The social-media entrepreneur, who is married to tennis legend Serena Williams, has invested in 29 blockchain startups to date. He cashed in $26 million of the crypto exchange stock's to help finance his current venture firm, 776. Ohanian previously ran a venture firm named Initialized Capital, which invested in Coinbase before it went public in 2021. "In hindsight, I didn't invest nearly as much as I should have," Ohanian told Forbes. If he had managed to cash out when ether peaked above $4,600 in November 2021, he would have pocketed upward of $230 million. If Ohanian never sold any of his ether, it would have ballooned in value by 5,600 times to about $80 million today. Ether - the native crypto of the ethereum platform, and the second-most valuable coin after bitcoin - now trades at around $1,600. When he first invested, the Reddit cofounder paid about 30 cents per ether coin. Ohanian made a total of $50 million from early bets on the crypto and Coinbase stock.Īlexis Ohanian bought 50,000 ether for only $15,000 in 2014 - and has made a combined $50 million from early bets on the cryptocurrency and Coinbase stock, he told Forbes in a recent interview. If the Reddit cofounder kept all of the coins, they would be worth about $80 million today. Photo by Julian Finney/Getty ImagesĪlexis Ohanian bought 50,000 ether for only $15,000 in 2014, he told Forbes.
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