The Creator Of Ethereum Was Unwittingly Gifted Half Of A Dog Meme Cryptocurrency. That Gift Is Now Worth $14 Billion

$1.4 billion

An image of the public wallet is shown below:

$16.3 billion…

Where does the additional $15 billion come from? This is a truly insane story that only makes sense in the completely bonkers crypto world.

According to a story first reported by the website decrypt.co, roughly $14 billion if Vitalik’s wealth came in the form of A GIFT. The founders of Shiba Inu, also known as “SHIB,” a dogecoin ripoff, gave him the gift.

The developers of SHIB published a white paper, or “woofpaper,” last month. In the woofpaper they revealed that they sent 50% of all SHIB, roughly 505 billion coins, to Vitalik’s wallet without his knowledge.

Why would they do this?

Sort of like, imagine if I gifted half of CelebrityNetWorth to Elon Musk and then within a few weeks CNW was one of the largest websites in the world thanks to the publicity. Actually kind of smart… huh.

505 billion SHIB were worth about $8.6 million at the time of the transfer according to its price of $0.000000017.

The price of SHIB has changed as follows over the past few weeks:

SHIB ranks as the world’s 12th-largest cryptocurrency when including Vitalik’s holdings.

Now of course it should be noted that Vitalik could destroy SHIB in an instant if he decided to offload the entire currency at once. Additionally, there is probably a very intentionally low quantity of SHIB that can be purchased, which is dramatically raising the price.

$14 billion

It appears as though a bunch of other stunt coins have begun gifting Vitalik huge shares of coins as well. I currently count dozens of haphazard coins in Vitalik’s wallet. Akita Inu is his third-largest holding, behind ether and SHIB. Vitalik currently owns AKITA worth $700 million. He also owns $265 million worth of Dogelon and $21 million of HuskyToken.

$16.3 billion

#105

(Photo by John Phillips/Getty Images for TechCrunch)

Who Is Vitalik Buterin?

In 1994, Vitalik Buterin was born in Russia. His family moved to Canada when he was six.

That same year, Vitalik dropped out of college to fully concentrate on Etheurem after receiving a $100,000 Thiel Fellowship grant. The currency had its public debut in July 2015.

(Photo by John Phillips/Getty Images for TechCrunch)

The market capitalization of Ethereum is $450 billion as of this writing. Only Bitcoin’s $1.1 trillion value is more. Since January, the price of Ethereum has increased 400%.

What is Ether All About?

The focus on digital contracts, which may have extremely beneficial real-world applications, is what makes Ether unique. For instance, when Bob Dylan sells his copyrights for $400 million in a conventional music catalog sale, the artist receives a sizable sum of money in exchange for giving up all future royalties from the work. An artist may choose to sell their catalog using an Ethereum-powered smart contract that includes a provision that lets them to receive money each time the catalog is sold again, forever.

Have you read about the digital artwork that Beeple, an artist, sold for $69 million? Every time that same piece of art is re-sold in the future, the blockchain will send part of the new purchase price back to Beeple.

True believers in Ethereum see the currency eventually being a crucial element any time someone buys a major asset, physical or not. A house, a car, a work of art, or even stocks are a few examples.

perhaps a webpage

***UPDATE***

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