This early investor just sold his Ethereum stash he hodled for five years

Friday 22 January 2021, 6:44 AM AEST - 1 month ago

When stories of Bitcoin millionaires began to emerge alongside the assets rally, Ethers users also had a tale or two to share. An anonymous hodler who bought Ether, when it was trading at $2, is apparently fully out of the game. The trader who goes by the handle u/FollowMe22 on Reddit apparently sold Ether recently. The early investor claimed to have gained about 14,900% in long-term capital gains and intends to purchase a house.

The unknown hodler, who runs an e-commerce business, claimed to have started buying Ethereum in early 2016 after missing the boat on Bitcoin. The user earlier sold off a majority of Ether coins in 2017, when crypto markets were on a bullish course and added:

I put my whole tax return in in 2016 and threw a couple hundred at it whenever I could. I didnt buy a car and biked to work to save money. I remember at the time thinking there was about a 1/3 chance it [Ether] would 100x, so there was an asymmetrical risk/reward in my opinion.

According to another post on Reddit, the long time hodler was looking to buy about 250 ETH, initially and was concerned about being very new to the cryptocurrency world and not very technically savvy.

Ive been doing a lot of reading on the Ethereum subreddits, but before signing up for Kraken I wanted to get some feedback from the trading community because there arent many posts specifically about buying ETH with USD… I do plan to hold ETH for long-term.

As of now, the Redditor is interested in potentially getting back into crypto markets at some point

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Theres a lot I can do with the money in traditional markets that Im going to pursue.

I think the market is a bit overvalued currently. I would be interested at getting back in at some point, but if its in the next ...

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