Vitalik Buterin Offered His Ether for Fiat, Not Bitcoin

Ethereum (ETH) creator Vitalik Buterin acknowledged that he each offered and donated away his Ether holdings for fiat when the value was $700. Whereas he didn’t specify, it appears unlikely that he offered his total ETH stake — although how a lot ETH he owns in the present day is at the moment unknown. Buterin additionally mentioned that he had not purchased any Bitcoin (BTC) since earlier than 2017.

Source: Twitter.

Supply: Twitter.

He talked about that beneath his recommendation, the Ethereum Basis had additionally offered its holdings near the asset’s all-time-high of $1,200. On a earlier podcast with Eric Weinstein, he specified that the Basis had liquidated 70,000 ETH at this value.

Ether price. Source: Glassnode.

Ether value. Supply: Glassnode.

Whereas the correlation is unclear, it’s potential that the Basis’s liquidation of its holdings precipitated Ether’s 2017 crash.

In current weeks, the Ethereum co-founder has come beneath scrutiny from some members of the Blockchain group. In a single occasion, Hashcash creator and Bitcoin maximalist, Adam Again, even called Ethereum a ponzi scheme.

Cointelegraph reached out to Vitalik Buterin, however he has not responded in time for publication.

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