Decoding Buterin’s ETH Holdings And Networth; Concerns Emerge Over Drop In His Holdings
The post Decoding Buterin’s ETH Holdings And Networth; Concerns Emerge Over Drop In His Holdings appeared first on Coinpedia Fintech News
Vitalik Buterin, a name that resonates across the cryptocurrency and blockchain space, has not only transformed the blockchain world but has also earned exceptional financial fortunes. He is considered one of the most renowned and prominent figures in the cryptocurrency industry.
As one of the co-founders of Ethereum, there are assumptions making rounds about his net worth and how much Ethereum (ETH) he holds. So let’s dive deeper to know more about this visionary’s crypto holdings.
Buterin’s Impressive Net Worth!
Vitalik boasts an impressive net worth of around $600 million. His net worth comes mainly from his cryptocurrency holdings, namely his ETH holdings, that account for nearly 90%. Buterin recently voiced his personal belief in Ethereum as a store of value. Buterin commented, “If I did not believe in ETH as SOV I would not hold nearly 90% of my net worth in it.”
However, determining Buterin’s exact figure may not be possible as his non-crypto assets (such as cash, real estate, and private equity investments) and any unreported crypto holdings are not publicly available. However, his recent statement implies that a significant portion of his wealth is in cryptocurrencies, especially ETH.
Three years ago, Buterin publicly disclosed that he held 325,000 ETH, valued at $1.46 billion at the time, with the price of ETH standing at $4,500 per coin. Currently, Buterin’s holdings have decreased to 240,000 ETH, now worth around $592 million. Just in August, Vitalik diluted his ETH holdings worth over $1.2 Billion. His most recent sell-off came on the 30th of August when Vitalik sold nearly $2M worth of ETH.
Impact Of Buterin’s Transfers
Occasionally, Buterin transfers a small portion of his funds over to major exchanges and other crypto platforms alongside further philanthropic activity. This could be the reason why his holdings have decreased. Some users on X tried to bring up Buterin’s ETH sell-offs, claiming that the co-founder of ETH is busy diverting attention from his sales with random technical stuff rather than addressing his sell-offs.
Buterin has recently clarified that he never sold ETH for his personal expenses and devotes all of his ETH sales to donations. He claims that he has not sold his proceeds since 2018 and has donated all the money to promising businesses and charities. Vitalik’s sell-offs have harshly impacted Ethereum’s price, which is currently trading at $2,522. At the monthly chart, ETH is down ~20% since the 1st of August
Community Support
However, many users come up in favor of Vitalik. In one such post, a user talked about how co-founder selling their profits is frowned upon in the industry and supported Vitalik.
As a visionary and driving force behind Ethereum, Vitalik has become a highly respected figure in the blockchain community. He continues to contribute to the development of the Ethereum network and advocates for decentralized technologies.