Reddit co-founder gives Bitcoin prediction, says “going to see money move over to Bitcoin” 21811
Ashmita Dutta
Aug 28, 2018 at 1:42 AM

Reddit co-founder, Alexis Ohanian who runs America based news aggregation website, has predicted that fiat currency will move over to Bitcoin. He has given this prediction on the basis of a fundamental reason. In a recent interview given to Yahoo Finance, he has expressed his belief and also explained by stating the reason that Bitcoin holds more stability than few fiat currencies.

According to his statement, “We’re going to see money  move over to Bitcoin because as unstable as it is, it is actually a lot more stable for a lot of people then their own nation’s.” In the interview, he confessed his “deep interest in cryptocurrencies”. He has also shed light on his investments in the prominent cryptocurrency exchange, Coinbase. He expressed his inclination towards the development of infrastructure that would support the entire domain of digital currency.

See also: A documentary will soon be aired to "explore the world of Bitcoin"

The interview began with his exposure to the crypto market and finally his entry into this sphere. He mentioned that Gary Tan, his partner has been the primary reason behind his entry. He has commented, "[Tan] made the initial bet on Brian Armstrong before he even had a co-founder, and in the earliest days of Coinbase and so its to Gary’s credit actually that we’ve been there early and we’ve made some other investments since.”

In an organisation known as DyDx, the Reddit co-founder has also made an investment. He specified about the investment in this mentioned decentralised exchange meant for derivatives. This particular trading platform has received investments  from eminent figure in crypto world as well, namely, Brian Armstrong, Coinbase CEO. The platform has a goal of providing leveraged yet short products for ERC20 tokens and Ethereum [ETH].

See also: Bitcoin mining accounts for almost 1% of the world's power consumption

In a question on his expectation for this digital currency, he stated that Bitcoin [BTC] was a proper store of value for those nations whose currencies have been unstable. As oer her opinion, “Right now as a store of value there is some real traction. And actually, as we are seeing countries like Turkey that are having significant economic crisis.” 

His comment on Coinbase

He has stated that the crypto market place is at the “earliest, earliest stages”of its development. He mentioned about Coinbase, commenting, “A company like Coinbase is in a great position to help us get there because a lot of it ends up being a user interface standpoint. It ends up being, can this be friendly enough [or] useful enough, that I can go to my dad and say: Here is why you should be using this.”

Image via Shutterstock

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