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Vitalik Buterin sold half of his Bitcoin in 2013 to avoid bankruptcy

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Vitalik Buterin sold half of his Bitcoin in 2013 to avoid bankruptcy

According to a tweet posted today, Ethereum co-founder Vitalik Buterin had to sell half of his Bitcoin in 2013 to avoid bankruptcy.

Buterin is one of the most recognizable names in the crypto industry. In addition to being a co-founder of Ethereum, Buterin was also a co-founder of Bitcoin Magazine. A few years ago, Buterin spoke publicly about his personal fortune, stating that he earns 137,000 Swiss Francs ($ 154,000) from the Ethereum Foundation every year. Recently, his net worth was estimated at $ 10 million to $ 200 million. The idea behind Ethereum isn’t always easy, however.

Vitalik said, “Seven years ago, before Ethereum even began, I had only a few thousand dollars of net worth,” However, I sold half my Bitcoin to make sure that I would not be broke if Bitcoin went to zero.”

That tweet followed Buterin’s advice: “never take out a personal loan to buy ETH or other Ethereum assets.” In saying so, he was referring to podcaster Peter McCormack (who is being sued for libel by CoinGeek chief scientist Craig Wright), who had tweeted that he took out a loan to buy Bitcoin. 

McCormack implicitly replied that he also does not recommend taking out loans to buy Ethereum.

How many cryptocurrencies does Vitalik Buterin have?

The latest release on Reddit offers some insight into Buterin’s current personal cryptocurrency wealth.

Its main address on Ethereum contains roughly 333,348 ETH ($195 million). Before that, however, he used a different address (which contained roughly 430 ETH ($252,000 USD)) to donate a 1,000 ETH development grant, which he called “YOLO” at the time.

According to an archived Reddit article published a year ago, his crypto assets include Bitcoin, Ethereum, and other assets.

These include BCH, DOGE and ZEC. Also, Buterin’s “non-Ethereum ecosystem tokens” include KNC, MKR, OMG, REP.

The Ethereum co-founder also announced, “significant corporate shareholdings” in Clearmatics and Starkware.

Clearmatics is a London-based blockchain company building a decentralized network platform owned and managed by its members. Starkware, headquartered in Israel, aims to solve the two most pressing problems of unauthorized blockchains, namely scalability and data protection.

However, if Buterin gives up Ethereum to work for Google, it would have all ended prematurely.

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