V God: I persuaded the Ethereum Foundation to sell 100 million ETH, and it was basically at the "highest point"

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc), by kyle, published with permission.

Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)

Babbitt Information (ID: bitcoin8btc)

, by kyle, published with permission.

Vitalik Buterin, the co-founder of Ethereum, said that the Ethereum Foundation had previously sold 70,000 ETH, and it was basically sold at the "highest point."

Speaking on the podcast and Eric Weinstein, managing director of Thiel Capital, Buterin said:

“I did have the Ethereum Foundation sell 70,000 ETH, basically at the top, and now we’re doubling our assets, so it’s a good decision with a big impact.”

Ethereum reached a high of $1,400 in January 2018. So if they sold at that price, 70,000 ETH would be worth $100 million.

Buterin himself sold 30,000 ETH at the end of December 2017, worth $22 million at the time, basically at the top as well.

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 led to some speculation that they may have run out of fiat funds, but based on $20 million in annual payouts, they should be well funded.