Creator Ethereum Vitalik Buterin transferred 30,000 ETH or $ 22 million at the current exchange rate to one of the largest exchanges of cryptocurrency Bitstamp about 12 days ago, that is, just a few days before Charlie Lee announced that he was selling all his LTCs. Shortly after these events, the cryptocurrency rates fell by an average of 50%.
Buterin does not say whether he sold his assets or did otherwise, but his purse still holds 375,000 ETH or about $ 300 million.
Approximately at the same time, when these transfers were made, Buterin said the current market capitalization is too high, insisting that this value is undeserved.
“So, the total capitalization of the market today has reached $ 0.5T. But * did we deserve this? “- asked Buterin. “Of course, the answer is not zero, and in certain cases, the values can be quite impressive. But not to justify $ 0.5T. Not like that. “
In the fact that Vitalik Buterin decided to try himself as a trader, it’s hard to believe. Perhaps, he used this money in order to pay for certain services.
“I just paid 10 employees in ETH in a volume equivalent to today’s rate of USD, SGD and TWD on stock exchanges,” he wrote 2 days before the transfer.
On the other hand, he could simply diversify his portfolio, the more he himself claims that the current valuation of the currency in the market is too high.
Buterin sells its assets not for the first time. So, in April 2016, when Ethereum cost about $ 10, he sold about 25% of the then owned ETH, saying that the decision was caused by the desire to diversify.