Reddit's Co-Founder, Alexis Ohanian, revealed in a recent interview with Forbes he had bought 50,000 ether (ETH) for $15,000 back in 2014.
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The investment — if he's still holding the crypto — would mean Ohanian made a whopping 549 589% (or around $83 million) return on his initial investment.
The Reddit Co-Founder, who calls himself a "crypto pragmatist," didn't elaborate on who sold him the crypto as Ethereum's mainnet was only launched in 2015. However, he acknowledged he didn't invest nearly as much as he should have.
Since then, Ohanian has become a pro-crypto investor seeking another profitable deal. So far, he backed nearly three dozen of startups focused on crypto and blockchain. In February 2022, Ohanian's venture firm Seven Seven Six led an $18 million funding round for Ethereum wallet called Rainbow.
Prior to that, iHodl reported that the firm raised $500 million for two new funds to invest in crypto startups. So far, Seven Seven Six publicly backed Axie Infinity, Lolli, CoinTracker and other crypto-related products.
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