Investor Cashes in $131.7M Profit by Holding Ethereum for Two Years
Key Takeaways An investor turned a $151.42 million Ether investment into a $131.72 million profit over two years; They have transferred 70,000 ETH and are still holding 26,639 ETH worth $68.81 million; The investor's patience paid off, demonstrating the value of long-term strategy during market fluctuations.
An investor has managed to turn a $151.42 million investment in Ether (ETH) into a $131.72 million profit over the course of two years.
According to blockchain sleuth Lookonchain , the investor made the purchase during a bear market on September 3 and 4, 2022, buying 96,639 ETH from Coinbase at a price of around $1,567 per coin.
Fast forward to 2024, and Ether's price had surged to $3,062. Since March, the investor has gradually transferred 70,000 ETH—roughly 72% of their original holdings—to the Kraken crypto exchange through several transactions. At the higher market price, this portion was valued at $214.34 million, resulting in a significant profit.
Despite transferring a large portion of their holdings, the investor still holds 26,639 ETH in their wallet from the initial buy, worth approximately $68.81 million at current prices.
This massive profit underscores the potential rewards of patient investing, especially during times of market volatility. The investor's strategy of holding onto their assets while others may have panicked allowed them to ride out the market fluctuations and realize significant gains.
In other news, in May, a separate trader turned $2,275 into $2.26 million within eight hours by investing in a memecoin . However, some X users raised suspicions, suggesting the trader may have been an insider.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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