Ohanian said he spent just $15,000 to buy 50,000 ether tokens.
Reddit co-founder Alexis Ohanian scored a $50 million windfall from an early bet on cryptocurrencies that helped him seal his love match with tennis legend Serena Williams.that he used a portion of his profits to buy a $3 million, 17-carat engagement ring when he proposed to Williams in December 2016.
Ohanian said he earned the $50 million through an early investment in the cryptocurrency exchange Coinbase and by buying up ether, a leading cryptocurrency token that ranks just behind bitcoin in popularity. He invested $15,000 to buy 50,000 ether. Today, a single ether token is worth about $1,651, meaning Ohanian’s original stake would be worth nearly $83 million.Serena Williams’ ring is reportedly worth about $3 million.After Coinbase went public in 2021, Ohanian used $26 million in his stock proceeds to launch his venture firm 776, which focuses on blockchain and other tech-centric investments. The firm has more than $750 million in assets under management, according to its website.
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