How Long to Hold Bitcoin? This Miner Didn’t Sell for 13 Years and Profited Millions
Ki Young Ju – CEO of crypto data analysis platform CryptoQuant – revealed that a bitcoin miner who produced 150 BTC in 2009 (worth a mere $0.13 back then) sold his stash for an astonishing $6.5 million last year.
The total profit of the investment equals a whopping 5,000,000,000%.
- CryptoQuant’s boss took it to Twitter to disclose how a mysterious person became a multi-millionaire in 13 years by holding and later selling their bitcoin possession.
Fun Fact: This person mined 150 #Bitcoin valued at $0.13, held for 13 years, then sold for $6.5 million, yielding a 5,019,590,600% profit. pic.twitter.com/y1SJGAG6Yj
— Ki Young Ju (@ki_young_ju) August 9, 2023
- The individual entered the ecosystem in its early days, mining 150 BTC in November 2009, with the total stash equaling a mere $0.13 at the time.
- They patiently waited for the right moment (or forgot?) and parted with the holdings in April last year when bitcoin was worth over $43,000. The $6.5 million generated from the selling means they yielded a 5 billion% profit.
- It is worth mentioning that the investment could have brought even greater gains should the miner have sold the holdings during the bull run in 2021 when BTC spiked to an all-time high of almost $70,000.
- Some Twitter users, though, argued that the timing was more than appropriate considering the asset’s price decline in the following months. Calculated by current rates, the stash would equal around $4.4 million, whereas the value would have been less than $2.5 million at the end of 2022 (by the time of FTX’s collapse).
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