This Chinese Bitcoiner Tells You What A Hodler
A Chinese bitcoiner, who persisted in hoarding bitcoin on a weekly basis amidst the crypto winter since 2015, has accumulated over 44 BTC by 2017 at the cost totaling $17,000 and kept these BTC intact throughout the next two dramatic years.
Starting from March 11 2015, the guy, with the name of “手中无比特” (literally “no bitcoin in hand”) on ChainNode (the earliest and largest bitcoin community in China formerly known as 8btc Forum), kept putting 1,000 yuan ($150) and later $200 into bitcoin every week. His weekly BTC purchasing plan, originally scheduled to last forever, came to an end in February 2017 when cryptocoin withdrawal was disabled in crypto exchanges within the country for regulatory issues.
The yield of his investment could have been over 50 times if sold in late 2017 when bitcoin price hit a record high (at almost $20,000). Calculated by the current bitcoin price, the ROI is still as high as 13 times. While he didn’t do that and left the forum in December 2017. According to his addresses, the BTC numbers in the addresses have seen no changes over these years.
- 1EkfiNffNHypzZij6vtVAsbDzcHEbNAaJU (25.3402 BTC, 53 transactions in 2015)
- 1FuGVCvCGQsQKmzm7h1XoSCF8A3ScjWdKn (17.7662 BTC, 52 transactions in 2016)
- 14bBUtaR5vqKELCZ5mhic5z8MG4tbH5qpR (1.4034 BTC, 7 transactions in 2017; recently transferred 0.748623 BTC in, so the balance is 2.152023 BTC at present)
The legendary story of the bitcoin hodler, posted on the forum, has been topping the most popular posts with over 100,000 views. It even inspires many to start regular investment in bitcoin.
As bitcoin gains momentum these days, more users saw the post and left comments below it. Among the recent replies, one is quite eye-catching, which shows his/her BTC purchasing record starting from April 1.
As of press time, bitcoin is trading at $5,025 per coin, increasing 1.46% over the past 24 hours. After Bitcoin enjoyed an explosive price spike, the market sentiment has obviously been ignited by the latest “bull run” with bitcoin transactions hitting one-year high these days.
Most crypto investors in China, who are exhausting over the prolonged crypto bear, are reportedly dumping their bitcoin for Chinese stocks which stages major rally since the start of this year. Many blockchain venture capitals make a similar decision as they believe the latest bitcoin rally seems to have few momentum support but is more like an April Fools’ joke, which may collapse soon.