consistently showing greater potential.
Ohanion commented on the speculative nature of cryptocurrency communities and said that his company was betting on the equipment produced by the new-age tech. Initialized Capital manages over $250M and was of the first investors to pour funds into Coinbase.
The founder's unshakable faith in Bitcoin holds strong as the coin continues to dominate on the market, climbing to his highest peak of $8000 after a two-month standstill, prior to it's 2017 whopping $20K value. As of now, Bitcoin is currently valued at $8160 on the trade market and Ethereum is at $471.