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Ethereum co-founder Vitalik Buterin has recently increased his social media presence. In his latest post, he offered some financial advice, which was not well received by Ethereum investors. Responding to a post on January 7, Vitalik Buterin commented on a post about billionaires Bill Gates and Warren Buffett, calling the advice “terrible” and sharing his own “real financial advice” with users.
Vitalik Buterin’s Investment Advice
In the original post by user ‘alex_avoigt’, it was revealed that after meeting Warren Buffet, Bill Gates began diversifying his portfolio by selling some of his Microsoft shares. Vitalik drew attention to the part of the post advising caution about diversification and friends who recommend it.
Buterin expressed agreement not with the user but with Buffet, which caused strong reactions from Ethereum investors.
In his statement, Buterin mentioned that diversification is a good method but cautioned people about saving enough to cover several years of expenses.
Have enough savings to cover a few years of expenses. Financial security is freedom.
Moreover, Vitalik advised investors to fill most of their portfolios with “boring” investments, hinting at a preference for non-crypto, low-risk investments.
Lastly, Vitalik also advised against using more than double leverage, criticizing a method used by investors seeking quick gains.
Following Vitalik’s remarks, the crypto community erupted with responses. Crypto investor ‘CoinMamba’ started with a reply stating that the advice is good if you’re already a millionaire but not for those trying to get rich.
If you’re already a millionaire, it’s good advice. But not applicable for someone trying to become wealthy.
Tether and VanEck strategist Gabor Gurbacs asked Vitalik if he was still selling ETH, while another user commented that it didn’t sound like a bullish signal.
User Dark Crypto Lady pressed Vitalik about ETH sales, questioning why he and his friends continued to sell Ethereum.
Commodity and futures trader ‘Googly’ expressed dissatisfaction with ETH’s recent price performance, stating:
However, I can no longer accept this advice, I’ve invested too much in ETH. That’s the situation. I check the price every day and it’s underperforming.
Last week, Buterin provocatively posted that the worst thing about Ethereum is people losing money.
Ethereum Price Situation
Following the post, Ethereum’s price reacted with a 2.4% decline. ETH further dropped to $2,196 during Monday’s trading session with the opening of Asian markets. However, ETH recovered to $2,225, presenting a neutral outlook.
Moreover, as ETF expectations continue, Ethereum has sustained a decline of 10% since reaching its highest level of 2024 at $2,434 on January 2nd.
While Bitcoin progresses towards a significant rise following ETF news, Ethereum and other altcoins are experiencing a deepening decline. During the recent price increases, Ethereum lagged behind alternative Layer-1 tokens like Solana and Avalanche, appearing slow to respond.
