Vitalik Buterin, Co-Founder of the Digital Currency Ethereum became the ‘Youngest Billionaire in the World’ last May. He made $4 million and that too from a $2500 investment which was only possible with the deep knowledge of investing. Ethereum creator recently revealed his profits during an interview with the Lex Fridman Podcast. He also mentioned that he gave all his profits from Dogecoin to charity.
As Buterin considered DOGE as the “fun coins”, he mentioned that he never had any goal in mind while buying the Dogecoins, but he just invested as he found the logo of the coin interesting.
“At the beginning, people didn’t take it very seriously […] I just remembered thinking to myself, ‘how am I going to explain to my mum that I just invested $25,000 into Dogecoin?’ […] like, the only interesting thing about this coin is a logo of a dog somewhere. But of course, that was one of the best investments I have ever made”, Buterin said.
The Ethereum creator also thanked Elon Musks for all his tweets around the Dogecoins. The musk effect worked like a magic for Buterin as he never expected the soar that the dogecoin experienced in a single day because of the tweets of Elon Musk. Tesla CEO influences the market value of the cryptocurrencies with his tweets and Buterin agrees with this fact.“At the end of 2020, Elon Musk started talking about Dogecoin, and the market cap just shot up to $50 billion […] It shot up multiple times,” said Buterin.
Buterin also recalled the day when the market price of the dogecoin soared to 775% after Musk’s tweets on a single day and said,
“I immediately called up some of my friends and told them to drop everything and scramble, and I sold half of the DOGE, and I got $4.3 million, donated the profits to GiveDirectly, and a few hours after I did this, the price dropped back from around $0.07 to $0.04”. He also added that the only thought in his mind at that time was “Oh my god, my DOGE is worth, like, a lot!”
The young creator of Ethereum appeared to be optimistic about the future of cryptocurrency in the world throughout the interview. Notably, Buterin holds approximately $20 million worth of Dogecoins in this net worth.