In Lex Fridman’s podcast, Ethereum creator Vitalik Buterin revealed that he invested $ 25,000 in Dogecoin in 2016 and eventually earned $ 4.3 million, which he spent on charity.
In the beginning, people didn’t take Dogecoin very seriously. I just remembered thinking to myself, “how am I going to explain to my mom that I just invested $ 25,000 in Dogecoin?” The only interesting thing about this coin is the dog logo. But of course it was one of the best investments I have ever made.
Vitalik Buterin stated that Dogecoin “really did succeed” in the following years, he was caught off guard by the speculative madness caused by Elon Musk’s fascination with this cryptocurrency.
At the end of 2020, Elon Musk started talking about Dogecoin and the market cap rose to $ 50 billion. Then the Dogecoin price jumped 775% from $ 0.008 to $ 0.07 in one day. I immediately sold half of my savings and received $ 4.3 million, donated profits to GiveDirectly. A few hours after I did this, the price dropped from $ 0.07 to $ 0.04.
Then Buterin said that he felt like a “great trader” until, “of course, the price rose again to $ 0.07, and then to $ 0.50.”
If we consider that Buterin still left half of Dogecoin, then these coins are currently worth about $ 20 million.