During a CNBC interview, Alexis Ohanian entrepreneur and investor, co-founder and executive chairman of the social news website Reddit, said that Bitcoin has had quite a bit of battle testing over the years, but it’s undoubtedly the most robust and certainly one of the best proofs of crypto being a possible store of value.
When asked if he still stands his predictions of Bitcoin to $20,000 by the end of the year, he replied:
“Yes and I also stand by the fact that people can call me out if I am wrong. We’re not in the business of speculating on the sort of short to medium term prices. The reason we were that first check in Coinbase was because we believed in the underlying technology.”
At the questions, if he believes that the world’s governments will ultimately let cryptocurrencies become rivals to their stores of value to fiat currencies and if Blockchain may dwarf in ultimate impact the worldwide web, Alexis says that he thinks plenty of states may try to stop and some already have the rise of cryptocurrencies that would present challenges to their Fiats.
“The ultimate result though is the Internet as the technology is a very robust and resilient one and I think people will always still find a way. I’m not calling for the end of fiat, the technology represents a viable alternative that is showing more and more credibility over time and it’s still very volatile but in the long term has a unique value. If the things play out at the hope we will there is a change for a kind of new internet be created build on top of blockchain.”