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Ethereum's 27-year-old creator is now a billionaire

May 4, 2021. Summarized by summa-bot.

Compression ratio: 48.7%. 1 min read.

Vitalik Buterin, co-founder of Ethereum Foundation and Bitcoin Magazine, speaks during the TechCrunch Disrupt 2017 in San Francisco, California, U.S., on Monday, Sept. 18, 2017. TechCrunch Disrupt, the world's leading authority in debuting revolutionary startups, gathers the brightest entrepreneurs, investors, hackers, and tech fans for on-stage interviews. Photographer: David Paul Morris/Bloomberg via Getty Images

Vitalik Buterin, a 27-year-old Russian-Canadian programmer, created ethereum in 2013 when he was 19. The cryptocurrency launched in 2015, and now Buterin holds about 333,500 ether in his public wallet. Multiply that by the $3,500 record high ether stood at on Tuesday, and you get more than $1.1 billion. Not bad.

New York (CNN Business)Vitalik Buterin, a 27-year-old Russian-Canadian programmer, created ethereum in 2013 when he was 19.

The cryptocurrency launched in 2015, and now Buterin holds about 333,500 ether in his public wallet.

The cryptocurrency is currently the second-largest digital currency by market value — a bit less than half the market capitalization of bitcoin (ARSC).

Although investors buy and sell thousands of different cryptocurrencies — including the Elon Musk tweet-fueled dogecoin — ether and bitcoin account for nearly two-thirds of the entire $2. 3 trillion global crypto market.

Cryptocurrency backers have spent years insisting that ethereum, bitcoin and other digital coins could revolutionize the world of finance, and with the success of Coinbase's Wall Street debut, those backers are finally having their moment.

Part of ethereum's surge can be credited to the fact that it is the cryptocurrency of choice for purchasing many non-fungible tokens or NFTs — digital artwork and other collectibles that are transformed into one-of-a-kind, verifiable assets that are easy to trade on the blockchain.

by summa-bot

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