Reddit founder invested $15,000 in Ethereum back in 2015, made 84 million dollars profit
Last Updated on 6 November 2023 by CryptoTips.eu
Anyone who bought Bitcoins back in 2010 and kept them until now has no regrets. HODLing crypto for the long term can be very profitable. Ethereum (launched in 2015) HODLers also had enough time to create fortunes already.
This week Alexis Ohanian shared his successful story of investing in Ethereum as from the moment of launch. First of all, we should note that this entrepreneur was successful long before the birth of Bitcoin and Ethereum. Already in 2005 he founded the successful social network Reddit together with his buddy Steve Huffman. By now, Reddit is one of the largest and most used social media platforms in the world.
Coinbase
In 2014, Alexis read about Bitcoin and after meeting with the board of directors of Coinbase (then a very small crypto platform, now the largest in America) he decided to invest $15,000 in a new coin that would soon be launched called Ethereum. He thus purchased 50,000 Ether.
Reddit cofounder Alexis Ohanian paid only $15,000 for ether worth $80 million today - and has made $50 million on the crypto and Coinbase stock https://t.co/YwReHYuXFC
— Insider Business (@BusinessInsider) February 23, 2023
By now, that 50,000 Ethereum is worth some $84 million. A very nice profit in 8 years time.
No app
However, with a large part of his Ethereum profits, Alexis bought an engagement ring for Serena Williams, the American tennis champion with whom he also has a daughter.
He even told a funny story about their first meeting, in a hotel in Rome back in 2015.
She asked me what I did. I said I started and run this company called Reddit. She pretended like she knew of it, but she didn’t. She goes to her phone and searches the app store and she’s like ‘how do you spell it?’ and I’m like ‘R-E-D-D-I-T.’ I’m sweating because I have to try to explain to her we don’t have an app.
Ohanian said.
Reddit is estimated to be worth around 10 billion dollars today.
