The Ethereum exec was also affected by last week’s cryptocurrency dip that wreaked havoc on investors.
Following the recent market turmoil that plunged the prices of all digital currencies, Vitalik Buterin, the co-founder of the second-largest cryptocurrency Ethereum (ETH), has revealed that he is no longer a billionaire.
Buterin, 28, made the revelation on Twitter recently, saying: “I’m not a billionaire anymore.”
(btw btw I'm not a billionaire anymore)
— vitalik.eth (@VitalikButerin) May 20, 2022
Although he did not add any comment to the tweet, it is evident that the Ethereum developer and co-founder were also affected by last week’s dip that plunged the prices of all cryptocurrency assets, including Ethereum.
Buterin, who had a crypto portfolio worth $1.5 billion in November 2021 has seen the value of his investments plunge significantly, as the general crypto market has lost over 50% value since then. The estimated net worth of Vitalik Buterin is 355,000 ETH.
While Buterin has not made public his entire cryptocurrency portfolio, it is expected that the majority of his crypto holdings will be in Ethereum.
ETH Down Over 50% Since ATH
According to data on cryptocurrency aggregator platform Coingecko, Ethereum, which was trading at around $2,700 on May 7, fell to a low of $1,824 a few days later following the collapse of TerraForm Labs ecosystem tokens LUNA and UST.
Although things appear to have stabilized this week, the cryptocurrency market has yet to recover from the dip last week.
At press time, Ethereum is changing hands at around $1,973, down 59.5% from an all-time high of $4,878 recorded in November 2021.