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This early investor just sold his Ethereum stash he hodled for five years

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When stories of Bitcoin millionaires began to emerge alongside the asset’s rally, Ether’s users also had a tale or two to share. An anonymous hodler who bought Ether, when it was trading at $2, is apparently “fully out of the game.” The trader who goes by the handle “u/FollowMe22” on Reddit apparently sold Ether recently. The early investor claimed to have gained about 14,900% in long-term capital gains and intends to purchase a house.

The unknown hodler, who runs an e-commerce business, claimed to have started buying Ethereum in early 2016 “after missing the boat on Bitcoin.” The user earlier sold off a majority of Ether “coins” in 2017, when crypto markets were on a bullish course and added

I put my whole tax return in in 2016 and threw a couple hundred at it whenever I could. I didn’t buy a car and biked to work to save money. I remember at the time thinking there was about a 1/3 chance it [Ether] would 100x, so there was an asymmetrical risk/reward in my opinion.

According to another post on Reddit, the long time hodler was looking to buy about 250 ETH, initially and was concerned about being “very new” to the cryptocurrency world and “not very technically savvy.”

I’ve been doing a lot of reading on the Ethereum subreddits, but before signing up for Kraken I wanted to get some feedback from the trading community because there aren’t many posts specifically about buying ETH with USD… I do plan to hold ETH for long-term.

As of now, the Redditor is interested in “potentially getting back” into crypto markets at some point

There’s a lot I can do with the money in traditional markets that I’m going to pursue.

I think the market is a bit overvalued currently. I would be interested at getting back in at some point, but if it’s in the next year or so I probably won’t because I have other plans with the funds. 5-10 years though definitely.

Ether was up by almost 22% against Bitcoin over the past week as it made its way to prices over $1400. According to David Grider at Fundstrat, Ether could even surge to $10,500, soon.  

Source: https://ambcrypto.com/this-early-investor-just-sold-his-ethereum-stash-he-hodled-for-five-years/

Amb Crypto

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

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Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports […] Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin/

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FD7 Ventures launches $250M Micro-Fund in India for Cardano, Polkadot-based projects

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A few days after FD7 Ventures, a Dubai-based crypto-investment fund, made news after it announced its decision to sell its Bitcoin holdings worth $750M to buy more Cardano and Polkadot, the fund is in the headlines again. According to a press release, FD7 Ventures has now launched a $250M Micro-Fund in India to invest in […] Source: https://ambcrypto.com/fd7-ventures-launches-250m-micro-fund-in-india-for-cardano-polkadot-based-projects/

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Why Mark Cuban is looking forward to Ethereum’s use cases

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Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said: Because now, all these SaaS companies, all these different companies, I could […] Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases/

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Litecoin, EOS, Enjin Coin Price Analysis: 01 March

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Litecoin seemed positioned for additional losses after the long-term moving average closed in on the short-term line. EOS moved within a descending channel after finding support at $3.5. Lastly, ENJ went past a key resistance and saw its price rise on the charts. Litecoin [LTC] Losses in the last seven days amounted to over 25% […] Source: https://ambcrypto.com/litecoin-eos-ftx-token-price-analysis-01-march/

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