Andreessen Horowitz (a16z), a prominent venture capital company in Silicon Valley, has shown a keen interest in cryptocurrencies. Recently, a16z made a substantial investment in an Ethereum (ETH)-based altcoin called Optimism (OP).
According to reports from Unchained, a16z acquired Optimism tokens amounting to around million. This news caught the attention of many in the cryptocurrency community, especially after the Optimism Foundation’s announcement in March that they had sold approximately 19.5 million OP tokens for a similar amount.
Although neither a16z nor Optimism officials have officially commented on the investment, it is clear that a16z sees potential in Optimism. A source close to the matter mentioned that Optimism has been performing well and even continues to conduct airdrops.
Despite the overall market downturn, OP has managed to increase by 13% in the last 24 hours and is currently trading at .64. Please note that this article is not intended to provide investment advice.
It will be interesting to see how this investment plays out for a16z and Optimism as they navigate the volatile cryptocurrency landscape.
