Vitalik Buterin, co-founder of the Ethereum blockchain, has become the world’s youngest crypto billionaire, with the price of Ether (ETH), native cryptocurrency of Ethereum, surging past $3,300 level.
Ether’s prices slightly dropped after reaching a new all-time high of $3,446.93. At the time of writing, Ether is trading at $3,270.08, up 7.9% over the last 24 hours.
Vitalik Buterin’s Ether address, which he disclosed in October 2018 as his main Ether wallet, currently holds 333,520 ETH, worth $1.09 billion at the ether price of $3,270. Buterin, who spearheaded the launch of the Ethereum blockchain in 2015, has become the world’s youngest crypto billionaire at age 27.
Ether now has a total market capitalization of $378 billion, second only to Bitcoin’s $1.04 trillion. As the second largest crypto by market cap, Ether has recorded a 334% rise since the beginning of this year.
Ether extended gains to another record peak shortly after Berkshire Hathaway’s vice chairman Charlie Munger called the development of cryptocurrency, in particular Bitcoin, “disgusting and contrary to the interests of civilization.”
“I don’t welcome a currency that’s so useful to kidnappers and extortionists and so forth, nor do I like just shuffling out of your extra billions of billions of dollars to somebody who just invented a new financial product out of thin air,” said the 97-year-old legendary investor.
S&P Launches BTC and ETH Crypto Indexes
The crypto community hit back at the Berkshire Hathaway executives comments. Some responders treated Munger’s attack as a stereotypical elderly person’s lack of tech savvy. Others found it ironic that Munger criticized Bitcoin’s use in crime. Many of the financial giants in which Berkshire has invested have been fined by regulators.
2021 has been a headline-grabbing year for crypto, and the institutional interest in the market has been among the key drivers.
Lately, financial data giant S&P Dow Jones Indices launched its first three cryptocurrency indexes.
The crypto indexes carry ticker symbols SPBTC, SPETH and SPCMC – one for Bitcoin, Ether and a “MegaCap” combo of the two. The move comes as Bitcoin inches near the $60,000 level, and will further normalize Bitcoin and Ether data among Wall Street traders.
As another signal of crypto’s corporate mainstream acceptance, e-commerce giant eBay is looking at accepting crypto payments for its 187 million buyers.
The online marketplace is exploring the possibility of supporting NFT (non-fungible token) trading. “We’re looking at it and exploring opportunities for how we can enable it on EBay in an easy way,” said eBay CEO Jamie Iannone. EBay has been considering adding Bitcoin and other crypto as payment options to its platform since at least 2014.