Martti Malmi, an early bitcoin-dev, reveals he sold some bitcoin which would have worth $!.3b between 2009 and 2010. He reveals through a Twitter thread that he mined about 55,000 bitcoin between 2009 and 2010 when bitcoin’s price is almost zero.
He recounted how he ended up liquidating 5,050 bitcoin for a token of $5 before losing 30,000 bitcoin of the mined bitcoin in one of the first exchanges he runs.
I’d been a billionaire now if I hadn’t sold the 55,000 bitcoin I mined on my laptop in 2009 and 2010 too early ( mostly before 2012). that is regretful, but the gain with the early bitcoiners we set in motion something greater than personal gain.”
While sharing his loss, he acknowledged that he did not lose out completely as he now owns one of the best studios in the world situated in Helsinki he purchased with the money he sold 10,000 bitcoin in 2011.
According to Malmi,
“this hasn’t been as rough as it might first sound,” said Malmi. “it’s not like i ever had $1b and lost it overnight. besides bitcoin’s success, i was pretty darn happy about getting my own apartment at age 22.”
“perhaps owing to finnish culture, idealistic mentality and lack of life experience, i never thought much about making money. it happened accidentally as a byproduct of satoshi asking me to keep my node running so others could connect.”
Wait a minute!
Is your choice to be like Malmi, who lost over 30,000 bitcoin because of a security breach in an exchange?