An investor who started accumulating the Ethereum network’s local token Ether (ETH) early on, announced that he decided to sell all of his assets. A 27-year-old Reddit user named “u / FollowMe22” said that he was selling ETHs he started accumulating in 2016. According to the Reddit post, it was just over $ 2 when it started buying in 2016.
“I saved a few hundred dollars as much as I could in 2016. I didn’t even buy a car. I went to work on a bike just to save money. I remember thinking it would be worth a third of a hundred times. So I think there was an asymmetrical risk / reward ratio.”
Redditor said it sold “a big chunk” of its Ether backlog during the 2017 bull run. However, he held the remaining ETH until January 2021.
The early Ether investor says he has an average profit of 14,900 percent from his long-term investment, on a cost basis. The 27-year-old early Ether investor says he is now financially independent and plans to buy a house for his family later this year.
Ethereum has increased by almost 60,000 percent in the last five years. It has crossed the $ 1,400 mark twice, in January 2018 and the last in January 2021. According to Fundstrat Global Advisors analyst David Grider, the ETH price can go up to $ 10,500.