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Reddit co-founder hoists the Bitcoin flag on Twitter amid Cost surge

Alexis Ohanian is the most recent social networking and technology character to upgrade his Twitter bio to read"#Bitcoin."

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Reddit co-founder hoists the Bitcoin flag on Twitter amid Cost surge

Ohanian's bio upgrade appeared in response to a tweet by tech entrepreneur and former Coinbase chief technology officer Balaji Srinivasan. As part of the tweet, Srinivasan highlighted the rising appeal of Bitcoin into the likes of Musk and Dorsey calling BTC"the flag of technology"

The Reddit co-founder is a known crypto urge and has revealed that he retains a percentage of his riches in cryptocurrency. Back in May 2020, Ohanian commented that crypto was here to stay and commended the level of"top-tier talent building" in the industry.

Ohanian has previously offered optimistic price predictions for both Bitcoin and Ether at $20,000 and $1,500 respectively. At the moment, the Reddit co-founder disclosed that he was most-bullish about Ethereum.

As previously reported by Cointelegraph, Reddit with its over 1.7 billion monthly visitors lately inked a partnership deal with the Ethereum Foundation. As part of the collaboration, Reddit intends to introduce the requisite climbing technology to support jobs like tokenized community points on the Ethereum network.

Musk's bio update earlier on Friday seemed to ignite a flurry of BTC purchasing activity with Bitcoin briefly surpassing $38,000 for first time in almost two weeks. The current resurgence in BTC excitement also seems fuelled by the activities of many in the mainstream trading institution and their remedy of retail participants.

On Thursday, many retail agents like Robinhood prevented users from buying shares like GME and AMC. These stocks had been undergoing parabolic gains to the benefit of retail holders together with the consequent short-term threatening to bankrupt prominent hedge funds.

Meanwhile, Bitcoin's Friday surge has seen over $850 million in BTC derivatives, mostly shorts, liquidated during the last 24-hour trading period. According into bybt data, more than 310,000 dealer positions went submerged with the largest single liquidation happening on BitMEX to the tune of about $10 million.

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