do you guys want to know how much Vitalik Buterin, the CEO and co founder of the Ethereum network loves Dogecoin, and how much Dogecoin he personally owns and why he believes in Dogecoin.
The meme coin has already made many true believers, investors. Millionaires Vitalik Buterinis one of those millionaires. Well, you might be surprised and curious because Vitalik Buterin is already a millionaire.
But I’m talking about Doge millionaire.
Yes, you guys heard right. Vitalik Buterin, the CEO and co founder of the Ethereum network is also a Doge millionaire, and he owns an enormous bag of Doge. According to him, investing in Doge is one of the best decisions he made. Now, let’s talk about how much Dogecoin does Vitalik Buterin hold.
The Ethereum co founder of Vitalik Buterin in a podcast with Lex Friedman disclosed that he had purchased Dogecoin worth $25,000 in 2016 when Dogecoin was not as popular as it is today. Vitalik Buterin runs Dogecoin holding it’s quite surprising, investing such a huge amount of dollars in Dogecoin back in 2016, is certainly surprising.
That shows Vitalik Buterin and believes in Dogecoin However, during the interview with Lex Friedman, he admits that he was unsure about investing $25,000 in a small digital asset worth just a few cents back in 2016. But this year after Tesla and SpaceX CEO Elon Musk’s entry, things changed for Dogecoin and currently Dogecoin is one of the most popular cryptocurrencies after Bitcoin Vitalik Buterin also added he sold half of the Dogecoin holding and made $4.3 million dollars. However, he still holds $4.3 million worth of Dogecoin and won’t sell it in the future.
The co founder and CEO of Ethereum also mentioned that the sudden rise in price of Dogecoin in the last few months was so significant that many people know about Dogecoin, but they don’t know much about the Ethereum network. And that is quite surprising. After the metallic Dogecoin investment went public, everyone appreciated Vitalik Buterin and even some Dogecoin developers sent coins to vitalik as a positive gesture. According to those numbers, the Dogecoin developers gave Vitalik Buterin half of the coins they possessed.
However, vitalik didn’t like this act. And as a result, he burned some coins and donated others. vitalik also invited Dogecoin developers to collaborate with etherium to improve scalability. Now, let’s talk about can Vitalik Buterin and literally send Dogecoin to the moon? Well, in our opinion, the answer is yes, yes. vitalik can literally send the Dogecoin prize to the moon. Let’s talk about how we can do that. Well, vitalik butyrin is one of the smartest and most intelligent man in the whole crypto space. In our opinion. He was the one who introduced the smart contract support idea for the first time because of etherium smart contracts support. Now developers can build their defy tokens, NFT’s and cx and dx without any hard work. He literally changed the whole concept of the cryptocurrency market.
In our opinion, Vitalik Buterin is the only person who can really change the whole scenario for Dogecoin from a meme currency to a currency of Earth and currency of the whole crypto industry. Vitalik Buterin and the Ethereum network developers team is already working on to solve the scalability issue on etherium network. And they’re close to deploying the proof of stake mechanism on the Ethereum network to solve the scalability issue.
Now, you might be thinking about what really scalability is and why it’s important. Well, scalability is one of the three basic points of cryptocurrency in the cryptocurrency industry, each coin must adopt two out of three basic points or features. These three basic points are scalability, security, and decentralization. These three points are also known as blockchain trivia, the biggest hurdle of cryptocurrency at first popular cryptocurrencies, like etherium, Bitcoin and Dogecoin. Choose decentralization security and sacrifice on scalability, while on the other side currencies like XRP choose security and scalability while sacrificing on decentralization.
Now, a theory M is working on adopting all three features. The Ethereum network developers team is working hard to bring scalability to the Ethereum network, and solve the issue of high transaction fees and low transaction speed. They’re almost close to deploying this upgrade on the Ethereum network. While on the other side now, Dogecoin developers are also working on bringing scalability to the Dogecoin network and making it more efficient. As we just shared that etherium developers are already working on it.
Dodge coin and ethereum work together to share experiences
So with ethereum and Dogecoin collaboration ethereum developers will be able to share their experience, and help Dogecoin developers to bring more scalability to Dogecoin network. Not only this, there are also rumors that Dogecoin smart contracts are also coming. Well keep in mind that this is not going to happen for the next few months. If it’s true, because the main focus of Dogecoin developers for now is to bring scalability to the Dogecoin network. Everyone knows that ethereum supports smart contracts. So in this regard, ethereum developers also can help Dogecoin developers to bring smart contracts support on Dogecoin network. So from the facts we share and according to our opinion, and research vitalik butyrin can play an important role in dogecoins long term future. Now, you must be thinking that does such upgrades will positively impact the price of Dogecoin. Everyone insists on something especially in cryptocurrency for gains? Well, yes, such upgrades can impact the price of Dogecoin and even can send Dogecoin price literally to the moon. The secret of a theory in popularity and why ethereum is successful and dominating the market. All is because of its unique feature that is it smart contracts support. So with Dogecoin developers somehow are able to introduce a smart contract support on the Dogecoin network.
Dogecoin smart contracts are coming
It will be a turning point for Dogecoin. Believe it or not, if Dogecoin developers today just announced that Dogecoin smart contracts are coming. We are pretty sure Dogecoin will break out its recent all time high price within the week of announcement and even can go beyond our expectations. As far as the question of scalability upgrade. I think for the long term Dogecoin future, this upgrade is necessary. Ilan Musk is also interested in such upgrades and working with developers to improve transaction speed and make the network more efficient. Well, if Ilan musk and Doge community want to make it the currency of Earth, this scalability upgrade is a must. In short, without scalability, it’s almost impossible for Dogecoin to become a currency of Earth.
Now, let’s talk about if Dogecoin becomes the currency of Earth, how much Dogecoin worth will be?
Well, according to our expectation with scalability improvement Doge has the potential to cross at least $10 because for Doge to cross $10, around $7 trillion market cap is needed. We all know fiat currencies have an unlimited supply and even the dollars also have unlimited supply. According to a recent report, the US government spends $6 trillion for COVID-19 aid. So achieving a $7 trillion market cap isn’t a big deal. If in true meaning people around the globe start using Dogecoin as currency for purchasing goods and services instead of fiat currency that’s possible. Well, keep in mind that no government wants to lose control. So taking over the world financial system for Dogecoin is quite challenging, but not impossible. Big things take time. So hold at least a few Dogecoin to be part of a better future. Not today, not tomorrow, but Doge will someday cross $10 for sure.