Any revelation in the cryptocurrency industry tends to create some shockwaves. Even if that revelation has to do with funds being sold many years ago.
Vitalik Buterin provided some interesting insights as to how the Ethereum Foundation managed its holdings.
Vitalik Buterin Sold During the 2017 Pump
During the crazy year 2017, the Foundation liquidated 70,000 Ether.Â
This was, in hindsight, a very smart business decision given the price per ETH at that time.
Interestingly enough, Vitalik Buterin is the one responsible for convincing the Foundation to take this course of action.
With $100 million in liquidity at that time, the future development of Ethereum seemed to be secured.Â
To make things more interesting, Vitalik Buterin sold 30,000 of his own holdings, netting him $22 million.
There will be some people who oppose these strategies, for obvious reasons.
Others will see the merit of liquidating assets during a crazy bull run.Â
In hindsight, many holders would have preferred to do so when they had the chance.Â
The main reason for selling the assets was the time frame.
There simply isn’t enough value to warrant such high values for most cryptocurrencies, according to Vitaik Buterin.
As such, the 2017 bull run was a once in a lifetime opportunity, at least for the foreseeable future.Â
Many people still hope for new all-time highs, yet it might not necessarily occur in the next few years.Â
The post Vitalik Buterin Convinced the Ethereum Foundation to Sell $100m o Ether in 2017 appeared first on The Merkle Hash.
