Recent industry reports indicate that Vitalik Buterin has rejoined the ranks of crypto billionaires. His on-chain assets are valued at $1.04 billion after Ethereum surpassed the $4,000 mark.
Buterin's Return to Billionaire Club
Vitalik Buterin first entered the billionaire club in May 2021 when ETH hit $3,000, and his holdings (333,500 ETH) were worth around $1.029 billion. He noted at the time that he had never controlled more than 0.9% of Ethereum's total supply and that his net worth had "never been close" to $1 billion before.
Ethereum Price Rally and Market Momentum
Ethereum increased by 6% on Saturday, reaching $4,332, and then settled at $4,244. As of the time of writing, $ETH trades at $4,301, up 1.8% in 24 hours. Traders are now openly expecting a retest of the November 2021 all-time high of $4,878. An analyst known as 'Ted' states it's 'just days away'.
Increasing Institutional Investments in ETH
According to the latest data, institutional investments in Ether ETFs have surpassed those in Bitcoin ETFs in recent inflows. On one Friday, ETH ETFs saw $461 million in inflows compared to $404 million for BTC ETFs. Over the last five trading days, reports indicate net inflows of $326.6 million for US spot ETH ETFs compared to $253.2 million for Bitcoin ETFs, signifying a growing interest in ETH as an institutional asset.
Vitalik Buterin's return to billionaire status alongside Ethereum's rise above $4,000 injects fresh momentum and raises questions about the longevity of this trend. Analysts are monitoring the $4,500 resistance level and ETF inflows as catalysts for further upside.
