Early cryptocurrency adopter, co-founder of Ethereum (CRYPTO: ETH) and creator of Cardano (CRYPTO: ADA) Charles Hoskinson said that he’s now a billionaire.
What Happened: In a video released on Thursday, Hoskinson said that he first became a billionaire during the 2017 crypto bull market.
“It took me three years from when I started my first cryptocurrency company to become a millionaire, and I was first a billionaire in 2017. Very, very briefly. Markets collapsed, and everything went to hell, but I was doing okay. And then [I] became a billionaire again in 2021,” he said.
Why It Matters: According to a statement released in late 2017 by Hoskinson’s blockchain development firm IOHK, the firm and he himself received both Bitcoin (CRYPTO: BTC) and Cardano for its work.
The computer scientist’s ADA compensation was only unlocked in June 2019.
See also: Ethereum Creator Vitalik Buterin Becomes A Billionaire As ETH Hits Another All-Time High Of $3,200
Hoskinson also reminded those who were surprised by the recent volatility in the crypto market that this is simply what is expected from a nascent and rapidly evolving market.
“Welcome to crypto. That’s how crypto works. It goes way up, it goes way down. You guys can’t get 900% gains without expecting some pullbacks,” Hoskinson added.
Image: Charles Hoskinson iohk.io via Wikipedia
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