Andreessen Horowitz Invested $90 Million in This Ethereum (ETH) Based Altcoin!

Andreessen Horowitz (a16z), one of Silicon Valley’s leading venture capital companies, follows cryptocurrencies closely.

At this point, a16z invested a large amount in an Ethereum (ETH)-based altcoin.

According to Unchained, a16z purchased Optimism (OP) tokens worth approximately $90 million.

The news drew attention to the Optimism Foundation’s statement in early March that it had sold approximately 19.5 million OPs worth approximately 90 million dollars.

“Leading venture capital firm a16z has acquired Optimism (OP) for $90 million, according to two sources familiar with the matter.”

One source commented on a16z’s latest crypto investment: “Optimisim did pretty well. They’re still doing airdrops.” said

While a16z and Optimisim spokesperson did not make a statement regarding the OP investment, an Optimisim spokesperson said, “We are excited about the energy and momentum Optimisim has achieved and are excited for the future.”

Despite the general decline, OP, which increased by 13% in the last 24 hours, continues to be traded at $ 2.64 at the time of writing.

*This is not investment advice.

Source