Connect with us

Dogecoin News

Ethereum CEO Gains Over $4 Million With Dogecoin

The founder and CEO of Ethereum Vitalik Buterin became the youngest billionaire in the world last May at the age of 27. Vitalik’s keen eye for investing at the right time has made him one of the richest people in the world. The creator of Ethereum revealed that he had invested $25k in the meme-inspired cryptocurrency Dogecoin back in 2016, and has now gained over $4 million in profits due to the ‘Dogefather’ himself, Elon Musk.

In a podcast hosted by Lex Fridman, the MIT researcher, Buterin stated that he was impressed by Dogecoin’s potential, and impulsively gambled on the meme-currency without really a certain goal in mind.

With Dogecoin growing popular in the market, the prices of the meme currency gradually rose up. Buterin had made $4.3 million after he sold half of the tokens. The total sum was donated to a non-profit organization known as GiveDirectly.

Vitalik did not expect Dogecoin to soar through the charts so quickly. Dogecoin, which started as a joke only reached its peak due to celebrity endorsement mostly from the Tesla CEO Elon Musk. 80% of Dogecoin’s growth is mainly due to frequent tweets made by Musk, who now claims himself to be the ‘Dogefather’.

Despite Elon’s influence over Dogecoin and other major cryptocurrencies, Buterin believes that Musk does not hold any ill-intentions. He also commented on Tesla’s investment and withdrawal from Bitcoin in the past, stating that sooner or later Elon’s companies will have to adapt Ethereum. Bitcoin started as a blockchain for money, while Ethereum was created as a general-purpose blockchain, Buterin added.

Vitalik is aware of the fact that everything could be a bubble and eventually burst if it hasn’t already. However, he is still optimistic about the future of digital assets which might add more to his fortune.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Dogecoin News

Dogecoin News Hub