Vitalik Buterin: Ethereum Foundation earned $100 million on price peaks of 2017.

[Paha87]

Ethereum Foundation sold 70,000 ETH in December 2017 and January 2018, when the price of the second-most capitalized cryptocurrency was near its maximum values, earning $100 million on this, Vitalik Buterin said during a podcast with the managing Director of Thiel Capital Eric Weinstein, writes Bitcoinist.

According to Buterin, he convinced the Ethereum Foundation to take such a step, thanks to which the organization doubled its financial reserves. At the time, many members of the community wondered about the true reasons for this decision. One of the assumptions was that the Ethereum Foundation at that time exhausted all its reserves in Fiat, but Buterin denied this version.

In a conversation with Weinstein, the Ethereum founder did not talk about whether he was selling coins that belonged to him personally at the time, previously, Reddit users reported that in December 2017, he sold 30,000 ETH. Presumably, he could get about $22 million for them.

Recall that in January 2018, ETH reached a price high of about $1400, but today it is 10 times cheaper. According to Buterin, he is rather pleased with this fact, since the cryptocurrency industry has not yet created enough value for its total capitalization to reach trillions of dollars.

At the same time, the founder of Ethereum insists that, having information about the sales carried out by the Ethereum Foundation, he did not short the cryptocurrency.

Recall that after the price peaks, the Ethereum Foundation has allocated several significant grants to various projects, and continued to do so in the course of 2018. Already in 2019, the organization has allocated $30 million for the development of key projects, including $19 million for ETH 2.0.

Earlier in December, it became known that the Ethereum Foundation plans to cut funding for part of the internal teams, however, as stated by Buterin, this is not due to a lack of funds.

According to Etherscan, 11,000 ETH (about $1.5 million) have been withdrawn from Ethereum Foundation accounts in the past three months. Now the balance on the accounts of the organization is just over 597 000 ETH.

At the end of last year, Buterin said that he never possessed more than 0.9% of the volume of supply of the second-most capitalized cryptocurrency, and the amount of his assets never approached the mark of $1 billion.

The original article here - https://forklog.com/vitalik-buterin-ethereum-foundation-zarabotala-100-mln-na-tsenovyh-pikah-2017-goda/

[Goodcat49]

They earned a lot, but many other investors lost. Great job, Ethereum foundation!

[sirty143]

I think he's not a billionaire but a multi-millionaire for having achieved a net worth of $100 million... my congratulation Vitalik you're a genius!

[Paha87]

I think he's not a billionaire but a multi-millionaire for having achieved a net worth of $100 million... my congratulation Vitalik you're a genius!

This man I have causes only positive emotions. Pleases his calm and cool mind. For me, this is the most interesting person in the world of the crypt!

[Fenix]

I am a little surprised that Buterin accurately determined the time of peak cryptocurrency prices, including ethereum. It was precisely December 2017 and January 2018. Many did not know what to do at that time and how long the cryptocurrency will grow in price. With such a significant price increase, we then faced for the first time. He also always gives real predictions about the development of cryptocurrency and its price. It seems that he came to our time from the future and therefore knows about many events and is well versed in them.

[Noverteno]

Well, we must pay tribute to Vitaly Buterin, he is very well oriented in the growth of cryptocurrency prices and correctly determined the peak of this price increase. This further increased my respect for him.
At that time, few did the right thing and began to sell their cryptocurrency at such high prices. This was, in fact, the first such significant growth in the cryptocurrency market.

[LogiC]

I think he's not a billionaire but a multi-millionaire for having achieved a net worth of $100 million... my congratulation Vitalik you're a genius!

This man I have causes only positive emotions. Pleases his calm and cool mind. For me, this is the most interesting person in the world of the crypt!

Agree and he is even honest on what he says during media out break, Imagine would you spill that you sell at high peak some of youre tokens? He is not hypocrite like other crypto founder. How about Macafee? I am bit fond of him during his start but loosen up due to his scandal on social medias.