An early developer who worked with Satoshi Nakamoto in the development of Bitcoin had sold his holdings of 55,000 Bitcoin before 2012. He would have been a rich person now if he had not sold his BTC eight years ago.
Malmi Sold BTC Holdings for Studio
In his latest tweet, Martti Malmi revealed his selling of Bitcoin before 2012 and regrets the decision made at the time. Today, the worth of 55,000 Bitcoin is equal to approximately $1.2 billion. In order to purchase a studio, he decided to sell his 55,000 BTC, which is a great amount today. After selling his crypto holdings, he went to Japan to study Japanese and then continued his job as a developer. He tweeted:
“I’d be a *billionaire* now if I hadn’t sold the 55,000 bitcoins I mined on my laptop in 2009-2010 way too early (mostly before 2012). That is regretful, but then again, with the early bitcoiners we set in motion something greater than personal gain.”
If he managed to save that amount, he would be a Bitcoin billionaire, but he did not wait for a long time and sold his holdings to buy a small studio.
However, he also revealed that he continued putting his savings in Bitcoin, which is now a handsome amount. “Since then I’ve kept my varying amount of savings in Bitcoin. That’s not much, but still nice gains over the years,” he added. Malmi also expressed his satisfaction over the recent developments in the crypto space and send his well wished for Bitcoin.
To chase a thing bigger than yourself gives meaning to your life, said Malmi. He is greatly satisfied that he worked along with Nakamoto in the creation of Bitcoin that has created a revolution in the financial world.
The top digital asset has even challenged the most eldest hedge instrument gold, and a debate is going on which one out of Bitcoin and gold is better. Recently, giant US bank JP Morgan hinted that flagship digital asset would replace gold in the long run due to its enormous potential thanks to limited supply. But some investors have rejected this claim and claim gold is not going anywhere but will remain as a competitive hedge object to Bitcoin. For instance, multinational investment bank Goldman Sachs said both Bitcoin and gold can coexist together.