Reddit co-founder predicts Ethereum price
The co-founder of Reddit has made a bold prediction, stating that the Ethereum price will reach $15,000 each in 2018.
Alexis Ohanian says that he predicts the Ethereum price will hit $15k this year.
Such a number would see its market cap skyrocketing into the trillions of dollars.
An Ethereum price of this size would enable it to surpass Bitcoin as the world’s largest cryptocurrency potentially.
Taking the number one spot would, of course, depend on how Bitcoin fairs this year.
Ohanian now runs his venture capital firm full time.
He co-founded Initialized Capital in 2012 to “find, manage and challenge online gaming teams.”
During an interview with Fortune, Mr. Ohanian made his bullish Ethereum price prediction.
He explains that he believes the project has more long-term potential than any other currently-existent cryptocurrencies, saying:
“I still hold a little bit of Bitcoin, and I think it has such mindshare that it will continue to be a store of value.
“I’m most bullish about Ethereum simply because people are actually building on it.
“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.”
Going by his forecast, Ethereum would rocket to a $1.5 trillion market cap.
This number would be up from $67 billion in just seven months time.
While Bitcoin, on the other hand, would recover back to its all-time high it set last December.
Bitcoin’s market cap would be back to approximately $340 billion.
Ohanian’s investment firm is already invested in cryptocurrency industry giant Coinbase.
Elsewhere in the interview, Ohanian says that Initialized is determined to make blockchain-related investments are a priority in 2018.
He explained that his company believes the technology will lay the foundation for a “new Internet,” saying:
“Last year, it was all about AI and machine learning, This year, it’s all about blockchain.
Most of it is just hype and BS, just like how it was with AI and ML.
“Most of the really vital, protocol-level, basic infrastructure around software and blockchain will need to get built in the next year or two for us to really see the Web 3.0 we’re really hoping for.”
“These are the types of things I think will build the foundation for a very different, much better Internet.
“I was a kid in the 90s without much leverage when the first Internet was being built, so I see this as a hell of an opportunity.
“We’re still figuring it out.
“We still don’t have a Netscape, but it’s coming.”