Vitalik Buterin, the 27-year-old Ethereum ETH/USD co-founder, is now one of the world’s youngest crypto billionaires, as the value of his Ether holdings surged to new highs over the weekend.
What Happened: Ethereum gained over 9.5% overnight to hit a new all-time high above $3,200 earlier today.
The price action pushed the dollar value of Buterin’s ETH holdings past $1.06 billion, according to the account balance depicted on Etherscan.
The Canadian-Russian programmer co-founded Ethereum in 2015, along with seven others, including Polkadot (DOT) founder Gavin Wood and Cardano (ADA) founder Charles Hoskinson.
Why It Matters: In 2018, Buterin responded to NYU economist Nouriel Roubini’s accusations of “stealing 75% of Ether supply” to become an instant billionaire of “fake wealth” by disclosing the extent of his ETH holdings.
“I never personally held more than ~0.9% of all ETH, and my net worth never came close to $1B. Also, I'm pretty sure there are no criminal laws against pre-mining,” said Buterin on Twitter.
The value of these holdings had also considerably declined during the time of his statements.
The crypto winter of 2018 saw ETH’s value drop by over 90% since its high in January, and Buterin’s ETH holdings amounted to around $40 million at the time.
See also: Ethereum Crosses $3,000 Mark For First Time Ever, Valued Higher Than Disney
Today, despite holding a smaller quantity of ETH, the value of his holdings exceeded the billion-dollar mark making him one of the “youngest self-made billionaires” to date.
Image: John Phillips on Wikimedia Commons
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