*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).
The House of Representatives recently passed a bill aimed at increasing transparency in healthcare.
If you have a flexible spending account, here's some short information for you so you don't leave money on the table.
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
The European Union is investigating Elon Musk's X over alleged illicit content and disinformation on its platform. Cheddar News breaks it all down and discusses what it could mean for users.
Adobe and Figma called off their $20 million merger, Southwest Airlines gets fined, Nippon Steel is buying U.S. Steel and oil and gas prices surge after a pause in shipments.
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Japan's Nippon steel is buying U.S. Steel for $14.9 billion.
Southwest Airlines will pay a $35 million fine as part of a settlement over a 2022 holiday season disaster that saw the airline cancel thousands of flights and leave millions of people stranded.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
