{"id":74488,"date":"2023-02-22T14:37:00","date_gmt":"2023-02-22T12:37:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74488"},"modified":"2025-09-09T20:24:39","modified_gmt":"2025-09-09T17:24:39","slug":"reddit-co-founder-reveals-purchase-of-50000-eth-in-2014","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/reddit-co-founder-reveals-purchase-of-50000-eth-in-2014\/","title":{"rendered":"Reddit co-founder reveals purchase of 50,000 ETH in 2014"},"content":{"rendered":"<p>Alexis Ohanian, Reddit co-founder, invested $15,000 in Ethereum at $0.30 during the 2014 presale. He told <a href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2023\/02\/21\/reddit-co-founders-quest-for-unseizable-property\/?sh=233fbf57795a\"> Forbes<\/a> in an interview.<\/p>\n<p>To date, these holdings could be worth about $82.5 million (+549,589%), based on current prices of the second-largest cryptocurrency by market capitalisation.<\/p>\n<p>The entrepreneur said he regretted investing a relatively small amount.<\/p>\n<p>Proceeds from the sale of ETH formed the basis for launching Ohanian&#8217;s venture capital firm Seven Seven Six. Profits from Coinbase investments were also used for these purposes. Currently, <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> of the company stands at $750 million.<\/p>\n<p>Reddit co-founder explained his interest in Ethereum by the appeal of a decentralised store of capital. As a descendant of Armenian-speaking immigrants, he described how his ancestors lost carpet relics seized by Turkish soldiers during the genocide.<\/p>\n<p>Memories of his family&#8217;s past made Ohanian a proponent of self-custody of digital assets. The entrepreneur does not trust exchanges, whose assets could be seized by authorities.<\/p>\n<p>As reported in August 2022, media outlets reported that Seven Seven Six was preparing to launch Kryptos, a new fund of<a href=\"https:\/\/u1f987.com\/en\/news\/reddit-co-founder-to-raise-177-6m-for-new-crypto-fund\"> $177.6 million<\/a>.<\/p>\n<p>In February of the same year, Ohanian&#8217;s firm<a href=\"https:\/\/forklog.news\/soosnovatel-reddit-privlek-500-mln-v-dva-kriptofonda\/\"> raised $500 million<\/a> for two structures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reddit co-founder Alexis Ohanian invested $15,000 in Ethereum at $0.30 during the 2014 presale. He told Forbes in an interview.<\/p>\n","protected":false},"author":1,"featured_media":74489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2198,46],"class_list":["post-74488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alexis-oganian","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74488"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74488\/revisions"}],"predecessor-version":[{"id":74490,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74488\/revisions\/74490"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74489"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}