Reddit Co-Founder Alexis Ohanian Stands By His $20,000 Bitcoin Prediction

Reddit Co-Founder Alexis Ohanian Stands By His $20,000 Bitcoin Prediction

One of the Reddit founders and a constitutor of a venture capital firm Initialized Capital – Alexis Ohanian – confirmed he is standing by his bullish price 2018 forecasts regarding bitcoin and ether.

According to his expectations, BTC might trade at $20,000, just like it did last year in December. ETH, in its turn, might go as high as to $1,500, a margin that the coin has never seen (ether’s ever-maximum was $1,389 in January 2018).

Ohanian Doesn’t Give Up On His Predictions

As bitcoin continued rallying this week, climbing over $8,000, Alexis Ohanian came out to support the coin. Talking to CNBC journalists on July 24, he asserted that bitcoin is definitely the most “robust” coin and one of the best shreds of evidence that cyber assets can store value. Ohanian emphasized the latter feature as the more significant one in view of political and pecuniary ambiguity.

The reason why Ohanian still believes in bitcoin is that it keeps soaring despite volatility and thanks to the latest technological advancements. They have helped bitcoin’s core – blockchain – to ease its scalability issue.

Contemplating on the possibility for bitcoin to lose its power, Reddit’s “father” said it is likely that on its basis a new internet will be built. In the meantime, bitcoin’s capability of storing value can fight the financial inequity and encourage inclusion among people who have access to the internet.

Ohanian added that bitcoin is swiftly turning into a virulent alternative to public currencies thanks to the increasing trustworthiness. He also said cryptos, in general, are showing revolutionary site, yet he made it clear he isn’t calling the world to put an end to fiat money.

Initialized Capital’s Perspectives

The firm’s founder underscored that Initialized Capital is betting on “the picks and shovels” of the arising niche in view of crypto-speculations.

Image Source: Flickr