Reddit User Finds 127 Old Bitcoins at Grandpa’s House – Pockets Over $4 Million After Selling

A Reddit user says he (or she) recently regained access to the keys of 127 bitcoins eight years after the coins were last accessed. Immediately after regaining access, the user sold all of the bitcoins and pocketed over $ 4 million in the process. According to the user, they received the bitcoins as payment for taking surveys and doing some random online tasks.

Bitcoin key in the old computer

The user originally intended to buy a valuable game currency called Uridium using the Bitcoins as a means of payment. The user, known by the name Bitcoinholderthanku, writes about their experience and explains how a visit to his grandparents’ house reunited him (or her) with the 127 bitcoins. In the post, the Reddit user begins their account by saying:

I played Dark Orbit with my grandpa and was there for about a week over the holidays. While I was there, I was over his old Dell computer that I was playing the game on and came across a TXT folder called “Keys”.

Even though the user claims they don’t remember why they didn’t buy the game currency in the end, they are still grateful for how things went. After holding the coins for eight years, the Reddit user sold them on Jan. 3 for just under $ 34,000 each.

Liquidation of the 127 BTC

In the meantime, the Reddit user’s first post caught interest and some users expressed doubts about the story. Others asked how the user managed to liquidate all 127 BTC when “even the largest exchanges have a limit well below $ 100,000 / day for trading BTC on their platform”.

In the follow-up post, the user explains that after weighing up the various liquidation options, he has decided to sell “the assets via an OTC main counter”. Next, the user explains this process:

I went back and forth between different companies and ended up selling all 127 bitcoins at a price of $ 33,439.02 per coin minus a 0.15% fee. The net was around $ 4.24 million.

To prove the story is real, as requested by some Redditors, the user shared a screenshot showing his checking account with a balance of $ 4.2 million on January 7th. However, the user says they had to “scribble the title of the transaction” because they wanted to reveal the identity of the company they were dealing with.

The user concludes that after 8 to 9 years he believes “Hodl (ing), which is more than the vast majority of crypto users”, “would not have sold all 127 bitcoins if he had been given a second chance” .

Between receiving the $ 4.2 million payment and the second Reddit post, the price of Bitcoin rose more than $ 7,000 to $ 41,000. However, at the time of writing, the crypto was down and trading at just over $ 35,000.

What do you think of this story? Let us know what you think in the comments section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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