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Buterin Warns Followers Not to Take Out Personal Loans to Buy Crypto
Ethereum founder Vitalik Buterin took to Twitter to warn his followers not to take personal loans to purchase cryptocurrencies.
Ethereum founder Vitalik Buterin took to Twitter to warn his followers not to take personal loans to purchase cryptocurrencies.
STORY CONTINUES BELOW
- On Monday, Buterin shared a post on Twitter warning followers not to take out personal loans to purchase cryptocurrencies in hopes they will be able to pay off the loan including interest as the cryptocurrency gradually appreciates in value over the years.
- “Please don't do things like this. I would NEVER recommend anyone take out a personal loan to buy ETH or other ethereum assets,” warned Buterin.
- Buterin added, “7 years ago, before ethereum even began, I had only a few thousand dollars of net worth. I nevertheless sold half my bitcoin to make sure that I would not be broke if BTC went to zero.”
- Since that time, the Russian-Canadian developer has come a long way. In 2018, Forbes estimated Buterin’s net worth to be around $400 million to $500 million in crypto.
Also read: Vitalik Buterin Sends $1.4M of Ether in Preparation for Ethereum 2.0 Staking
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
