Reddit's Ohanian Backs Bitcoin for $20K
Main page Opinion, Cryptocurrency, Bitcoin, Ethereum
Hot topic
25 July

Reddit founding partner Alexis Ohanian in the interview to CNBC once again predicted the rise of Bitcoin (Bitcoin) up to $20,000 by the end of this year. While the second cryptocurrency, Ethereum (ETH/USD), should be reaching the mark of $1,500. He also sees the need to keep the focus on cryptocurrency technologies.

Earlier in May, Ohanian already made such predictions, and as he stated this time, he still believes in it saying that “people can call me out if i’m wrong”.

He also noted that even though cryptocurrencies are very volatile, the technology represents a real viable alternative, which is showing increased credibility over time and has a unique value in the long-term. However, according to Ohanian, the main thing is not to trade with a short-term planning horizon, but to work with technologies that underlie the cryptocurrency. The reason why they were one of the first investors in the American crypto exchange Coinbase, is that they believe in the underlying technology. If the unit works and if the concept of decentralized coins is set into practice, then there will be a need for people to exchange fiat for crypto, to make the appropriate transfers, and in that case, as they thought, Coinbase will win, he said.

At the same time he stressed that since they are a venture company, they try to adhere to the old school of such business, that is, to invest in various stocks. His company is not participating in ICO or purchasing tokens, as their main goal is to, first of all, get the shares in companies.

Earlier Ohanian expressed his view on cryptocurrencies as on an instrument, which gives people the ability to control their own money without the fear of government intervention, which is especially important in countries with unstable political and economic environments.

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