Ethereum Co-Founder Vitalik Buterin Reveals His Stance on ETH Holdings

Ethereum co-founder Vitalik Buterin made waves in the cryptocurrency community by disclosing that he has refrained from selling any of his personal ether holdings since 2018. This revelation comes as a response to recurring speculations and market reactions surrounding his past crypto transfers to exchanges.

Buterin clarified his position on Warpcast, a decentralized social media platform built on the Farcaster protocol, where he stated, “Regular reminder: If you see an article saying ‘Vitalik sends XXX ETH to [exchange],’ it’s not actually me selling, it’s almost always me donating to some charity or nonprofit or other project, and the recipient selling because, well, they have to cover expenses. I haven’t ‘sold’ ETH for personal gain since 2018.”

Vitalik Buterin’s previous cryptocurrency transfers to exchanges have often raised eyebrows, with many interpreting them as potential sell-offs of his digital assets. In some instances, these actions have caused fluctuations in cryptocurrency prices. Ethereum, the blockchain platform he co-founded in 2015, has since become one of the most prominent in the crypto space.

In 2018, Buterin revealed that the maximum amount of ether he ever owned was approximately 0.9% of the total supply. This revelation came at a time when the total supply of ether was 75 million coins, equating to a maximum of 675,000 ether.

Currently, Buterin is estimated to hold around 250,000 ether, which, at today’s market prices, is worth approximately $390 million. This information is based on his publicly known wallet addresses. Simon Cousaert, Director of Data at The Block, noted that Buterin has sent approximately 205,000 ether to exchanges from these addresses over the years.

The remaining ether is presumed to be held in Buterin’s addresses that are not publicly disclosed or may have been sent to other parties. The exact whereabouts of these holdings remain unknown to the public.

Vitalik Buterin’s decision not to sell his ether holdings for personal gain since 2018 highlights his commitment to the broader blockchain and cryptocurrency ecosystem. As one of the most influential figures in the space, his actions and statements continue to impact the market and shape the future of Ethereum and digital currencies as a whole. His dedication to charitable donations and support for nonprofit projects underscores his vision for the positive potential of blockchain technology. This revelation serves as a reminder of his steadfast belief in the transformative power of cryptocurrencies beyond personal profit.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like