Alexis Ohanian, the co-founder of Reddit, has made some interesting revelations about where some of his million-dollar fortunes are being stashed in the cryptocurrency market.
Ohanian, who was a guest at CNBC’s Squawk Box seems to share the same opinion as many other Ethereum supporters who believe that Ethereum is one of the most promising Blockchains in the cryptocurrency industry. Unlike the Bitcoin Blockchain, which is solely focused on transacting, Ethereum’s diverse functions have placed it in the front row, as an investor’s favorite.
Millionaire Alexis Ohanian is betting big on Ethereum
Despite the many network setbacks that the Blockchain had struggled with in the past, Ohanian like many other Ethereum proponents is highly optimistic about the future of Ethereum, hence the Millionaire’s decision to invest more in Ethereum than any other asset.
When asked if he thinks there is a cryptocurrency that isn’t getting enough spotlight, he casually says “I’m not gonna plug Doge,” hinting that the meme coin may not be as attractive to him as it is to Billionaire Elon Musk.
He explains why he has faith in the shivered use case of the Ethereum network, saying “I think that there’s a lot of interesting stuff that is bubbling up. But I do think Ethereum is, at least for the year or two, really got the most to prove. It has the most potential to show something because there are so many interesting applications.”
NFTs remains an attractive industry for traditional investors
The billion-dollar NFT Industry has caught the attention of retail favorite company GameStop, and most recently tech giant Amazon, both of which have shown interest in the growing NFT industry, with they are recent job positions requiring candidates with extensive knowledge of the decentralized finance market, as well as NFTs.
With some of the biggest sports players, and Hollywood big names making a grand entrance into the NFT market, it is no surprise that millionaires like Alexis Ohanian have their gaze set on the industry.
Referring to Ethereum as ultrasound money, The millionaire is stacking his money into the Ethereum market through NFT investments.
In his words:
“NFTS are just the start of what is getting built on top of the Ethereum blockchain, and that’s where a lot of my holdings are candidly in, and I think certainly one of the most confident ones I am holding.”