In early May, when Vitalik Buterin burned more than $ 6.7 billion in SHIB tokens, that number has now almost quintupled to $ 32.5 billion.

Previously, anonymous Shiba Inu developers marketed the project by sending 50% of the total SHIB supply to Vitalik Buterin’s wallet address to be removed from circulation.

The founders expect the SHIB price to rise as long as demand for it grows and supply remains limited.

At the time, Buterin held 505 trillion SHIBs worth about $ 8 billion in May when the information was released. Bitcoin magazine Report.

Instead of disappointing SHIB fans by selling them, Buterin kept them for a while.

What happened next?

At the end of May, Buterin donated the SHIB number he received to various charities around the world. For example, he gave SHIB 50 trillion (then about $ 1.2 billion at the time) to the Indian Covid-19 Relief Fund.

Five days after the community learned that part of the SHIB was donated to charity, Buterin continued to burn the remaining 90%. He sent 410 trillion SHIB (then $ 6.7 billion at the time) to a dead blockchain address and removed it from circulation.

Buterin has a. attached note into another transaction at the time, which makes it clear that he would like cryptocurrency makers to give them to charities:

“I don’t want to be that kind of person in power.”

Source: etherscan.io

At current prices, SHIB Buterin burned US $ 32.5 billion.

But the reality is, if Buterin still held it, Shiba Inu might not have hit its current high price tag. Furthermore, due to the sudden excess flooding the market, the price of the Shiba Inu would surely go down if he were to sell it.

follow Etherscan, Buterin still holds 3,457,471 SHIB valued at $ 268.

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Teacher

After decryption

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