‘I’d be a Millionaire Now’ – Regrets Early Bitcoiner Selling 50,000 Bitcoins Before 2012 ⋆ ZyCrypto

The price of bitcoin recently rose beyond $ 23,000 after effortlessly taking the $ 20,000 level of psychological importance. The recent rise means that MicroStrategy’s holdings have doubled in value since the business intelligence firm invested millions into the cryptocurrency back in September when the leading cryptocurrency was still hovering under $ 11,000.

But, not all large investors have made out as a bandit. In a series of tweets on Friday, early bitcoin investor Martti Malmi recently revealed that it had sold 50,000 bitcoins more than eight years ago and is basically missing out on over $ 1 billion in profit. Malmi, who is also a pioneer developer of bitcoin, dug the BTC on his personal laptop in the period 2009 to 2010 and sold it before 2012. At current prices, the same amount would be worth $ 1.1 billion today.

However, Malmi did not divest her free mammoth BTC store. He quit his “boring” junior software developer job and moved to Japan for several months to study the Japanese language. While in Japan, he visited the office belonging to Mt. Gox crypto exchange way before it fell victim to the infamous hack.

Malmi sold over 10,000 BTC in 2011 when the exchange rate for the cryptocurrency reached the $ 15- $ 30 range and used the proceeds to buy a nice studio apartment in Helsinki at just 22 years old.

However, if he never sold his old bitcoin, he could have gotten so much more. The early bitcoin core developer regrets but believes that “with the early Bitcoiners we’re setting something more than personal gains.”

I would be a * billionaire * now if I hadn’t sold the 55,000 bitcoins I dug on my laptop in 2009-2010 too early (mostly before 2012). That is regrettable, but then again, with the early bitcoiners we set out to be something more than personal profit.

– Martti Malmi (@marttimalmi) December 18, 2020

In October 2011, he offered the 1000 BTC prize to anyone who would get big business to receive bitcoin. This bounty was not claimed and then HODL determined the remainder of its bitcoin holdings. Unfortunately, he was forced to sell most of his BTC at a painfully low rate of $ 5 a piece in 2012 as he hunted for a new job.

Despite failing to access ten figures worth of profit, Malmi still holds some of its savings in bitcoin to date. “That’s not much, but still nice returns over the years. Happy for the recent development, ”he added.

Malmi has learned that while money is important, “you do not need to be rich to live a perfectly good life” as it is about the basics. More importantly, he is happy about his greater contribution to the bitcoin space. “You don’t live forever. Pursuing something bigger than yourself brings meaning to life, ”he summed up.