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Crypto Investor Turned $8,000 Into $5.7 Billion With One Transaction

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Crypto Investor Turned $8,000 Into $5.7 Billion With One Transaction

A crypto investor could be the owner of two incredible things.

Morning Brew has highlighted how this individual might be the title holder of the 'greatest individual trade of all time' and is also $5.7 billion richer.

The business news site states the investor bought $8,000 worth of Shiba Inu Coin last year, which equated to a casual 70 trillion coins.

The person held on for dear life and it looks like that has netted them an unbelievable amount of money.

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In just 400 days, their arguably small investment has turned into more than five billion dollars. That is absolutely nuts.

But that huge sum might not be able to be withdrawn using the usual means.

Internet sleuths have noted that the person's account has been inactive for 200 days, which means they could have either died or they have forgotten their password.

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The only other scenario is that they are so confident about their investment that they're happy to just let it sit there without checking on it.

But if that latter case is correct then it could be tricky to cash out as Coinbase only has a $50,000 a day limit for withdrawals. As BroBible notes, that means it would take 114,000 days, or 312 years to get the total $5.7 billion out.

The person would have to completely sell their current 13 per cent stake in the coin for them to be able to properly profit off their investment.

But investors have also pointed out how selling off their assets could end up tanking the coin's price and they might not get that full amount.

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Shiba Inu was launched following the success of Dogecoin, which was started as a joke or meme coin based off the success of Bitcoin.

Essentially, when Bitcoin was starting to gain a lot of press and notoriety, two crypto geniuses launched Dogecoin to mock all the people who were buying up digital assets.

It's logo and name come from the Doge meme and no one really took it seriously.

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However, a few people most certainly did and the coin spiked massively earlier this year, thanks to shoutouts from the likes of Elon Musk.

When Dogecoin was getting some press for its jokey take on the crypto world, an anonymous person called 'Ryoshi' started Shiba Inu in August last year.

That's very meta because the dog in the Doge meme is a Shiba Inu.

While it started out as a joke, this new digital coin has rocketed up in market value and now is one of the biggest in the game.

Featured Image Credit: Alamy

Topics: News, Technology

Stewart Perrie
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