Co-founder of Ethereum and top crypto voice Vitalik Buterin moved over $2 million worth of Ethereum to a multi-sig wallet in a move speculated to be driven by philanthropic motives.
Vitalik transferred 800 ETH worth ($2.01) million to a multi-sig wallet which shortly after the transfer swapped 190 ETH for 477,000 USDC.
Lookonchain, an onchain analytics resource picked up the transaction and shared details of it with its X community.
“Vitalik.eth(@VitalikButerin) transferred 800 $ETH ($2.01M) to a multisig wallet again 40 minutes ago. The multisig wallet swapped 190 $ETH for 477K $USDC later.
On Aug 9, #Vitalik also transferred 3,000 $ETH($8.04M) to this multisig wallet.” Lookonchain tweeted
The 800 ETH transfer by Vitalik Buterin is not the first bulk transfer he is making this month. On Aug 9 he transferred 3,000 ETH, valued at $8.04 million, to the same multisig wallet.
On June 12, 2023, Buterin transferred 1,000 ETH ($1.85 million) to a different multisig wallet, and in April 2023, Buterin moved 2,500 ETH ($4.6 million) to a cold storage wallet.
These transactions by Buterin suggest that he might be consolidating or reallocating funds for strategic or security reasons. There are also speculations of Philanthropic activity which Vitalik has engaged in many times in the past.
In October 2023, Vitalik Buterin revealed on Warpcast a decentralized social platform that he has not sold his Ethereum for personal gain in five years.
Rather he is in the habit of using his ETH holdings to support communities, causes, and non-profit organizations.
Vitalik Buterin’s Networth
According to Arkham Intelligence Vitalik Buterin’s net worth is estimated to be at least $552.86 million as of January 2024.
Most of Buterin’s known crypto net worth is in the ETH token, meaning it is highly dependent on ETH’s fluctuating price.
Buterin’s non-ETH holdings include his investments in various crypto companies including StarkNet, as well as a handful of other tokens like KNC & WETH.
Buterin’s estimated net worth ranks relatively highly compared to the other Ethereum Co-founders & other early ETH holders.
What to Know
Vitalik Buterin is well known for being the co-founder of Ethereum from which he generated most of his known wealth. He started working in crypto in 2011 at age 17, founding Bitcoin Magazine with Mihai Alisie (who later became one of Ethereum’s co-founders).
Alongside his Bitcoin publication Vitalik Buterin and Alisie also worked on Egora, a decentralized eBay for Bitcoin.
Many pundits believe that Vitalik Buterin’s $552 million official networth is not really what he is worth with speculations placing his networth to be as high as $1 billion.
