Ethereum’s co-creator, Vitalik Buterin, has once again achieved billionaire status in the cryptocurrency world. This resurgence follows closely on the heels of Ether’s price surge, surpassing the $4,000 mark for the first time in eight months, according to data provided by a specialized blockchain analytics company.
Arkham, a blockchain intelligence platform, announced Buterin’s renewed billionaire status on Saturday. Their report indicates that Buterin’s portfolio is currently valued at around $1.04 billion. This valuation is largely due to his substantial holding of 240,042 ETH, in addition to smaller investments in various other cryptocurrencies, including Aave Ethereum (AETHWETH), WhiteRock (WHITE), Moo Deng (MOODENG), and Wrapped Ethereum (WETH).
Traders Predict New Record Highs for Ether
Ether (ETH) experienced another upward surge on Saturday, gaining 6.38% to reach a peak of $4,332. This followed its return to the $4,000 level on Friday, a price point unseen since December 2024. Meanwhile, Bitcoin’s (BTC) share of the total cryptocurrency market capitalization decreased.
According to data from Nansen, Ether’s current trading price, at the time of this writing, is $4,244. You can view detailed transaction data on Nansen’s platform.
Many cryptocurrency traders are now speculating that Ether is poised to surpass its all-time high of $4,878, which it reached in November 2021. Crypto trader Ted commented on X, stating that it “is just a matter of days now.”
CoinGlass data reveals that a price movement towards $4,500 could potentially trigger the liquidation of approximately $1.35 billion in short positions, fueling speculation among other traders about a potential short squeeze in the near term. Review the liquidation map on CoinGlass.
Arkham also pointed out the increasing momentum behind Ether exchange-traded funds (ETFs). According to their analysis, “ETFs yesterday had total flows of $461M for ETH but only $404M for BTC.”
Data from Farside indicates that over the preceding five trading days, US-based spot Ether ETFs experienced net inflows of $326.6 million, while Bitcoin ETFs saw $253.2 million in net inflows. See the complete Ether ETF flow data at Farside.
Buterin First Achieved Crypto Billionaire Status at Age 27
Buterin initially entered the ranks of crypto billionaires in May 2021 at the age of 27, coinciding with Ether’s price exceeding $3,000 for the first time.
At that time, he held approximately 333,500 ETH, which was valued at around $1.029 billion, based on on-chain data from Etherscan. This milestone followed a period of rapid growth for ETH, which had more than quadrupled in value from around $700 at the beginning of 2021.
Almost three years prior, in October 2018, Buterin disclosed that he had never held more than 0.9% of the total ETH supply and that his net worth had “never came close” to $1 billion.
Related: Ethereum Surpasses Solana in Capital Inflows: $4K Price Target in Sight
While many within the cryptocurrency industry attribute Ether’s recent price appreciation to the growth of Ether treasury companies, Buterin recently cautioned against this trend.
In a recent interview, Buterin stated, “If you woke me up three years from now and told me that treasuries led to the downfall of ETH, then, of course, my guess for why would basically be that somehow they turned it into an overleveraged game,” emphasizing the potential risks associated with improperly managed Ether treasuries.
Magazine: Buterin’s ETH Treasury Warning, Bitcoin $250K a ‘Maybe’: Hodler’s Digest, Aug. 3 – 9