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Wednesday, May 2, 2018

Reddit co-founder predicts $20,000 Bitcoin and $15,000 Ethereum - by the end of the year!

Earlier this year Reddit co-founder Alexis Ohanian left his role at Reddit to focus on his new project, Venture Capital firm Initialized Capital - which focuses on "early phase" investments in potentially hot new companies. One of those companies they got in to early includes CoinBase, an investment that has surely paid off.

Speaking to Fortune magazine Alexis Ohanian made some bold bullish predictions, stating:

"I’m most bullish about Ethereum simply because people are actually building on it." Ohanian continued "At the end of the year, Bitcoin will be at $20,000. And Ethereum will be at $15,000. Great, now people can call me out if I’m wrong."

While a few weeks ago we named Ethereum the 'most undervalued' among the top cryptocurrencies - $15,000 honestly seems a bit high.  But with multiple potential solutions to the current scaling issues on the table, perhaps we're in for a pleasant surprise.

Ohanian believes this year is all about blockchain, similar to how last year was all about artificial intelligence and machine learning - with blockchain tech being the key in creating a better "new internet".

*UPDATE* Alexis has tweeted a correction "I misspoke in that Fortune piece: I meant to say 15-hundred not 15-thousand by end of year for #ETH. Still bullish, though!"

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Author: Ross Davis
San Francisco News Desk