A Life Lesson on HODL – The stories of early adopters of Bitcoin (BTC) don’t always end as well as those of the Taihuttu family or the Japanese restaurateur we’ve seen in recent weeks.
In this case, one of the early Bitcoin fans and miner sold off what would now be a real fortune.
5,050 BTC for… 5 dollars!
Martti Malmi, also known as Sirius, was a Bitcoin Legacy review developer from the early years of this young decentralized network created by Satoshi Nakamoto.
On his Twitter account (@marttimalmi), this early Bitcoin fan explains that he could have held the current equivalent of nearly $1.3 billion worth of BTC today… if only he hadn’t sold!
“I would be a billionaire now if I hadn’t sold the 55,000 Bitcoins I mined on my laptop between 2009 and 2010 much too soon (especially before 2012). It’s unfortunate, but with the first Bitcoiners, we set in motion something much bigger than our personal gains. »
It’s hard to believe in the current context where a single bitcoin is now worth more than $23,000, but Martti Malmi explains that he sold 5,050 BTCs for $5 in October 2009.
But Bitcoin has managed to change his life.
Don’t worry, Bitcoin did not make him a billionaire, but Bitcoin did allow his developer to afford some material goods, in addition to the moral reward of having contributed to building this incredible network.
When the BTC reached a “super” peak of between $15 and $30 per unit in 2011, Martti Malmi explains :
“In 2011, when the exchange rate peaked between 15 and 30 dollars, I sold more than 10,000 BTCs to buy a fairly comfortable studio near Helsinki. A great deal for a 22-year-old who never had much money. Probably the most expensive studio in the world right now, but at least I got more than two pizzas! »
Although it is easy to say today, with the ease of hindsight, that it would have been better to have waited, it is proof that Bitcoin had the strange power to turn lives upside down even then.
By the way, here is the philosophy of this genius developer:
“(…) 1) Money matters: more is always better than less. 2) But you don’t have to be rich to lead a perfect life. It’s all about basic needs. 3) You don’t live forever. Pursuing something greater than yourself gives meaning to life. Thanks to Satoshi and others who made Bitcoin what it is today. May it bring peace and prosperity to the world. Long live Bitcoin. »