Vitalik Buterin Rejoins Billionaire Ranks as Ethereum Soars Past $4K—Again
Ethereum co-founder Vitalik Buterin is back in the three-comma club—thanks to ETH's latest bull run.
The crypto pioneer's net worth surged as Ethereum blasted past $4,000 this week, proving even blockchain's brightest minds aren't immune to market whiplash. Remember when he donated $1B in SHIB to India's COVID relief fund? Peppridge Farm remembers.
Meanwhile, Wall Street analysts are still trying to explain why their 'ETH killer' altcoin picks keep underperforming. Maybe stick to index funds, guys.
Ether Surges to $4,332 After Breaking $4K Barrier
Ether extended its rally over the weekend, climbing another 6.38% on Saturday to hit $4,332 after reclaiming the $4,000 mark on Friday. At press time, ETH is trading at $4,244.
The price momentum has coincided with Bitcoin’s declining market dominance and renewed Optimism from traders.
Some, like crypto analyst Ted, believe a retest of the November 2021 all-time high of $4,878 is imminent, describing it as “just a matter of days now.”
I told you that the $ETH breakout is coming.
And it happened exactly as predicted.
Ethereum has smashed through its resistance and is now heading higher.
It feels like a new ATH is just a matter of days now. pic.twitter.com/XCxetoP0Ku
Market data indicates that a MOVE to $4,500 could trigger a significant short squeeze. CoinGlass estimates that around $1.35 billion worth of short positions could be liquidated if that level is reached.
Arkham also pointed to an emerging shift in ETF flows favoring Ether over Bitcoin. On Friday, ETH-focused ETFs recorded $461 million in total flows, outpacing Bitcoin ETFs at $404 million.
Over the last five trading sessions, US spot Ether ETFs have logged $326.6 million in net inflows, compared to $253.2 million for bitcoin ETFs, according to Farside data.
Buterin first entered the billionaire bracket in May 2021, when ETH crossed $3,000 for the first time.
At the time, he held roughly 333,500 ETH, worth about $1.029 billion, after the asset had quadrupled from $700 at the start of that year.
However, he disclosed in 2018 that he had never controlled more than 0.9% of the ETH supply and his net worth had “never came close” to $1 billion until that 2021 rally.
Buterin Warns Against Risks Behind ETH Treasury Boom
While ETH’s latest run has been bolstered by institutional inflows and corporate treasuries holding Ether, Buterin has voiced caution over the trend.
In a recent interview, he warned that excessive leverage within ETH treasuries could pose long-term risks.
“If you woke me up three years from now and told me that treasuries led to the downfall of ETH… my guess WOULD basically be that somehow they turned it into an overleveraged game,” he said.
Last week, BitMine Immersion Technologies, chaired by Fundstrat’s Tom Lee, added 208,137 ETH to its growing crypto reserves, boosting its total holdings to 833,137 ETH, now worth over $3 billion.
The move cements BitMine’s position as the top Ethereum-holding treasury firm and places it fourth among global crypto treasuries overall.
