13 Years of Holding Bitcoin Made Him a Millionaire
Bitcoin has at times proven to be a lucrative long term investment vehicle. Looking at it's low value of $0.04865 in the year 2010, Bitcoin is up 60,664,430% and it is said that early investors and miners have been the biggest gainers of this exponential growth.
With that being said, CEO and the Co Founder of CryptoQuant, Ki Young Ju, shared on Twitter how a miner made millions by holding Bitcoin for more than a decade.
According to on-chain data, the miner mined 150 Bitcoin valued at $0.13. He after holding these Bitcoins for thirteen years, sold them for dollars 6.5 million. Well, that's not a small amount. This is a profit of more than 5 billion percent. Lol, how come? But yeah, that's right. Imagine someone getting a profit of 5 billion percent holding an asset. I don't think any asset would have been able to do this.
I don't know but I guess he deserved this as he put his trust in Bitcoin in time where there might not much people interested or aware of the coin. He could have sold it in time when it's prices crossed a 100 dollars but yet again the probably wanted to hold it.
Yes, there were times when Bitcoin had it's all time high of $68,789.63. I don't know if he might have sold some at that price or wanted to wait more. But yeah, it ain't bad as well selling it with the profit of 5 billion percent holding if for 13 years.
And probably this is not the single individual to have made millions with Bitcoin, there might be other people as well who might have made millions as well with Bitcoin. But one thing is to remember and that is, not everyone have made profits of Bitcoin, there might also be people losing their money investing in Bitcoin. So, its important to do your due diligence before taking an investment decision. Don't invest more than what you can afford to lose.
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Great story! Just Hodl on. 💎🙌🏻
If someone that early Held on to this high risk asset the profit he/she made is well deserved.
Yes Thanks
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what an amazing story. She had seen well what the future would be. Thanks for sharing this story
That's interesting to invest as much as you can loose, but for me I will say that you don't fold you hand in the name of fear to loose out but I think is idea for any Investor, Business man or any one who have sense of trading will not allow any opportunity of Business to slip off his hand, I understand you have to try as much you can afford whether you loose or not, is part of the game but is certain that one at of all will change the your story, as Bitcoin did for some people.
Yes
The story is a beautiful experience. Heard a story where the person lost his own wallet transaction pin . Congratulations to him
I see