Ethereum co-founder Vitalik Buterin has been actively engaging with the crypto community on social media, offering financial advice that has not been well-received by Ethereum investors. On January 7, Buterin responded to a post about billionaires Bill Gates and Warren Buffett, criticizing the advice given and offering his own financial insights.
The post that caught Buterin’s attention was by a user named ‘alex_avoigt’, who claimed that Bill Gates began diversifying his portfolio after meeting Warren Buffet. Buterin responded by advocating for diversification and savings. He advised people to have enough savings to cover multiple years of expenses, stating that “Financial safety is freedom.”
Buterin also suggested being “boring with most of your portfolio,” implying a preference for low-risk investments, which contradicts the high-risk nature of crypto investments. He further advised against using more than 2 times leverage.
However, his advice was met with criticism from the crypto community. A crypto investor named ‘CoinMamba’ argued that Buterin’s advice is only applicable to those who are already millionaires. Questions were also raised about whether Buterin was still selling Ethereum, with some stating that his advice did not sound bullish. A commodities and futures trader named ‘Googly’ expressed frustration with Ethereum’s recent price performance, stating that he had over-invested in Ethereum.
Buterin’s comments came at a time when Ethereum’s price has been declining. The price of Ethereum has fallen 2.4% on the day to $2,196 and has dropped almost 10% since its 2024 high of $2,434 on January 2. While Bitcoin remains in a consolidation phase, Ethereum and other altcoins are experiencing a downturn. Ethereum has been slow to react during recent rallies, with alternative layer-1 tokens such as Solana and Avalanche surging ahead.
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This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | |
| Sentiment | negative |
| Relevance Score | 1 |
| People | Warren Buffett, Vitalik Buterin, alex_avoigt, CoinMamba, Bill Gates |
| Companies | VanEck, Tether, BeInCrypto, Microsoft, Autism Capital |
| Currencies | Tether, Solana, Avalanche, Bitcoin, Ethereum |
| Securities | None |
