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Bitcoin crypto trader Borges Artonio

This Bitcoin Holder Mined 150 BTC In 2009, Here’s How Much It Was Sold For

Scott Matherson
by Scott Matherson
2 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Back in 2009, Bitcoin was still largely unknown as Satoshi Nakamoto had only released the Bitcoin whitepaper the year before in October 2008, and crypto enthusiasts were still figuring out how to mine and trade these new digital coins. 

However, some early adopters were lucky to get in on the innovation very early. An example of this was an individual who mined 150 BTC when they were valued at just $0.13. This was back when mining wasn’t that tough and you could mine for BTC on an old beat-up computer. 

HODLing Bitcoin For Over A Decade

Bitcoin was practically worthless in its early days. Early adopters were mostly mining BTC just for fun, with only a few of them accepting it as a payment method. However, Bitcoin’s growth over the years led to the creation of a new industry that saw massive growth spikes in the decade after. 

Related Reading: Ripple vs SEC Fight Heats Up As Legal Exec Says The Regulator Can’t File An Appeal Yet

For the holder in this report, after more than a decade of HODLing, their patience and belief in Bitcoin paid off. On-chain data shows that when the 150 BTC were mined, their total value was just $19.50.

However, the owner of those 150 BTC held on for over a decade before finally deciding to cash in. 13 years later, they ended up selling them for a staggering $6.5 million in 2022 at $43,502 per coin, representing a 5 billion percent increase in price.

btc minerMiner sells 150 BTC after 13 years | Source: Ki Young Ju on X

 

Interestingly, they sold their coins during a period when Bitcoin had dipped from its all-time high of $68,789 in November 2021. This means if they had sold at the top, they would have realized around $10 million for holding 150 BTC for 13 years.

At the time of writing, Bitcoin is currently trading at $29,468, around 30% below where the holder sold. So if they had held until now, their holdings would’ve declined to $4.5 million by now.

Early Adopters Of BTC

Early adopters are known for making the most profit from the crypto boom. This 5 billion percent profit from 150 BTC adds to a growing list of success stories from early investment and long-term holding. 

However, some of these early adopters have had their assets locked forever. A few other miners completely forgot about their early Bitcoin wallets, only to rediscover them years later, while some are lost forever.

Related Reading: A Win For Crypto: Lawyer Outlines Why Ripple Ruling Is Important

According to IntoTheBlock, 29% of the total Bitcoin supply hasn’t moved in over five years. Most of these are from early adopters and are presumed to be lost forever.

As the Bitcoin and crypto industry moves forward, it awaits the United States Securities and Exchange Commission’s (SEC) approval or rejection of Spot Bitcoin ETF filings by investment companies, as many believe this will trigger the next bull run.

Bitcoin (BTC) price chart from Tradingview.com

BTC price trading in the mid-$29,000s | Source: BTCUSD on Tradingview.com
Featured image from iStock, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Scott Matherson

Scott Matherson

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

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