Early Ether investor sells all his ETH, plans to buy parents a house

A Redditor named “u / FollowMe22”, 27, says he has finally sold the last of the Ether (ETH) supplies he bought in 2016. According to the Reddit post, he started buying ETH in 2016 when the price was slightly above $ 2, adding:

“I filed my entire tax return in 2016 and threw a few hundred on it whenever I could. I didn’t buy a car and rode my bike to work to save money. I remember thinking at the time that there was a 1/3 chance that it would be 100x so there was an asymmetrical risk / reward in my opinion. “

The Redditor said he sold a “large chunk” of his Aethercoins during the 2017 bull run. However, he held the remaining ETH until January 2021.

Another Redditor on the thread spotted the very first post from u / FollowMe22’s account describing the u / FollowMe22’s original intent to buy and hold ETH for the long term.

“I want to buy around 250 ETH, but I’m very new to the world of cryptocurrency and not very tech-savvy. I’ve read a lot about the Ethereum subreddits, but before signing up for Kraken I wanted to get some feedback from the trading community as there aren’t many posts specifically about buying ETH with USD … that’s what I have to hold long term before ETH . “

Overall, the early Ether investor said it had a long-term capital gain averaging 14,900% on its cost basis. At 27, the early Ether buyer says he is now financially independent and plans to buy a home for his parents later in the year.

Ether has risen nearly 60,000% in the past five years, crossing the $ 1,400 mark twice – in January 2018 and most recently in January 2021. According to Fundstrat Global Advisors analyst David Grider, the ETH price could reach $ 10,500 .

The post is the latest on Reddit, detailing how investing in cryptos early on has helped people achieve financial emancipation. In early January, another Redditor announced that he had sold all of his Bitcoin (BTC) to repay his parents’ mortgage. Another Redditor also liquidated MOON tokens earned on the platform to pay the rent.