Ethereum

Ethereum inventor Vitalik Buterin sends 30,000 Eth to Bitstamp

Vitalik Buterin has transferred 30,000 Eth to Bitstamp and the move comes just days after Litecoin’s founder declared he had sold all his LTC.

The 30,000 Eth are valued at $22 million. Buterin hasn’t publicly confirmed whether he has sold the 30,000 eth or otherwise, but his known public address shows he still has some 375,003 eth, currently worth almost $300 million. Because there is no direct indication that Buterin sold that 30,000 Eth, it is likely he transferred the funds to perhaps pay contractors with him so stating around two days before the transfer: “I just paid ~10 contractors in ETH with amounts calculated based on exchange rates from USD, SGD and TWD today.”

Another possibility is that the Ethereum founder may have diversified his holdings. If indeed he has sold his Eth, it isn’t the first time he has done that because back in April 2016, he cashed out 25 per cent of his Eth holdings when price was just $10. At the time he said the reason behind selling was that he needed to diversify his crypto holdings.

 

About the author

Sophia Chilton

Sophia Chilton

Sophia is a former Morningstar analyst who became fanatical about Blockchain after she first purchased Ethereum in October 2015 and held it right up until April 2017. She is presently in the process of co-founding her own start-up called The Digital Toyshop which she has initially been able to finance with her Ethereum profits. She lives between New York and Hong Kong, where she grew up between.

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