Why Ethereum Creator Vitalik Buterin Sold 50% of His Bitcoin Holdings in 2013

On Monday (December 14), Vitalik Buterin, the Russian-Canadian programmer who created Ethereum, revealed why he had sold half of his BTC holdings seven years ago.

Back in December 2013, Bitcoin was trading around $800.

Anyway, earlier today, Vitalik offered some advice for anyone who is considering borrowing money to buy Ethereum or any other cryptoasset:

Of course, this is very sensible advice, and there are probably more than a few people outside the Bitcoin community who think that Nasdaq-listed MicroStrategy Inc. might also be behaving recklessly by recently issuing $650 million worth of debt securities (senior convertible notes) to buy even more Bitcoin.

Anyway, interestingly, a short time after Vitalik sent the above tweet, someone replied to him to say that for average people such a risk might be worth taking. Vitalik replied that he was far from rich back in 2013, when he had a net worth of only a few thousand dollars:

As for Ethereum, Crypto-focused behavior analytics startup Santiment reported today that on Saturday “the amount of new #Ethereum addresses hit a single-day, 35-month high.”

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