Vitalik Buterin, the 27-year-old co-founder of Ethereum, has recaptured the title of world’s youngest crypto billionaire as a result of ether’s recent gains. According to Forbes, his entire net worth is $1.46 billion.
Buterin joined the three-comma club in early May, when Ethereum’s native token broke the $3,000 barrier for the first time. However, he lost his billionaire status when ether, along with the rest of the cryptocurrency market, fell to a low of $1,725.19 later that month after electric car manufacturer Tesla stopped accepting bitcoin as payment and Chinese regulators tightened their crackdown on cryptocurrency trading and mining activities.
Ether has been steadily rising since the market’s turnaround at the end of September, which was driven by the first bitcoin futures exchange-traded fund and a renewed surge of institutional adoption of digital assets, notably non-fungible tokens built mostly on top of Ethereum.
It has also profited from staking activity on Ethereum as part of its shift from the more energy-intensive proof of work approach employed by bitcoin to a full proof of stake model. A big August software change included in this roadmap adds deflationary pressure to the asset, increasing its scarcity.
According to crypto analytics firm Messari, the second largest cryptocurrency by market capitalization set a new all-time high of $4,644.01 this morning, however it is now trading lower, near $4,500. The 325,104 ETH in his wallets are currently worth around $1.46 billion at the current price.