A recent revelation on Reddit has taken the cryptocurrency world by storm. A Redditor found an ethereum wallet that hadn’t been touched since the 2014 ICO, containing over 250,000 ETH, now worth a staggering $410 million. Wallets have become one of the most mysterious and interesting addresses in the Ethereum ecosystem.
The owner of the wallet invested $75,000 in the ICO and has not made any transactions since. Amazingly, the wallet has been “hibernating” for the past nine years. The current value of the wallet has become a symbol of the great returns that crypto investments can bring.
Nine years of HODL: A Redditor stumbles upon #Ethereum Wallets worth $400 million come from #ICO era @azcoinnews https://t.co/3pmXDRVpRT
— Kyptos (@azcoinnews) February 27, 2023
Since the ICO in 2014, the Ethereum ecosystem has grown exponentially. ETH has rapidly increased in value and has become one of the most popular cryptocurrencies in the world. The owner of this wallet invested in ETH when it was still in its infancy. This investment delivered him or her a 533.70% ROI, a return almost unmatched by any other investment.
The question is why the owners of this wallet haven’t moved their ETH over the years. There are several potential reasons for this: the owner may have forgotten the root or lost access to the wallet. In this case, the owner will not be able to access the coins in the wallet, and the wallet remains intact until then.
Another possibility is that holders are patiently waiting for the value of ETH to rise further. The current price of ETH is around $1,600, and many analysts predict that it may reach $10,000 in the future. If this happens, the value of the wallet will increase even more.
The most unfortunate thing is that the owner of the wallet has passed away and no one knows the seed phrase. Regrettably, many cryptocurrency investors do not take proper steps to protect their investments. If this is the case, the wallet will be “dormant” forever and the funds will not be accessible to heirs.
The existence of this Ethereum wallet is a testament to the potentially “huge” returns that crypto investments can generate. The fact that the wallet has not been touched in 9 years is a mystery that adds to the allure of the crypto world. While there could be multiple reasons, the fact is that the owner of this wallet has a fortune that could change his/her life forever. This reminds us that patience is a virtue in the crypto world, and its rewards can be huge.
In a recent report by Kyptos, Reddit co-founder and executive chairman Alexis Ohanian revealed that he invested in the 2014 Ethereum pre-sale and now owns 50,000 ETH, growing the total value to nearly $82 million and earning a staggering $546,000 % of profit.
- This Man Turned $15,000 Into $82 Million In ETH For A 550,000% ROI
- Ethereum (ETH) Deflation Hits Record High, Will Price Hit $2000?
according to Kyptos