Last May, Vitalik Buterin became the world’s youngest billionaire at the age of 27. Of course, in large part because of his keen interest in investing. The creator of Ethereum (ETH) has made over $4 million from Dogecoin (DOGE) investments.
Last year, Buterin invested $25,000 in the cryptocurrency meme Dogecoin. Later, he made over $4 million in profit thanks to Elon Musk’s tweets.
Buterin commented that he was impressed with Dogecoin and bet impulsively, even aimlessly.
Quotes Entrepreneur, Buterin remembers thinking, ‘How can I explain to my mom that I invested $25,000 in DOGE?’ The only interesting thing about this cryptocurrency is its dog logo. But it certainly was one of the best investments in Dogecoin I’ve ever made, said the Ethereum co-founder.
With Dogecoin rising in price, Vitalic made $4.3 million after selling half of its tokens. This amount was donated to the non-profit organization GiveDirectly.
Vitalic Buterin’s Profitable ‘Musk Effect’
Of course, when it comes to making cryptocurrency purchases inspired by the famous ‘doge’ meme. A Shiba Inu dog also known as ‘Cheems’, Vitalik Buterin had no idea that another tycoon would increase his capitalization at the end of a tweet. We are talking about Elon Musk, who caused a nearly 800% increase in the price of Dogecoin in one day.
In this regard, Buterin said that Musk’s company will have to adopt ETH sooner or later. “Bitcoin is a blockchain for money, and Ethereum was created from the start as a general purpose blockchain,” he said.
Despite his optimism about the future of digital currencies, Vitalik Buterin has stated that he is aware that anything could become a bubble that would burst at any moment, if it had not already happened. Bear in mind that Bitcoin has lost about half of its value in the last two months, dragging the entire ‘crypto’ ecosystem with it.
Meanwhile, the 27-year-old billionaire will continue to have fun with his investment, which is expected to help add another few million to his already lucrative fortune.