Blockchain intelligence firm Arkham has identified a cryptocurrency wallet holding $6.1 million in Ethereum (ETH) that it attributes to LinkedIn co-founder Reid Hoffman. The wallet, held since approximately 2013, also contains a rare CryptoPunks NFT purchased for 150 ETH, demonstrating a long-term, concentrated investment in the asset. Hoffman’s position aligns with other members of the so-called “PayPal Mafia,” who have made significant cryptocurrency investments based on a belief in the technology’s infrastructure potential rather than short-term trading.
Blockchain intelligence platform Arkham has linked a public cryptocurrency wallet containing $6.1 million in Ethereum (ETH) to LinkedIn co-founder Reid Hoffman. The data reveals a concentrated, long-held position in ETH, alongside a rare CryptoPunks NFT acquired for 150 ETH.
Hoffman has publicly championed cryptocurrency since at least 2013, stating in a 2015 interview with Wired his belief that “either Bitcoin or another digital asset would achieve mass adoption.” His investment thesis centers on blockchain’s ability to create decentralized online economies without intermediaries.
This conviction places Hoffman among other prominent early PayPal executives, collectively known as the “PayPal Mafia,” who have made substantial crypto investments. Fellow members Elon Musk and Peter Thiel have directed significant corporate and personal capital into Bitcoin and Ethereum, focusing on foundational technology development.
Arkham’s identification of the wallet underscores a pattern of high-conviction, long-term investment in digital asset infrastructure by influential Silicon Valley figures. Hoffman’s $6.1 million Ethereum stake represents a tangible commitment to the ecosystem’s enduring potential, separate from market volatility.
