Ethereum (ETH) creator Vitalik Buterin acknowledged that he both sold and donated away his Ether holdings for fiat when the price was $700. While he did not specify, it seems unlikely that he sold his entire ETH stake — though how much ETH he owns today is currently unknown. Buterin also said that he had not bought any Bitcoin (BTC) since before 2017.
Source: Twitter.
He mentioned that under his advice, the Ethereum Foundation had also sold its holdings close to the asset’s all-time-high of $1,200. On a previous podcast with Eric Weinstein, he specified that the Foundation had liquidated 70,000 ETH at this price.
Ether price. Source: Glassnode.
While the correlation is unclear, it is possible that the Foundation’s liquidation of its holdings precipitated Ether’s 2017 crash.
In recent weeks, the Ethereum co-founder has come under scrutiny from some members of the Blockchain community. In one instance, Hashcash creator and Bitcoin maximalist, Adam Back, even called Ethereum a ponzi scheme.
Cointelegraph reached out to Vitalik Buterin, but he has not responded in time for publication.