What if Ether is the hottest cryptocurrency this year in terms of price movement? How could this come about? In an original report by Fortune Magazine, Alexis Ohanian, the Reddit co-founder, seemed to state that he believes this to be likely.
Earlier this year, Ohanian moved to the investment sphere and effectively stepped down from his duties at Reddit. He has apparently moved back to the investment company, which he started in 2012, that is now very much into the crypto-sphere.
According to Fortune Magazine, this firm, which is called Initialized Capital, has investments in companies like Coinbase, but it also has investments in non-Crypto firms like Instacart, Standard Cognition and Zenefits. Judging by this, Initialized Capital is diversified like any other company that is merely testing out the viability of cryptocurrencies and is not any sort of crypto-fund.
Even so, Fortune quoted Ohanian as effectively saying that 2018 will be the year of the Blockchain. In addition to this, he corroborated the view that we are in a period in the Blockchain industry that’s ripe with scams. Ohanian suggests that the key to these scams being largely destroyed will be the rise of infrastructure-based Blockchain projects to build the new version of the Internet that we have been hearing so much about.
In speaking about this, Ohanian made an analogy between the project that will finally show us what this Internet will be like, with an easy-to-use interface and Netscape. Shortly after this, he mentioned Bitcoin and Ethereum, stating clearly that he is “more bullish on Ethereum,” according to Fortune. As to his reason for this, he added that people are still building on Ethereum. At the same time, he also seemed to be making the point that the Ethereum network could be the foundational infrastructure for the next version of our Internet.
Shortly after this, he gave his prediction of Ethereum reaching $15,000 by the end of 2018, though it was truly in response to what “ballpark number” he’d give for Ethereum and Bitcoin by year’s end. Therefore, this is another instance in which it cannot hurt to be wary of flashy headlines like Reddit co-founder says “Ethereum to $15,000,” without reading the article’s full text.
Even so, this prediction could be said to remind us of Ethereum’s roadmap for 2018. Sharding and Casper are coming. Ethereum could actually be the foundation for at least, an early version, of the next Internet. There are already Testnets and Dapps that somewhat show its potential, to this effect.
By: BGN Editorial Staff