Blockchain intelligence agency Arkham not too long ago recognized a public Ethereum tackle belonging to the LinkedIn co-founder and enterprise capitalist, Reid Hoffman.
Their monitoring information exhibits that Hoffman holds a considerable $6.1 million strictly in ETH.
This exhibits that he has a closely concentrated “lengthy” place on the asset.
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On high of his liquid ETH holdings, Hoffman is the proprietor of a extremely coveted CryptoPunk NFT, which Arkham famous he bought for 150 ETH.
A protracted-time crypto aficionado
Hoffman has been a vocal observer and lively investor within the cryptocurrency house for over a decade.
Final yr, he revealed that his funding within the crypto sector dated again to 2013.
Hoffman acknowledged the endurance of the underlying know-how lengthy earlier than crypto really went mainstream.
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In an interview with Wired again in 2015, he argued that both Bitcoin or another cryptocurrency would be capable of obtain mass market adoption.
Hoffman has usually pushed again towards the concept that crypto is only a speculative asset. He envisions a world the place blockchain know-how removes intermediaries and creates micro-economies throughout the web.
In December 2024, he celebrated Bitcoin reaching the $100,000 milestone for the primary time.
Hoffman is much from the one member of the “PayPal Mafia” with a deep conviction in cryptocurrency. Tesla CEO Elon Musk famously purchased $1.5 billion value of BTC for Tesla’s stability sheet earlier than later promoting most of it over environmental issues.
Peter Thiel was one of many earliest institutional mega-bulls on crypto. His enterprise capital agency, Founders Fund, quietly purchased lots of of tens of millions of {dollars} value of Bitcoin and Ethereum.