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In just a few years, Vitalik Buterin has become one of the richest and most influential people in the world. how did he do that? And what is he doing with his money now? Let’s take a closer look.
Who is Vitalik Buterin?
Vitalik Buterin in the Bloomberg interview
Buterin is a Russian-Canadian programmer and author best known for his work on the Ethereum blockchain platform. He first became interested in Bitcoin in 2011 when he was just 17 years old. He quickly became involved in cryptocurrency development and co-founded Bitcoin Magazine in 2013.
Buterin launched the Ethereum network in 2014. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed, with no potential for fraud or third-party interference. These contracts are stored on the Ethereum blockchain, which is a public, tamper-proof ledger of all transactions on the network.
Since its inception, Ethereum has grown to become the second largest cryptocurrency by market cap, after Bitcoin. As of June 2018, Buterin’s personal fortune was estimated at around $400 million. Today, Vitalik Buterin’s fortune is likely to be quite large, some estimate it at several billion dollars.
How did Vitalik Buterin become so rich?
Buterin’s wealth comes primarily from his holdings of Ether, the native cryptocurrency of the Ethereum network. When Ethereum launched in 2014, Buterin held about 7% of all ether in circulation. At Ethereum’s November 2021 peak, that stake would be worth more than $4 billion. Buterin’s ether holdings are estimated to be in the hundreds of millions to a few billion dollars depending on the cryptocurrency’s price.
Buterin also made a significant amount of money from his early involvement in Bitcoin. He is believed to have amassed a small fortune in Bitcoin in the early days of cryptocurrency and still owns a significant amount of BTC today.
What is Vitalik Buterin doing with his fate?
What does one of the richest young men in the world do with all his money? According to Buterin, he doesn’t spend much of it. In a 2017 interview, he claimed he spends less than $30 a day.
Instead, Buterin has used his funds to support the development of projects related to Ethereum and other cryptocurrencies. He is a well-known figure in the crypto community and is often seen at industry events and conferences.
EOS is Ethereum on steroids.
The name refers to the fact that the core team learned from Ethereum’s amateurish naivety and idealism and created a team of professional, highly talented software developers to create a smart contract platform with great scalability and speed.
— vitalik.eth (@vitalikbuterin) June 27, 2022
Buterin has also emerged as a major crypto philanthropist in recent years. In 2018, he pledged to provide up to $1 billion in Ethereum over the next few years to support promising blockchain projects. He has also donated large sums of money to charities such as disaster relief and education.
Vitalik Buterin Fortune Conclusion
Vitalik Buterin is one of the richest people in the world due to his early involvement in Bitcoin and Ethereum. He is a big philanthropist and supports many cryptocurrency projects. Despite the dependence of his wealth on the price of Ethereum, Buterin has repeatedly criticized his own tokens. This makes Crypto Pro more likeable.
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