Ethereum Co-Founder Vitalik Buterin Affirms Personal Belief In ETH As Store Of Value, Says Holds '90% Of Net Worth' In It

Ethereum co-founder Vitalik Buterin has publicly affirmed his personal conviction in Ethereum ETH/USD as a store of value.

What Happened: This statement comes in response to ongoing discussions about the Ethereum team’s reluctance to promote ETH’s monetary aspects.

Buterin’s comment, “If I did not believe in ETH as SOV I would not hold ∼90% of my net worth in it,” was made in reply to observations by DCinvestor, a strategic advisor and private investor in the cryptocurrency space.

DCinvestor argued that despite Ethereum’s widespread use in DeFi and its significant total value locked (TVL), developers have been hesitant to publicly discuss ETH’s status as a store of value, possibly due to concerns about regulatory scrutiny.

He emphasized that for Ethereum to operate securely under its Proof of Stake (PoS) consensus mechanism, ETH must be perceived as a desirable store of value.

Buterin’s revelation provides a rare glimpse into his personal financial strategy and his confidence in Ethereum’s long-term value proposition.

The statement is particularly noteworthy given the Ethereum development team’s historical reticence to promote ETH as a store of value or programmable money.

Also Read: Bitcoin Drops 4%, Loses $60,000 Support As ETFs See $127M Outflow

This stance has been a point of discussion within the crypto community, with some speculating that it stems from regulatory concerns or a desire to focus on Ethereum’s technological aspects rather than its financial implications.

Buterin’s comment appears to bridge the gap between the public positioning of Ethereum and the personal convictions of its co-founder.

It suggests that while the core development team may not actively promote ETH’s monetary aspects, there is a strong belief in its value retention capabilities at the highest levels of the Ethereum ecosystem.

This development comes at a time when the cryptocurrency industry is grappling with evolving regulatory landscapes and shifting perceptions of digital assets.

As the industry continues to mature, the role of major cryptocurrencies as stores of value remains a critical topic of discussion.

What’s Next: The implications of Buterin’s statement are likely to be a significant point of discussion at the upcoming Benzinga Future of Digital Assets event on Nov. 19.

Read Next:

Image: Shutterstock