An early Bitcoin (BTC) adopter rakes in a profit of over 50 million times his initial investment after holding on to this Bitcoin bag for 13 years.
On-chain analyst and CryptoQuant Chief Ki Young Ju recently called attention to a mind-blowing profit-taking move executed by an early Bitcoin (BTC) adopter last year. This investor made a profit of over 50 million times his initial BTC investment after HODLing for 13 years.
The investor received 150 Bitcoin from block rewards in 2009, per the disclosure. Notably, these tokens, mined by the individual, were worth $0.13 at the time.
— Ki Young Ju (@ki_young_ju) August 9, 2023
Interestingly, the investor held onto these tokens despite the rapid fluctuations witnessed in the Bitcoin market for over a decade. However, they opted to sell them off last April when BTC changed hands at $43,500.
An on-chain investigation carried out by The Crypto Basic substantiates these claims. Notably, the investor received the BTC tokens in three different wallets in November 2009.
The first transaction involved 50 BTC and occurred on Nov. 22, 2009, at 00:04 (UTC), while the second transaction saw an inflow of 50 BTC at 00:10 (UTC). The last transaction also involved 50 BTC on the same day at 09:36 (UTC). All transactions came from block rewards.
A Massive 5,019,590,600% ROI
The three addresses remained dormant over the years, only awakening in April 2022 when the investor emptied their balances. At the time of the outflows, each 50 BTC was valued at $2.175 million.
This figure amounts to a total of $6.525 million made from an initial investment of $0.13. This represents a massive return on investment (ROI) of 5,019,590,600%, or 50 million times, in 13 years.
The disclosure has triggered the attention of the broader crypto community. It underscores the immense promise within the crypto community for long-term investors who persevere through market turbulence. Besides BTC, Shiba Inu is another crypto asset that has made millions out of pennies.
However, investors should note that crypto investments are also prone to capital risks. Just as these investments could skyrocket by unimaginable margins, so they could plummet at unprecedented scales. BTC is trading for $29,620 as of press time.