Alexis Ohanian, the co-founder of Reddit, has joined Twitter CEO Jack Dorsey and Tesla CEO Elon Musk in updating their Twitter bios to “#Bitcoin.”
In reaction to a tweet by tech entrepreneur and erstwhile Coinbase chief technical officer Balaji Srinivasan, Ohanian’s bio upgrade appeared to be in response. Srinivasan illustrated the increasing popularity of Bitcoin to the likes of Musk and Dorsey as part of the tweet, labeling Bitcoin (BTC) “the flag of technology.”
The co-founder of Reddit is a recognized crypto enthusiast and has formerly disclosed that he owns a proportion of his cryptocurrency capital. In May 2020, Ohanian noted that crypto was around to remain and lauded the industry’s degree of “top-tier talent building.”
At $20,000 and $1,500, respectively, Ohanian has initially provided positive value estimates for both Bitcoin and Ether (ETH). The Reddit co-founder announced at the time that he was most optimistic about Ethereum.
Reddit along with its over 1.7 billion monthly users has recently entered into a collaboration agreement with the Ethereum Foundation, as stated earlier by Cointelegraph. Reddit aims to implement the necessary scaling technologies as a portion of the partnership to support initiatives like tokenized group points on the Ethereum network.
Ahead on Friday, Musk’s bio upgrade appears to trigger a burst of BTC purchasing activity, despite Bitcoin momentarily exceeding $38,000 in nearly two weeks for the first time. The recent revival of BTC interest also tends to spark by the behavior of many retail investors in the conventional trading system and their care.
Within the last 24-hour trading cycle, Bitcoin’s Friday rally has seen over $850 million in BTC derivatives, mainly shorts, liquidated. And over 310,000 trader positions submerged according to Bybt numbers, with the single largest liquidation occurring at approximately $10 million on BitMEX.