The co-founder of the mega-popular news site and forum board, Reddit, has recently expressed his stance on Bitcoin and the entire cryptocurrency market. Despite the current downward trend, Alexis Ohanian believes that the future of Bitcoin could come as he moves away from Reddit and towards more venture capital initiatives.
Ohanian also said that he plans to invest in cryptocurrencies and cryptocurrency companies. After selling Reddit to Advance Publications, the co-founder has been slowly relieving himself from the day-to-day duties at the online platform.
He apparently had more time to think about crypto and Bitcoin – as well as the entire cryptocurrency market and the situation right now. After explaining that his new job is being the head of the venture capital firm, Initialized Capital, he is also confident that he can discuss more business opportunities even with his wife, the famous tennis star Serena Williams.
While speaking about his venture capital firm in an interview with Yahoo Finance, Ohanian stated:
“I’ve wanted for a long time to get back to early stage founders to being the ‘first check’ in Initialized. It’s a lot of fun, frankly. I get to come home and have really good dinner table conversations about the things I did at work, and it’s always [about] meeting new founders, learning about the future and then sometimes rolling up my sleeves.”
Despite the slump in the crypto market, Ohanian is incredibly optimistic about the future of the cryptocurrency markets, stating:
“As a store of value, there is some real traction [with bitcoin], and actually as we’re seeing in countries like Turkey that are having significant economic crisis — where people are losing faith in the Turkish lira — we’re going to see money move over to bitcoin because as unstable as it is, it is actually a lot more stable for a lot of people than their own nations’ fiat currency. But right now, we’re still in the earliest, earliest stages.”
Ohanian concluded by doubling down his bullish statement on the future of cryptocurrencies, explaining that the price action does not really matter right now:
“No matter what the currency prices are doing, seeing more and more people creating accounts … shows more and more adoption, and their end game is to be this interface between people, their fiat money and crypto — it would be the most user friendly trusted safe secure way to do it. I just encourage people not to get too, too invested in the speculation around the day-to-day trading of the currencies.”
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