Ethereum Backer Reid Hoffman Holds $6.1M Worth of ETH Amid Institutional Shift

Prominent venture capitalist Reid Hoffman has been found to be heavily invested in Ethereum, according to recent data from Arkham Intelligence.

The publicly known address holds approximately $6.1 million worth of ETH, showcasing Hoffman's continued support for the cryptocurrency.

As a long-time investor and technologist, Hoffman has expressed interest in Bitcoin's potential to disrupt traditional financial systems on multiple levels: as an asset, currency, and platform.

In contrast to Hoffman's Ethereum holdings, his former PayPal colleague Elon Musk has chosen to back Bitcoin, with Tesla and SpaceX holding a combined $1.3 billion in BTC on their balance sheets.