The $6.1 Million Wallet: A Look Inside LinkedIn Founder Reid Hoffman’s Ethereum Holdings

Former PayPal colleagues are splitting their strategies, as Hoffman goes long on Ethereum, while Musk joins Bitcoin through corporate bonds.

Reid Hoffman, the prominent venture capitalist and co-founder of the world’s leading professional networking service LinkedIn, has invested heavily in Ethereum, according to Arkham Intelligence.

Records cited by the company show that Hoffman holds $6.1 million worth of ETH at a publicly known address. He also owns a CryptoPunk NFT, which was purchased for 150 ETH late last year.

Investment in Xapo

Hoffman has been a long-time advocate of crypto. He even led Greylock’s 2014 Series A investment in Xapo, a company building a Bitcoin wallet platform. He had that then commented,

“Bitcoin has the potential to be a hugely disruptive technology. It is the leading digital currency and 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 a decade later, in August 2023, Hoffman announced that he would not serve as a general partner on Greylock’s upcoming funds, choosing instead to remain involved as a venture partner.

Meanwhile, his former PayPal colleague Elon Musk is support Bitcoin, as Tesla, Inc. and SpaceX have a combined $1.3 billion worth of Bitcoin on their balance sheets.

Short-lived gains

Earlier this week, Bitcoin and Ethereum each posted gains following positive sentiment generated by a major US political speech by Donald Trump. But on Friday, both assets were slightly lower in early trading as broader technology stocks retreated.

Furthermore, broader institutional activity shows that major stakeholders are dynamically adjusting their positions: analytics data shows that SpaceX moved more than 1,000 BTC (then about $94.5 million in value) to Coinbase Prime in late 2025, amid speculation about the company’s future public offering.

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On the Ethereum side, major planned divestitures by Ethereum co-founder Vitalik Buterin in recent weeks have drawn attention to the scale of tokens being moved, even as the market remained largely unfazed by these sales.