Vitalik Buterin Denies the Fork of Ethereum Network; Addresses What Caused Infura Service Outage
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The co-founder of Ethereum, Vitalik recently disclosed that he sold and donated away his ETH holdings when the price of the digital token attained $700 back in 2017. He also revealed that the Ethereum Foundation sold at $1,200, stating that the money has since gone into devs and grants.

Buterin made this disclosure in a post on Twitter on 17th August 2020. Although the Ethereum creator did not specify, it seems unlikely that he sold all his Ether holdings at that time.

Vitalik Buterin Sold His Ether Holdings for Fiat In 2017

He possibly sold and donated what looks like his entire ETH holding in 2017. But that was long years behind us. He may have accumulated more of Ether between now and when he sold the crypto asset in 2017. However, he did not disclose how much of ETH he holds today and neither disclosed whether he initiated a selloff of his entire Ether holdings in 2017.

Vitalik Buterin noted:

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“*I* sold ETH at ~$700, or about half the top (actually, both sold and donated). The *ethereum foundation* sold at ~$1200, and that money has gone into devs and grants since then.”

He further disclosed that he did not purchase any Bitcoin (BTC) throughout 2017 and later.

Ethereum Foundation Sold At $1,200

Vitalik Buterin also stated that he advised Ethereum Foundation to sell its ETH holdings, a sale that was later effected when the digital token was priced at $1,200.

The founder of Ethereum had previously specified during a podcast with Eric Weinstein that the Foundation liquidated 70,000 ETH at the aforementioned price. The Foundation’s liquidation of its Ether holdings has been envisaged to have contributed to the historic crash of ETH in January 2018.

Over the past few weeks, Vitalik Buterin has been facing criticism from the crypto community members, especially Bitcoin advocates.

He was precisely criticized by the popular Bitcoin proponent, Adam Back, calling Ethereum a Ponzi scheme, and categorized the popular blockchain project with Bitconnect, Onecoin, others.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.