Ethereum co-founder becomes world's youngest billionaire

Vitalik Buterin, 27, took this title after the rise of Ether.

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Entrepreneur Staff
2 min read
This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Cryptocurrencies are the thing of today. Vitalik Buterin , 27-year-old co-founder of Ethereum , became the youngest crypto billionaire in the world after the electronic currency surpassed three thousand dollars on Monday, May 3.

Ethereum hit an all-time high on Monday, surpassing the $ 3,000 mark and outperforming Bitcoin's year-to-date gains, according to Reuters .

Electronic currency has increased by 325% since the beginning of this year 2021 and currently has a capitalization of 376 billion dollars while Bitcoin has only increased by 95 percent.

Image: @VitalikButerin via Twitter.

The rise of this cryptocurrency has been due to the growing popularity of decentralized finance applications (DeFi). Decentralized finance is a system where financial products can be accessed on a decentralized public blockchain network, making it easy for people to transact without going through banks or brokerages.

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