Mysterious Investor Made BRL 2 Billion With Ethereum But Never Sold Coins

Hands holding multiple ethereum (ETH) coins.
Hands holding multiple ethereum (ETH) coins.

A wallet containing 250,000 ETH has caught the attention of the community this week. Acquired for approximately BRL 170,000 during the Ethereum ICO in 2014, the amount is today valued at BRL 2.14 billion, an appreciation of 1,258,723%.

Besides the billionaire’s profit, it is also surprising that ethers (ETH) have never moved since they fell into the wallet in July 2015, the launch date of the cryptocurrency created by Vitalik Buterin.

Among the hypotheses put forward by the community, some believe that the investor has died or is imprisoned. Others believe in a more cheerful story, in which such a whale has other wallets as thick as this one.

Ethereum has turned more investors into billionaires

According to the Ethereum pre-sale investor list, 4.64 million ethers (ETH) were sold in 2014. On that date, 1 bitcoin (BTC) bought 2,000 ETH, today this ratio is 1 in 14.25, showing that ethereum appreciated 14,035% against the largest cryptocurrency in the market.

The largest investor would have bought 1.57 million ETH, equivalent to R$13.5 billion today, but must have already thrown away his coins in one of Ethereum’s previous surges.

Thirty positions below this whale appear two anonymous investors who bought about 250,000 for just over 125 BTC, which at the time ranged between R$800 and R$1,500 each.

According to onchain data, one of them has never moved his coins since receiving them and is now the 25th largest holder of ETH in the market.

Investor bought 250,000 ETH during 2014 Ethereum ICO, but never moved his cryptocurrencies since receiving them Source: EtherScan.

With the value of the investment rising from BRL 170,000 to BRL 2.14 billion and no movement in the portfolio, many believe the worst could have happened to the investor.

“This person is probably dead or in prison”wrote one of them.

Another issue is that Ethereum migrated to Proof-of-Stake in September last year. That is, such an investor could earn dividends on his fortune. According to the Staking Rewards website, this would net you 900 ETH (R$7.7 million) per month, or 10,954 ETH (R$94 million) per year.

An ETH investor who never moved his cryptocurrencies could receive BRL 7.7 million per month if he were an Ethereum validator.  Source: Staking Rewards.
An ETH investor who never moved his cryptocurrencies could receive BRL 7.7 million per month if he were an Ethereum validator. Source: Staking Rewards.

Reddit founder reveals he invested in Ethereum ICO but shows regret

In all, nearly 1,500 investors were attracted to the Ethereum whitepaper in 2014. While the whales above bought up to 1.5 million ETH, some sardines bought just 20 ETH, which could be synonymous with regret.

In an interview with Forbes published last Tuesday (21), Alexis Ohanian, founder of Reddit, revealed to be one of these investors. If you buy 50,000 ETH for $15,000, your investment is now valued at $82 million.

“In hindsight, I didn’t invest as much as I should have”stated Ohanian, who regretted not buying more.

Ultimately, stories like these can be inspiring, but they’re also dangerous. After all, while some investors have profited a lot from cryptocurrencies such as Bitcoin, Ethereum, others have lost money on empty promises of thousands of other projects.

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Source: Live Coins