Marty Malmi, one of the early developers of Bitcoin, also known as Sirius, explained what happened to its previously big cryptocurrency carrier since 2009.
According to a Twitter thread on Friday from former Bitcoin (BTC) developer, Malmi mined around 55,000 coins between 2009 and 2010, when the price was close to zero. Malmy said that in October 2009 he ended up with 5,050 Bitcoin for $ 5 and lost 30,000 Bitcoins in one of the first bitcoin exchanges he managed when “there was no fixed exchange rate yet.”
“I had planned HODL for the rest of my BTC, but I had to sell most of it at a low price (around $ 5) in 2012 as it took me longer than expected to find a new job,” Malmy said. “Since then, I’ve kept my bitcoin savings. That’s not much, but it’s still a pretty good achievement over the years.”
However, perhaps the most significant investment from the Bitcoin developer from his early profits in cryptocurrency was when he sold 10,000 Bitcoins in 2011 to buy an apartment in Helsinki. “Maybe the most expensive studio in the world right now,” he said on Twitter.
With Bitcoin’s recent increase to $ 24,000, Malmi’s original assets of 55,000 BTC will now total over $ 1.3 billion. Regardless, the former developer says he “never seriously regretted”.
“It wasn’t as rude as it might seem,” Malmy said. “It’s not like I had a billion dollars and lost it overnight. Regardless of Bitcoin’s success, I was very happy to have my own flat of 22.”
“Maybe because of Finnish culture, idealistic mindset and lack of life experience, I never thought about making money. It happened by chance when Satoshi asked me to keep my contract work so that other people could connect.”
Malmi isn’t the only major cryptocurrency to liquidate its assets, apparently out of necessity. In October, David Schwartz revealed to Ripple’s CTO that he had sold 40,000 Ether (ETH) for $ 1 each as part of the risk management plan he and his wife put together in 2012. Tokens will now be worth more than $ 26 million after exceeding the final price. $ 600 a week.