An early Bitcoin (BTC) adopter is reaping a return of more than 50 million times his original investment after holding that bag of Bitcoin for 13 years.
On-chain analyst and CryptoQuant CEO Ki Young Ju recently drew attention to an overwhelming profit-taking run by an early Bitcoin (BTC) adopter over the past year. This investor made a profit of more than 50 million times his original BTC investment after 13 years of HODLing.
According to the disclosure, in 2009, the investor received 150 Bitcoin from Block Rewards. Notably, these tokens mined by the individual were worth $0.13 at the time.
Fun Fact: This person mined 150 #Bitcoins worth $0.13, held them for 13 years, and then sold them for $6.5 million, making a profit of 5,019,590,600%. pic.twitter.com/y1SJGAG6Yj
— Ki Young Ju (@ki_young_ju) August 9, 2023
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Interestingly, the investor kept these tokens despite the sharp fluctuations seen in the bitcoin market for over a decade. However, they decided to sell it last April BTC changed hands for $43,500.
An on-chain investigation conducted by The Crypto Basic backs up these claims. It is worth noting that the investor received the BTC tokens in three different wallets in November 2009.
The first transaction comprised 50 BTC and occurred on November 22, 2009 at 00:04 (UTC), during the second transaction saw an inflow of 50 BTC at 00:10 (UTC). The latest transaction also involved 50 BTC on the same day at 09:36 (UTC). All transactions came from block rewards.
A massive ROI of 5,019,590,600%
The three addresses have remained dormant over the years, only waking up in April 2022 when the investor drained their balances. At the time of the outflows, each 50 BTC was worth $2.175 million.
That number totals $6.525 million with 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 caught the attention of the wider crypto community. This underscores the huge potential of the crypto community for long-term investors weathering market turmoil. Besides BTC, Shiba Inu is another crypto asset that has done this made millions out of pennies.
However, investors should note that crypto investments also come with capital risks. Just as these investments could skyrocket at unimaginable rates, they could also collapse at unprecedented rates. At press time, BTC is trading at $29,620.
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Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may represent the personal opinion of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic accepts no liability for any financial losses.
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