During Second Half of 2018, Vitalik Buterin Cashed Out $40 Million in Ethereum (ETH)

With so many prominent figures in the cryptocurrency world, it should come as no surprise that a deep dive into the history of these influencers arises every now and then. Alex Sunnarborg, who is a founding partner of the Tetra Capital crypto hedge fund, decided to dig into the historical account data of Vitalik Buterin. In his findings, he discovered that the Ethereum king, who has 350,000 ETH in his main wallet address now, cashed out $40 million in cryptocurrency, starting in June 2017, and going until February 2018.

Based on data through Etherscan, since 2015, has converted just under 545,000 ETH to fiat currency, which is about $49 million. Of that amount, nearly 80% happened during the period mentioned above.

Now, Buterin has holdings that add up to $50 million, reaching $500 million for his net worth in cryptocurrency, which happened when Ethereum got to December 2017.

Sunnarborg took the initiative to reach out to Buterin, hoping to confirm the information that he had discovered. However, Buterin instead said that he has never cased out at the $915 level for ETH. Therefore, his fiat currency holdings were under $30 million, showing that he had reached $8 million in donations.

Even with the substantial moves that Buterin has made for his personal gain, he has also expressed impressive eagerness in the way of charitable events and causes. He has also donated $763,970 in ETH to a nonprofit organization called Machine Intelligence Research Institute (MIRI), which focuses on handling the hazards of artificial intelligence.

In February last year, Buterin contributed $2.4 million in ETH to the SENS Research Foundation (SRF), supporting the development and research for diseases involved with aging. Days later, he contributed 100 ETH to the Pineapple Fund for a digital library, and he contributed $1 million to GiveDirectly the following month to help refugees in East Africa. Also, in 2018, Buterin contributed a collective 3,000 ETH tokens amongst three startups – Prysmatic Labs, Sigma Prime, and ChainSafe Systems – to help with Ethereum 2.0’s development.

Overall, Buterin has continued to keep a transparent disposition about the crypto assets he holds. Even though the grows of the network continues to be his main focus, the movement of ETH tokens in such high numbers could do some damage to the price of ETH. As it stands, at the time of writing, Ethereum is priced at $136.89, which has dropped by 2.49% in the last 24 hours.

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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