As reported by the co-founder of Ethereum Vitalik Buterin Foundation, he was able to convince the Fund to sell a large portion of the ETH in the midst of the largest cryptocurrency bullrun in late 2017-early 2018. This greatly increased the liquidity of the company.
We are talking about selling 70 thousand esters. As a result, the company instantly earned more than $ 100 million.
ETH is still the second-largest cryptocurrency by market capitalization. However, today’s price Ethereum is very far from what it was two years ago. The whole stock market overcame its downtrend, so another breakthrough historic high, it seems something incredible.
Who earned cryptocurrency HYIP?
It helped Fund some time to secure a financial cushion. Especially given the fact that 70 million ethers were sold at a price of $ 1,400 per unit. Today, the price of currency a stretch is ten times cheaper. Buterin admitted this only recently — during a conversation with a known podcasters and managing Director of Thiel Capital Eric Weinstein. Here’s the full video of the conversation.
In other words, Buterin took advantage of the hype around the cryptocurrency and managed to earn a lot of money both for the company and for themselves personally. He has sold about 30 thousand private ETH. Then it was the equivalent of 22 million dollars.
This step raises many questions about the motives of the Ethereum Foundation. Many in the community felt that it was a necessary step, as the Foundation had spent all of Fiat reserves. However Buterin assured that at that time such a threat was not even close.
That is, it was purely an internal corporate decision, not a lack of funds.
Vitalik Buterin asked what he thinks about the subsequent collapse of the stock market. He replied that he breathed a sigh of relief. According to him, at that time kriptonyte has not yet reached a certain maturity and not gained the desired values, in order to actually pull 800 billion dollars. Co-founder of the Ethereum Foundation admitted that they never sortil market, but was able to convince the Fund to sell quite a lot of tokens.
Recall that at the peak bullrun market capitalization of cryptocurrencies exceeded $ 800 billion.
Despite the strong collapse in prices, Ethereum is still the leading platform for decentralized applications, smart contracts, altcoins, and other products. Market capitalization of crypto currencies is currently at the level of 15.6 billion dollars, while the daily trading volume reaches almost half of this number, 7.3 billion dollars.
In General, it should not be surprising, as many other famous cryptodata did the same. One of the most notorious examples is the Creator of Litecoin Charlie Lee. He sold all LTC savings, and did it almost at the peak. While many criticized his actions and called it insider trading. Because there is a possibility that he had certain information not available to other market participants.
Read on: When you need to sell your cryptocurrency? The Answer Is Charlie Lee.
Lee himself argued that the possible conflict of interests: it is about promoting the coin in the presence of their own savings in LTC. By the way, he really has a big influence in kriptonyte, so any attempt to praise the project clearly would be perceived as a desire to increase their own wealth. Not with LTC, he would be able to disseminate information about the project, not being faced with such charges.
It seems that Buterin that Charlie Lee has been very profitable and completely without consequences to capitalize on unexpected cryptocurrency HYIP. Buyers of cryptocurrency last wave – which learned about the industry and decided to invest – not so lucky. Many bought on the price at which the Ethereum Foundation they have already sold out. Because of this, as of the end of November I still was only 0.01 of the holders of ETH.
The current rate of coins you can see in the class ranking cryptocurrencies, and in our cryptodata successful traders there are many more other information.
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