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\n\t\t\t\t\t\t\t\t\tFormer PayPal colleagues split strategies, as Hoffman goes long on Ethereum while Musk aligns with Bitcoin through corporate treasuries.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Reid Hoffman, the prominent venture capitalist and co-founder of the world\u2019s leading professional networking service, LinkedIn, is heavily invested in Ethereum, according to Arkham Intelligence.<\/p>\n
Data cited by the firm shows Hoffman holds $6.1 million worth of ETH in a publicly known address. He also owns a CryptoPunk NFT, which was purchased for 150 ETH late last year.<\/p>\n
Hoffman has been a long-time supporter of crypto. He even led Greylock\u2019s 2014 Series A investment in Xapo, a firm that built a Bitcoin wallet platform. He had then commented<\/a>,<\/p>\n \u201cBitcoin has the potential to be a massively disruptive technology. It is the leading digital currency and it\u2019s growing fast. As an investor and technologist, I am interested in bitcoin on three levels: As an asset, (i.e. a digital alternative to gold); as a currency (to create a new transactional layer on the internet); and as a platform (to build alternative kinds of financial applications).\u201d<\/p>\n<\/blockquote>\n Nearly a decade later, in August 2023, Hoffman announced he would not act as a general partner in Greylock\u2019s upcoming funds and instead opted to remain involved as a venture partner.<\/p>\n Meanwhile, his former PayPal colleague Elon Musk is backing<\/a> Bitcoin, as Tesla, Inc. and SpaceX hold a combined $1.3 billion in Bitcoin on their balance sheets.<\/p>\n Earlier this week, Bitcoin and Ethereum each attracted gains after positive sentiment generated by a major US political speech by Donald Trump. But on Friday, both assets were slightly lower in early trading as broader technology stocks retreated.<\/p>\n Additionally, broader institutional activity shows large stakeholders dynamically adjusting positions: analytics data indicate that SpaceX moved<\/a> over 1,000 BTC (approximately $94.5 million in value at that time) to Coinbase Prime in late 2025 amid speculation about the company\u2019s future public offering.<\/p>\n On the Ethereum side, significant planned divestments by Ethereum co-founder Vitalik Buterin have drawn<\/a> attention in recent weeks for the magnitude of tokens moved, even though the market remained largely unfazed by these sales.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
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