Ethereum co-founder Vitalik Buterin has seen the value of his personal ETH stash soar over 700% in a single year.
With Ether surpassing its $1,428 all-time high, Buterin is close to re-joining the class of crypto owners who hold $500 million or more in cryptocurrency.
At the current ETH price, Buterin’s Ether holdings on his main wallet — “VB” — amount to over $470 million. Back in 2018, the Ethereum co-founder posted his main wallet address. Two other wallets — “VB 2” and “VB 3” — are also associated with Buterin.
In Jan. 2020 the Ethereum co-founder’s ETH fortune stood at a mere $58 million. Such has been Ether’s bullish advance over the last 12 months that long-term “hodlers” like Buterin are seeing their positions grow with increasing rapidity.
Even so, Buterin lags behind many high crypto-net worth individuals like the Winklevoss twins, billionaire investor Tim Draper, and MicroStrategy CEO Michael Saylor. The reason for this is partly because the crypto rich list is dominated by Bitcoin holders and Buterin famously sold half his BTC back in 2013 to avoid going broke.
As previously reported by Cointelegraph, Buterin is known to have sold or donated part of his ETH fortune. In 2018, Buterin also directed the Ethereum Foundation to liquidate 70,000 ETH close to the asset’s previous all-time price high.
At time of publication, ETH is up more than 13% in the last 24-hour trading period delivering a year-to-date return of about 92%.
The move above the previous all-time high was followed by a slight retrace below $1,300, though the price appears to be making a move to recapture the $1,440 mark.
Apart from positive price action, network utilization is on the rise with Ethereum processing $3 billion more in transactions than Bitcoin on a daily basis.