Blockchain intelligence firm Arkham recently identified a public Ethereum address belonging to the LinkedIn co-founder and venture capitalist, Reid Hoffman.
Their tracking data shows that Hoffman holds a substantial $6.1 million strictly in $ETH.
This shows that he has a heavily concentrated “long” position on the asset.
On top of his liquid $ETH holdings, Hoffman is the owner of a highly coveted CryptoPunk NFT, which Arkham noted he purchased for 150 $ETH.
A long-time crypto aficionado
Hoffman has been a vocal observer and active investor in the cryptocurrency space for over a decade.
Last year, he revealed that his investment in the crypto sector dated back to 2013.
Hoffman recognized the staying power of the underlying technology long before crypto actually went mainstream.
In an interview with Wired back in 2015, he argued that either Bitcoin or an alternative cryptocurrency would be able to achieve mass market adoption.
Hoffman has often pushed back against the idea that crypto is just a speculative asset. He envisions a world where blockchain technology removes intermediaries and creates micro-economies across the internet.
In December 2024, he celebrated Bitcoin reaching the $100,000 milestone for the first time.
Hoffman is far from the only member of the “PayPal Mafia” with a deep conviction in cryptocurrency. Tesla CEO Elon Musk famously bought $1.5 billion worth of BTC for Tesla’s balance sheet before later selling most of it over environmental concerns.
Peter Thiel was one of the earliest institutional mega-bulls on crypto. His venture capital firm, Founders Fund, quietly bought hundreds of millions of dollars worth of Bitcoin and Ethereum.