{"id":554965,"date":"2023-02-22T09:08:54","date_gmt":"2023-02-22T06:08:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/reddit-co-founder-bought-50000-ether-during-pre-sale-for-15k\/"},"modified":"2023-02-22T09:08:54","modified_gmt":"2023-02-22T06:08:54","slug":"reddit-co-founder-bought-50000-ether-during-pre-sale-for-15k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/reddit-co-founder-bought-50000-ether-during-pre-sale-for-15k\/","title":{"rendered":"# Reddit co-founder bought 50,000 Ether during pre-sale, for $15K"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36ed53a411d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36ed53a411d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/reddit-co-founder-bought-50000-ether-during-pre-sale-for-15k\/#%E2%80%9D_Reddit_co-founder_bought_50000_Ether_during_pre-sale_for_15K_%E2%80%9C\" >&#8221; Reddit co-founder bought 50,000 Ether during pre-sale, for $15K &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Reddit_co-founder_bought_50000_Ether_during_pre-sale_for_15K_%E2%80%9C\"><\/span>&#8221; Reddit co-founder bought 50,000 Ether during pre-sale, for $15K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvMmU3YTg2NTktYjY3Yy00MzQ0LWIyZmItYjkxZGQ3OTAyYTIyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>The co-founder of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> website Reddit, Alexis Ohanian, reportedly bought 50,000 Ether (ETH) for just $15,000 during the cryptocurrency\u2019s presale in 2014, a cost of just 30 cents per coin.<\/p>\n<p>Ohanian, who left the social media giant in 2020, told Forbes in a Feb. 21 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2023\/02\/21\/reddit-co-founders-quest-for-unseizable-property\/?sh=233fbf57795a\">article<\/a> that he found the idea of a decentralized store of value to be very attractive partly due to his Armenian heritage, prompting him to take an early gamble on Ethereum.<\/p>\n<blockquote><p>\u201cAny group of people who have in their consciousness, or in their collective history, some idea of persecution, especially by a state, makes the idea of a store of value that is not controlled by any single state very attractive. And so, in some ways it was hardwired in me then, and made me in a way receptive to the idea of a decentralized currency.\u201d<\/p><\/blockquote>\n<p>At current prices, this investment is worth a whopping $82.5 million <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/ethereum\/\">according<\/a> to CoinMarketCap, representing an increase of 549,589%.<\/p>\n<p>He continued to explain how his family\u2019s inheritance of heirloom rugs were seized by Turkish soldiers during the Armenian genocide in World War 1, which led to his interest in \u201cunseizable property.\u201d<\/p>\n<p>Due to his aversion to seizable property, Ohanian is a big proponent of self-custody and manages the private keys to some of his most valuable crypto-related investments to ensure they are kept off exchanges that are more vulnerable to the prying arms of governments.<\/p>\n<p>When he heard about Ethereum in a meeting with cryptocurrency exchange Coinbase, Ohanian claimed he saw the potential for developers to build a wide range of potentially unseizable assets such as nonfungible tokens (NFTs) on top of it.<\/p>\n<p>As a result, he made his initial investment in Ether but noted in the interview that \u201cin hindsight, I didn&#8217;t invest nearly as much as I should have.\u201d<\/p>\n<p><strong>Related: <\/strong><strong><em>Ethereum derivatives data suggests $1,700 might not remain a resistance level for long<\/em><\/strong><\/p>\n<p>Ohanian founded venture capitalist firm 776 in 2020 using the proceeds from his early investments in Ether and Coinbase, which has invested in 29 crypto-related startups and raised $500 million in Feb. 2022 to finance similar investments. <\/p>\n<p>In line with Ohanian\u2019s views that bear markets present investors with the opportunity to buy assets at discounted prices, the firm has regarded the latest market downturn as the perfect time to make long-term bets on the crypto industry.<\/p>\n<p>The firm currently boasts over $750 million in assets under management.<\/p>\n<p>Ohanian noted that although crypto is extremely volatile, \u201cthere are plenty of people who have that generational consciousness of seeing massive inflation,\u201d which makes crypto\u2019s volatility much more palatable for these people.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/reddit-co-founder-bought-50-000-ether-during-pre-sale-for-15k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Reddit co-founder bought 50,000 Ether during pre-sale, for $15K &#8220; The co-founder of the social media website Reddit, Alexis Ohanian, reportedly bought 50,000 Ether (ETH) for just $15,000 during the cryptocurrency\u2019s presale in 2014, a cost of just 30 cents per coin. Ohanian, who left the social media giant in 2020, told Forbes in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":554966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/2e7a8659-b67c-4344-b2fb-b91dd7902a22.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74956,74983,74891,95118,73711,5005,71745],"class_list":["post-554965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-coinbase","tag-decentralization","tag-ethereum","tag-nft","tag-investments","tag-reddit","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=554965"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/554966"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=554965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=554965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=554965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}