Vitalik Buterin: Persuading the Ethereum Foundation to sell $ 100 million ETH, and it is basically at the "highest point"
Ethereum co-founder Vitalik Buterin said that the Ethereum Foundation had previously sold 70,000 ETH, and that it was basically sold at "the highest point".
Buterin said in a speech to podcast and managing director of Thiel Capital, Eric Weinstein:
"I did let the Ethereum Foundation sell 70,000 ETH, basically all sold at the highest point, and now our assets have doubled, so this is a good decision with a big impact."
Ethereum reached a high of $ 1,400 in January 2018. So if they sell at this price, 70,000 ETH will be worth $ 100 million.
Buterin himself sold 30,000 ETH at the end of December 2017. At that time, it was worth $ 22 million, which was basically at the highest level.
The Ethereum Foundation appears to have sold another $ 1.5 million worth of ETH over the past three months, and they have also stopped funding certain development teams.
This has caused some speculation that they may have depleted fiat money, but based on an annual expenditure of $ 20 million, they should have a lot of money.
Therefore, the outside world has raised a question as to why they don't fund some developers, including some long-term coders. Some people think that this is more a policy decision, because the Ethereum Foundation wants everyone to get funding through grant applications. To avoid distinguishing between internal and external teams.
The interviewer asked Buterin's feelings about its net assets plummeting as prices fell.
He said he was reassured because he believes that cryptocurrencies have not created enough value of $ 500 billion.
The interviewer then asked if he was short the market. Buterin said he was not short, but he convinced the Ethereum Foundation to sell a lot of ETH. He did not mention that he sold a lot of coins before the plunge, and that some other industry celebrities like Litecoin founder Charlie Lee cleared positions before the market plummeted.
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