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Reddit’s Founder Invests $20 Billion in Blockchain Technology

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February 14, 2018 | 

Joanna Newman |  0 Comments| 

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Bitcoin’s recent decline in value and lingering threats of international regulations have still not been enough to stem the flow of virtual currencies. This, somehow, has had an opposite effect and we are now seeing an increasing number of investments and projects related to Bitcoin and its underlying Blockchain technology.

A King Among Kings


Back in 2012, Forbes magazine dubbed Alexis Ohanian as the “Mayor of the Internet” for having brought the Protect IP Act (PIPA) and the Stop Online Piracy Act (SOPA) in front of US Congress. Passed respectively in 2011 and 2012, both Acts are aimed at protecting intellectual property rights. His engagement in the fight for a free internet, as well as his status as one of the co-founders of Reddit, have now made Ohanian a respected figure in the tech world.

Now, Ohanian is devoting himself entirely to the venture fund, Initialized Capital, that he co-founded with Garry Tan back in 2011. This will be the second time that he retires from managing Reddit, ranked as the 6th most visited website in the world. “My first born is now looking better and has an improved management team.”, he said in a recent interview.

With his new position at Initialized Capital, Ohanian plans to be “at the center of the future”. Over the course of the last 6 years, his company has increased its portfolio from $250 million to $20 billion by investing in young companies that are focused on Blockchain technology.

On the company’s website, he recently wrote, “I am back with Initialized and have even bigger aspirations than before. We hope to, one day, be the type of investor that we wish we would have had back when we first founded this venture.”

Ohanian, who is also famous for his marriage to tennis superstar, Serena Williams, has proven his devotion to cryptocurrency and Blockchain technology. In fact, in the past, he has invested in a number of successful companies such as Coinbase, MediaChain, and Buttercoin.

Where to Store So Much Gold?


Certain experts in the field believe that they should be following suit and investing in companies and venture funds that focus on Blockchain technology. However, if the rumors are true, Initialized Capital will have to compete with another new company, Koin.

Koin entered the New York Stock Exchange (NYSE) on January 31st of this year and uses artificial intelligence, based on the ETF protocol, to analyze which Blockchain companies to invest in for the best return.

Now, after successfully reviving Reddit, we will have to wait and see what Alexis Ohanian can do for Initialized Capital.

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