Reddit Co-founder Bought 50K ETH in 2014

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Alexis Ohanian, co-founder of Reddit, invested $15,000 in Ethereum at 30 cents in a 2014 presale, he has revealed in an interview with Forbes.

By now, these investments could cost about $82.5 million based on the current price of the asset.

He has expressed regret that he had invested a relatively small amount.

The proceeds from the sale of ETH became the basis for the launch of the venture capital firm Seven Seven Six.. Currently, the company’s AUM has reached $750 million.

The co-founder of Reddit has attributed the interest in Ethereum to the appeal of the idea of a decentralized store of wealth. As a descendant of US-speaking emigrants, he told how his ancestors lost the relic carpets captured by Turkish soldiers during the genocide.