Saturday, December 2, 2023

Brazilian kid earns over 6,500% profit on her first Bitcoin holding

A young girl aged 4 has earned a profit of almost 6,500% on a single Bitcoin (BTC) gift she received as a gift from her father after her birth.

Joao Canhada, the founder of the Brazilian cryptocurrency exchange called Foxbit, gave his baby daughter 1 bitcoin that is currently worth $915.80. The father revealed the facts of the occasion, saying that he purchased one Bitcoin for his child immediately after her birth in 2017. It wasn’t just a present- it was a method of putting money into the changing economy. BTC was worth 5,000 Brazilian Reals at that time. After four years, the child’s Bitcoin purchase has made her a profit of over 6,500 percent, since the value of Bitcoin has gone up to the $60,000 threshold. Investors had one last opportunity to buy Bitcoin for less than $1000 in 2017. At the time, Canhada was completely unaware of this.

A 12-year-old boy from London apparently earned approximately $400,000 during the summer break by trading a sequence of non-fungible tokens (NFTs) last month.

Weird Whales was invented and tokenized by Benyamin Ahmed from London, as per a Cointelegraph piece on the same. It’s a compilation of whale emoji digital images which were then marketed as NFTs.

While Ahmed was not allowed to open a new account because of age restrictions, his father confirmed that the claimed revenues from the sale of the were transferred to Ether (ETH).

These two examples show once again the unexpected ways in which cryptocurrency can reward people, even those who do not plan on active investment.

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Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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