Thursday, April 15, 2021

Vitalik Buterin Sold His ETH Holdings for Fiat, Not BTC; He Did Not Buy Bitcoin in 2017 or Later

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:

“*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
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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