In an interview this week, Chris Slowe, the CTO of Reddit, stated that they will rehabilitate the Bitcoin (BTC) payments service that had been suspended at the end of March and will also add Litecoin (LTC) and Ethereum (ETH) payments. On the other hand, Reddit co-founder stated that Ethereum (ETH) will reach $15,000 by the end of the year.
Reddit to rehabilitate the cryptocurrency payments on the platform
In an interview with the Cheddar portal about the redesign of the Reddit platform, the company’s technology director said that users, who since 2013 can pay for the site’s premium membership with Bitcoin (BTC), will be able to do that again in the near future, but this time they will also be able to use Litecoin (LTC) and Ethereum (ETH).
In addition, the company’s CTO revealed that the changes made by Coinbase to develop its Coinbase Commerce, a payment tool similar to PayPal, had hampered the use of cryptocurrencies on the platform.
Coinbase is doing a great job, is doing a major revitalization of its cryptocurrency payment platform. We just didn’t have time to update our current API integration, and once the redesign of Coinbase Commerce lands, I think we’ll see the cryptocurrency payments again on Reddit.
Christopher Slowe, the CTO of Reddit
The Reddit co-founder on Ethereum (ETH): Will worth $15,000 by the end of the year
On the same day Slowe announced new plans for cryptocurrency payments on Reddit, Fortune published an interview with the Reddit co-founder, Alexis Ohanian, in which the businessman was very enthusiastic about ETH and predicted its future price.
At the end of the year, Bitcoin will be worth $20,000. And Ethereum will cost $15,000.
The ETH prediction is quite ambitious, as the crypto is trading around $761, at this moment, according to CoinMarketCap, so by December of this year, it would have to increase 20 times its actual value.
Ohanian justified his position by saying that he is “very optimistic about ETH simply because people are taking advantage of it”, and referred to the great popularity of CryptoKitties, which raised a total of $12 million in their first round of funding.
In short, Reddit will rehabilitate cryptocurrency payments but this time will integrate LTC and ETH, besides Bitcoin (BTC). Additionally, the former Reddit CEO, Alexis Ohanian, threw an ambitious forecast on the ETH price, predicting that the Ethereum (ETH) will be worth $15,000 by the end of the year.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.