Vitalik Buterin says he is no longer a billionaire
Crypto’s Messianic figure, Vitalik Buterin, is no longer a billionaire. On 21 May the Ethereum cofounder tweeted, “btw btw I’m not a billionaire anymore.”
Although Buterin is known for his philanthropy (he recently donated US$4 million equivalent to UNSW) his loss of billionaire status hasn’t come from him giving away his crypto holdings. In the past two weeks Ethereum’s value has fallen close to 20 per cent, undoubtedly putting a dent in Buterin’s wealth. However, Buterin seems largely unfazed. Renowned for his “not about the money attitude” and apathetic view on his crypto generated riches, Buterin told Bloomberg earlier in the year that,
“The people who are deep into crypto, and especially building things, a lot of them welcome a bear market.”
Buterin’s admission of no longer being a billionaire came in response to a tweet he made applauding the Twitter activity of Elon Musk and Jeff Bezos. Some commenters have been quick to criticise the likes of Musk and Bezos for their past social media activity and its ability to influence markets. Musk has previously been in the crosshairs of the SEC over tweets he made regarding Tesla.
Whether Buterin will regain his billionaire status this year remains to be seen. Many are suggesting that the rocky road for crypto is only just beginning.