An anonymous investor turned US$ 1,000 into over US$ 1 million by investing in Binance's cryptocurrency. On-chain data shows that he bought BNB in 2017, 8 years ago, but never sold his coins.
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The BNB reached the mark of US$ 1,000 for the first time in history this Thursday.
(18) and today occupies the 5th position among the largest cryptocurrencies in the market, behind only Bitcoin, Ethereum, XRP, and USDT.
Who must have also profited from this rise is Changpeng Zhao, founder of Binance. Although he has not revealed numbers, the executive stated at the beginning of the year that 98.5% of his portfolio was in BNB.
Investor turns US$ 1,000 into US$ 1 million with BNB
Binance's cryptocurrency was launched by an ICO (Initial Coin Offering) for US$ 0.10. Shortly after, an investor bought 999 coins for about 1 dollar each and never moved his investment again.
Already this Thursday (18), with BNB surpassing the US$ 1,000 mark per unit, his fortune reached US$ 1 million.
“BNB just surpassed US$ 1,000 today! The ‘diamond hands’ 0x8503 spent less than US$ 1,000 to buy 999 BNB eight years ago when the price was only about US$ 1. Now, those 999 BNB are worth about US$ 1 million, a 1,000 times return.”
Investor turns US$ 1,000 into US$ 1 million by investing in BNB, Binance's cryptocurrency.
On-chain data from Arkham shows that the investment took time to take off, taking 4 years to reach the mark of US$ 50,000.
However, it reached US$ 660,000 during the 2021 bull cycle. Later, the coins fell to US$ 200,000; even in a roller coaster, the investor maintained his position.
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Diamond hands or lost wallet?
Since the investor has never made any exit transactions over the last 8 years, there is also the possibility that he is not a “diamond hands” person, but rather an unlucky one who lost access to his wallet.
Cases like this are not rare.
The most famous example is that of the British James Howells. During a cleanup in his office in 2013, he accidentally threw a hard drive in the trash.
The device contained a file that gave access to his 8,000 bitcoins mined in 2009. Although they were worth nothing at the time, today these coins are valued at US$ 925 million.
Already Rain Lõhmus, a banker from Estonia, bought US$ 75,000 in Ethereum in 2015 but lost access to his wallet. Today his investment is valued at US$ 1.1 billion.
Therefore, these cases serve as a lesson to keep a good backup of your private keys/seed phrases, even if today these coins are not worth that much.
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