Vitalik Buterin, sold 50% of His crypto in 2013 to avoid going bankrupt

December 15, 2020

Reading Time: 2 minutes

Today, a tweet was posted claiming that the co-creator of Ethereum, Vitalik Buterin, was made to put to market half of his private Bitcoin in 2013. V. Buterin had to do this for him to avoid bankruptcy.

About Vitalik Buterin

Buterin’s name is one that has been established and gained popularity in the crypto sector. Among other things he did, some majors are the co-creation of Ethereum and also the co-creation of Bitcoin Magazine.

The Ethereum co-creator revealed his personal treasure some time ago, claiming that he earned 137,000 CHR ($154,000) annually from the Ethereum company. An estimate put his most recent wealth at a range of $100 – $200 million. Sadly, it has not always been this easy and smooth running for Vitalik, the Ethereum mastermind.

Vitalik revealed that before the creation of Ethereum, seven years ago, he had a net worth of only a few thousand dollars. As a plan B, if Bitcoin prices go to zero, Buterin said that he had to sell half of his Bitcoin to ensure his financial stability.

Buterin tweeted this message in an attempt to guide crypto investors and warn them against taking a loan to secure Ethereum assets. This is in response to Peter McCormack’s tweet on him taking a loan to invest in Bitcoin. Peter is facing a lawsuit for libel by Craig Wright, the CoinGeek chief scientist.

Rise in ranks

Not so long ago, Reddit posted Buterin’s worth in cryptocurrency. Buterin has an investment of about $195 million, which translates to 333,348 ETH in his main account. His other account has roughly 430 ETH, which is worth $252,000; from this, he contributed 1000 ETH for development grants, and this move, he termed it as “YOLO.”

Last year, Reddit issued Buterin’s investments, including ETH, DOGE, BCH, and ZEC. Additionally, he has invested in the “non-ETH Ethereum ecosystem tokens” such as REP, KNC, OMG, and MKR. Vitalik also revealed he holds massive corporate shares in Clearmatics and Starkware.

Clearmatics is a blockchain foundation operating in London whose core activity is to build member-owned and government decentralized network platforms. Starkware, which operates in Israel, intends to bring a solution to “the most pressing problems of permission-less blockchains,” that is, scalability and privacy.

However, if Buterin had opted to work for Google or Ripple and not Ethereum, his investments would have been shortened.


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