Former PayPal colleagues split strategies as Hoffman goes long on Ethereum, while Musk aligns with Bitcoin via corporate coffers.
According to Arkham Intelligence, Reed Hoffman, a prominent venture capitalist and co-founder of leading professional networking service LinkedIn, is investing in Ethereum.
Information provided by the company shows that Hoffman has $6.1 million worth of ETH in one public address. He also owns CryptoPunk NFT which was bought late last year for 150 ETH.
Invest in Xapo
Hoffman has been a long-time proponent of crypto. He even led Greylock’s 2014 Series A investment in Xapo, the company that built the Bitcoin wallet platform. He then explained,
“Bitcoin has the potential to be a massively disruptive technology. It is the leading digital currency and it is growing rapidly. 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 transaction layer on the Internet); and as a platform (to build alternative types of financial applications).
Nearly ten years later, in August 2023, Hoffman announced that he would no longer act as a general partner in Greylock’s upcoming fundraiser and would instead participate as a venture partner.
Meanwhile, his former colleague Elon Musk is backing Bitcoin as Tesla, Inc. and SpaceX have $1.3 billion in Bitcoin on their balance sheets.
Short term benefits
Earlier this week, Bitcoin and Ethereum each made gains following positive sentiment generated by a major US political speech by Donald Trump. But on Friday, both assets were slightly lower in early trade as broader tech stocks fell.
In addition, broader institutional activity shows large stakeholders dynamically adjusting positions: analytical data shows that SpaceX transferred more than 1,000 BTC (worth about $94.5 million) to Coinbase Prime at the end of 2025 amid speculation about the company’s next public offering.
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On the Ethereum side, significant planned investments by Ethereum co-founder Vitalik Buterin have moved into the token scale in recent weeks, although the market has largely ignored these sales.
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