In a recent interview, Ethereum co-founder and its frontman Vitalik Buterin shares his take on companies stacking ETH on their balance sheets.
Notably, his opinion on this is radically different from what he said about Bitcoin treasury companies last year, as noticed by Bitcoin influencer Pierre Rochard.
Vitalik warms up to ETH treasury companies
Having noticed that stark change in Buterin’s opinion, Rochard published screenshots of what Vitalik tweeted about Bitcoin treasury companies in 2024 and a screenshot of his recent interview, where he spoke quite positively about companies that are stacking ETH as their treasury asset.
In a tweet published on October 22 last year, Buterin criticized Michael Saylor and his Bitcoin stacking strategy. Rochard summarized it in one sentence: “not what crypto is about.”
Vitalik on bitcoin treasury companies: “not what crypto is about”Vitalik on Ethereum treasury companies: “good and valuable” pic.twitter.com/RhntscVudG
— Pierre Rochard (@BitcoinPierre) August 8, 2025
As for the recent statement, Vitalik has spoken positively about ETH treasury companies. The A account @BanklessHQ published a short extract from a recent Bankless talk with Buterin, where he spoke about that. On the one hand, the Ethereum creator praised that approach in corporate investment in Ethereum: ““ETH just being an asset that companies can have as part of their treasury is good and valuable… giving people more options is good.”
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On the other hand, he made a warning against stacking too much ETH to prevent treasuries from making the ETH price collapse because the asset became overleveraged.
Are ETH Treasuries good for Ethereum?@VitalikButerin thinks they can be:“ETH just being an asset that companies can have as part of their treasury is good and valuable… giving people more options is good.”But he also issues a warning:“If you woke me up 3 years from now… pic.twitter.com/W55oUD7Lke
— Bankless (@BanklessHQ) August 7, 2025
He did not mention Saylor or any Bitcoin treasury companies this time, though. A commentator wondered if last year's tweet was Vitalik’s response to Saylor, who stated that all cryptos other than Bitcoin should be regulated as company stock. Rochard criticized this X user for having “zero reading comprehension.”
