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).
The post How Long to Hold Bitcoin? This Miner Didn’t Sell for 13 Years and Profited Millions appeared first on CryptoPotato.
