The rocketing growth of ether made the 27-year-old a billionaire

There is no doubt that Buterin was in the right place at the right time. The etherea concept was introduced by a young man in 2013 together with Gavin Wood. Bitcoin had existed for several years at the time, but few believed in any great success of cryptocurrencies.

At a time when virtual coins were of very negligible value, the young man bought hundreds of thousands of units of etherea. He currently owns 333,000 of them, which, given the record rate, represents a total of more than one billion dollars (21.5 billion CZK).

Vitalik Buterin in the archive picture from 2018.

Photo: Profimedia.cz

The rise in the price of etherea has recently become even more interesting than in the case of bitcoin, as it has only doubled since the beginning. Of course, in absolute numbers, bitcoin leads, which is currently trading for $ 56,273 (CZK 1,210,830).

On the other hand, ethereum has strengthened more than four times since the beginning of the year. One virtual coin is currently trading for $ 3434 (CZK 73,890), while at the beginning of the year it was only $ 741 (CZK 15,940), a year earlier it was even only $ 118 (CZK 2,540).

Ethereum is a cryptocurrency that, like bitcoin, is based on a decentralized database – the so-called blockchain. Thanks to this, it is protected against unauthorized interference from the outside and inside. The unmanageable operation of the network is ensured by so-called smart contracts, which are backed by the decentralized virtual machine Ethereum Virtual Machine (EVM).

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