Vitalik Buterin Sold Almost All Of His BTC In 2013 To Avoid Going Broke

Vitalik Buterin sold almost all of his BTC holdings back in 2013 in order to avoid going broke, but now he is worth up to $200 million so let’s read more about it in today’s Ethereum news.

According to his statements in the interview, Vitalik Buterin sold about 50% of all of his BTC holdings and said that people should never take out a personal loan to buy Ethereum. His net worth last year was worth about $100 and $200 million. However, he was on the edge of getting broke back in 2013.

Despite being the founder of Ethereum, he also co-founded Bitcoin Magazine and a few years ago he commented publicly on his personal wealth saying that he earned about 137,000 CHR per year from the foundation. The estimates put his wealth at around $100 to $200 million but it wasn’t always easy for him:

 “Seven years ago, before Ethereum even began, I had only a few thousand dollars of net worth. I nevertheless sold half my Bitcoin to make sure that I would not be broke if Bitcoin went to zero.”

The tweet followed Buterin’s advice to never take a loan to buy ETH or other Ethereum assets and he referred to the podcaster Peter McCormack who is now sued for libel by CoinGeek chief scientist Craig Wright, who tweeted that he took out a loan to purchase BTC. McCormack replied that he will not recommend taking out a loan to buy ETH either.

According to the recent disclosure on Reddit that gives us some more insight into his personal crypto wealth, he has an ETH main address with 333,348 ETH but he used another address in the past which contains 430 ETH but donated about 1000 ETH for development grants. According to the archived Reddit post from a year ago, his personal crypto holdings include BTC, ETH, and other assets as well as ZEC, DOGE, and BCH. What’s more to it, Buterin’s non-ETH ecosystem tokens include OMG, REP, MKR, and KNC. The co-founder disclosed “significant corporate shareholdings” in Starkware and Clearmatics.
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Please don't do things like this. I would NEVER recommend anyone take out a personal loan to buy ETH or other ethereum assets. pic.twitter.com/zCbbtUlvtQ

— vitalik.eth (@VitalikButerin) December 14, 2020

Clearmatics is a London-based blockchain company that builds member-owned decentralized network platforms. Starkware is based in Israel which aims to solve what it seems as the two “most pressing problems of permissionless blockchains” like privacy and scalability.