Blockchain data shows that Ethereum blockchain co-founder Vitalik Buterin acquired more USD Coin (USDC) at the height of the panic surrounding stablecoin backing.
On March 11, the day USDC fell to a low of $0.88, Buterin acquired more stablecoins on five separate exchanges and not a single USDC token has left their wallets since then, according to data from Arkham Intelligence.
These transactions added to the Ethereum co-founder’s wallets a total of approximately 400,000 USDC at a deep discount. The first trade generated USDC 286,500 at 06:24 when market data indicates that USDC was at a 5% discount.
Buterin followed up with two transactions worth 28,700 USDC at 7:30 a.m. when the token was at a 7% discount. Other operations followed at 7:32 and 7:33 with the acquisition of a total of 85,166 USDC at a discount that could have been up to 12%.
The successful series of transactions apparently resonates with the philosophy of 18th century British nobleman and member of the Rothschild banking family, Baron Rothschild, who is often said said “The time to buy is when there is blood in the streets.”
The man in question made a fortune buying up assets wholesale in the panic that followed the Battle of Waterloo against Napoleon.
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As crypto.news recently reported, USDC lost its $1 peg to the USD, trading at a low of 81.5 cents on March 11. Meanwhile, trackers indicate that USDC issuer Circle has burned through $2.34 billion in the past day to meet the redemption surge. requests.
