A Redditor named “u/FollowMe22”, 27, says he has lastly bought off the final of his Ether (ETH) stash acquired again in 2016. In accordance with th
A Redditor named “u/FollowMe22”, 27, says he has lastly bought off the final of his Ether (ETH) stash acquired again in 2016. In accordance with the Reddit publish, he started shopping for ETH again in 2016 when the worth was barely above $2, including:
“I put my complete 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/three probability it could 100x, so there was an asymmetrical danger/reward in my view.”
The Redditor stated that he bought off a “massive chunk” of his Ether “cash” in the course of 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 publish 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 plenty of studying on the Ethereum subreddits, however earlier than signing up for Kraken I needed to get some suggestions from the buying and selling group 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 features on his value foundation. At 27, the early Ether purchaser says he’s now financially impartial and plans to purchase a home for his mother and father later within the yr.
Ether is up nearly 60,000% within the final 5 years and has twice crossed the $1,400 mark — in January 2018 and most just lately in January 2021. In accordance with Fundstrat International Advisors analyst, David Grider, ETH value might attain $10,500.
The publish 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 bought all his Bitcoin (BTC) to repay his mother and father’ mortgage. One other Redditor additionally liquidated MOON tokens earned on the platform to pay for hire.