The co-founder of the second-biggest cryptocurrency in the world as per the market cap, Ethereum, Vitalik Buterin, has disclosed his ETH holdings in the recent series of conversations with Nouriel Roubini via Twitter platform.
October, 2018 | AtoZMarkets - Roubini is an American economist and a professor at the New York University Stern School of Business. He is also famous for his 2008 prediction of financial crisis that hit the world at the time.
Roubini Accuses Ethereum Co-founders of Scam
In his recent Tweet, Roubini attacked Buterin along with Ethereum co-founder Joseph Lubin, saying that Ethereum is a scam. He claimed that both of them had stolen 75% of all available Ether supply and became “instant billionaires.”
Roubini's tweet stated:
@VitalikButerin was the ring-leader – together with Joe Lubin – of the criminal pre-mining sale/scam that created Ether. They stole 75% of the Ether supply and became instant "billionaires" of fake wealth. https://t.co/d3ltYuce4u
— Nouriel Roubini (@Nouriel) October 10, 2018
Vitalik Buterin Debunks Accusations
In response to Roubini’s accusations and to satisfy the curiosity of people around the globe, Buterin revealed how much Ethereum he owns via his Twitter account. He stated that he “never personally held more than 0.9% of all ETH” in circulation.
Buterin tweeted the following:
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.
— Vitalik Non-giver of Ether (@VitalikButerin) October 10, 2018
The 24 years Russian-Canadian programmer further stated that his net worth has “never came close to $1 billion” at any point, hence, Roubini’s accusations were unfounded.
However, Buterin was further questioned by one of the users on Twitter. The user went on to ask Buterin and his co-founders to reveal their cryptocurrency trading activities.
As a response, Buterin shared an etherscan link that presumably belongs to him. The shared Ethereum address currently holds about 365K ETH which is worth more than $71 million at the press time. The address also holds about $100,000 in OmiseGo (OMG), which is an Ethereum-based coin and digital wallet that enables real-time, peer-to-peer value exchange and payment services.
Buterin further added that this ETH address details most of his significant trades as there are other addresses that are “quite small relatively speaking.”
Vitalik Buterin's Net Worth Revealed
What is Vitalik Buterin’s net worth? According to celibritynetworth.com, Buterin has a net worth of $100 million. He currently owns 365,000 ETH. His paper net worth was $567 million when Ethereum price traded at $1400 back in January 2018.
However, the price of Ethereum dropped to $900 in February, thus making Vitalik’s paper net worth slide to $300 million. Eventually, Ethereum plummeted even further in August just to trade at $300 per ETH. This implies that Vitalik Buterin’s net worth stood at around $100 million before he paid taxes.
Think we missed something? Let us know in the comments section below.