1. How Did The Crypto Sweater Guys Become Iconic?

bitcoin and ethereum sweater guys meme

Just days after it was posted, the photo spread like wildfire across the crypto world. At the peak of the 2017 bull market, this quirky image came to symbolize everything about the euphoric rise and brutal fall that was to follow.

 - One wore a black and gold Bitcoin sweater with a bold ₿ logo.

 - The other sported a navy and blue Ethereum sweater with the iconic diamond symbol.

Unintentionally, the duo became a visual time capsule of the crypto mania — and the crash that followed in 2018.

2. The Photo That Went Viral and Defined a Cultural Moment

The image became a viral crypto meme, widely circulated across Reddit, Twitter, Telegram groups, and news articles. It was emblematic of the early crypto spirit: optimistic, youthful, and a little ridiculous.

It also came to represent the devastating crash that followed — when Bitcoin lost over 80% of its value during the infamous Great Crypto Crash of 2018.

3. Where Are the Sweater Guys Now?

 - The Bitcoin Sweater Guy

According to Decrypt:

“Eight years later, both men are still in the industry.”

The man wearing the Bitcoin sweater is now reportedly leading a decentralized derivatives exchange — playing a major role in the next generation of DeFi products and liquidity protocols.

  - The Ethereum Sweater Guy

The other, wearing the Ethereum sweater, is still involved in the crypto space as well. Although his exact role is undisclosed, he continues to contribute to blockchain-related projects and Web3 initiatives.

4. Hodlmoon – The Brand Behind the Viral Crypto Sweaters

The iconic sweaters were created by Hodlmoon, a crypto-themed fashion startup founded by Zac Cohen, who worked as a web developer for UglyChristmasSweater.com.

The brand exploded during the 2017 bull run:

 - Over 2,000 sweaters were sold in weeks.

 - The company earned more than $200,000 in a single holiday season.

 - Their designs featuring Bitcoin, Ethereum, and Litecoin logos went viral on Reddit and crypto forums.

Hodlmoon tapped perfectly into the niche of “ugly Christmas sweater” culture — and turned it into a crypto goldmine.

5. Why This Photo Became a Crypto Legend

This wasn’t just a funny holiday pic — it was a symbol of a movement:

 - Captured the HODL mentality of early crypto believers.

 - Perfectly illustrated the irrational exuberance of retail investors.

 - Became a meme template that still resonates in the community.

6. Conclusion: More Than a Meme – A Symbol of a Generation

While the real identities of the Bitcoin and Ethereum Sweater Guys were never made public, their legacy remains intact.

This photo is more than just a viral moment. It represents the passion, optimism, and chaos of early crypto culture — and the people who shaped it.