Reddit Co-Founder Alexis Ohanian Bets on Crypto Infrastructure
*By Jacqueline Corba*
Bitcoin has risen back above the $8,000 mark for the first time since May. And Reddit co-founder Alexis Ohanian, who discovered the cryptocurrency's potential six years ago, thinks it has more room to go.
"It's pretty well proven now, and Ethereumーbecause of smart contractsーit allows you to program money essentially in a way that is, I think, meaningful," Ohanian, now general partner at venture capital firm Initialized Capital, told Cheddar's Hope King.
"There are enough smart people starting to build real things on this, that I think those are two pretty strong contenders."
Ohanian's company was one of the first investors in Coinbase, taking a stake in the digital currency exchange in 2012.
Before crypto got trendy, Ohanian said he was looking for the best brokers between fiat and crypto. He found one in [Brian Armstrong] (https://blog.coinbase.com/@barmstrong).
"\[Armstrong\] was the leader of it in terms of having the mind to build the storage to keep it secure," noted Ohanian. "We made the investment in it early, and these other deals have all been around the same idea of how do we make a bet on infrastructure."
Initialized Capital is also investing in CoinTracker, which lets users fill out tax forms for crypto investments, and investment platform Coinbundle. By investing in the infrastructure, Ohanian is setting up a long-term play.
Still, one of the biggest hurdles in this emerging market is attracting consumers.
But Ohanian said once a wallet can act as a browser on your mobile phone the market will really take off.
"We're looking for things like picks and shovels. It's going to come down to the experience."
For full interview, [click here](https://cheddar.com/videos/why-reddit-co-founder-alexis-ohanian-remains-bullish-on-bitcoin).
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
Boeing continues their terrifying trend of having their planes fall apart mid-flight, inflation — checks notes — is still up and the future of AI looks terrifying. Cheery!
Food waste – uneaten scraps or leftovers sent to landfills – is responsible for 10% of global emissions. Mill, a new product from the co-founder of Nest, thinks technology can play a role in eliminating it.
By the time the 2024 election is over, be prepared to see some form of a recession – but this shouldn’t be as bad as what we experienced in 2020 or 2008.
International Master Alice Lee defeated grandmaster Irina Krush to win the American Cup – becoming one of the best women players in the world in the process – but she’s not stopping there.
You can track your sleep habits or heart rate, but how about your brain? Neurable's MW75-Neuro headphones turn your focus and productivity into data you can use to avoid burnout – here's how they do it.
