Tuesday, July 27, 2021

Early Ether investor sells all his ETH, plans to buy parents a house

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A Redditor named “u/FollowMe22”, 27, says he has lastly offered off the final of his Ether (ETH) stash acquired again in 2016. In line with the Reddit submit, he started shopping for ETH again in 2016 when the worth was barely above $2, adding:

“I put my entire tax return in 2016 and threw a pair hundred at it at any time when I might. I did not purchase a automobile and biked to work to save cash. I keep in mind on the time considering there was a few 1/3 probability it might 100x, so there was an asymmetrical danger/reward for my part.”

The Redditor mentioned that he offered off a “massive chunk” of his Ether “cash” throughout the 2017 bull run. Nevertheless, he held on to the remaining ETH till January 2021.

One other Redditor on the thread unearthed the first-ever submit from the u/FollowMe22’s account detailing the latter’s preliminary intention to purchase and maintain ETH for the long-term, stating:

“I am trying to purchase about 250 ETH, however I am very new to the cryptocurrency world and never very technically savvy. I have been doing a whole lot of studying on the Ethereum subreddits, however earlier than signing up for Kraken I wished to get some suggestions from the buying and selling neighborhood as a result of there aren’t many posts particularly about shopping for ETH with USD… I do plan to carry ETH for long-term.”

In all, the early Ether investor says he realized a mean of 14,900% in long-term capital beneficial properties on his price foundation. At 27, the early Ether purchaser says he’s now financially unbiased and plans to purchase a home for his mother and father later within the 12 months.

Ether is up nearly 60,000% within the final 5 years and has twice crossed the $1,400 mark — in January 2018 and most recently in January 2021. In line with Fundstrat International Advisors analyst, David Grider, ETH price could reach $10,500.

The submit is the most recent to seem on Reddit detailing how investing in cryptos early on has helped individuals obtain monetary emancipation. Earlier in January, one other Redditor revealed that he had offered all his Bitcoin (BTC) to pay off his parents’ mortgage. One other Redditor additionally liquidated MOON tokens earned on the platform to pay for lease.