A Reddit user says he (or she) recently regained access to the keys to 127 bitcoins eight years after he last accessed the coins. Immediately after regaining access, the user sold all bitcoins and made more than $ 4 million in the process. According to the user, they received the bitcoins as payment for participating in surveys and some random online tasks.
Bitcoin keys in old computer
The user initially planned to buy a valuable in-game currency called Uridium with the bitcoins as payment. Writing about their experience, the user who goes by the name Bitcoinholderthanku, explains how a visit to his grandparents’ house reunited him (or her) with the 127 bitcoins. In the post, the Reddit user starts his account and says:
I played Dark Orbit at my grandfather’s house, and I was there for about a week over the holidays. While there I was through his old Dell computer that I was using to play the game and came across a .txt folder labeled ‘keys’.
While the user claims that they don’t remember why they ultimately didn’t buy the in-game currency, they are still grateful for the way it went. After holding the coins for eight years, the Reddit user sold them on January 3 for a price of just under $ 34,000 each.
Liquidation of the 127 BTC
Meanwhile, the Reddit user’s first post sparked interest among some users who expressed doubts about the story. Others wondered how the user managed to liquidate all 127 BTC when “even the largest exchanges have limits well below $ 100K / day BTC you can trade on their platform. “
In the future post, the user explains that after weighing up the various liquidation options, he was content to sell “the assets through an OTC Principal Desk”. Then the user explains this process:
I went back and forth between different companies and ended up selling all 127 bitcoins for a price of $ 33,439.02 per coin minus a 0.15% fee. The net amount was approximately $ 4.24 million.
To prove that the story is real, as requested by some redditors, the user shared a screenshot that appears to show his checking account with a balance of $ 4.2 million on January 7. However, the user says they “had to scribble. The title of the transaction” because they wanted to reveal the identity of the company they were dealing with.
The user ends by saying that after “8-9 years of hodl (ing), which is more than the vast majority of crypto users,” he thinks he “wouldn’t have sold all 127 bitcoins had he been given a second chance. ”.
Between the period of receipt of the $ 4.2 million payment and the second Reddit post, bitcoin’s price spiked more than $ 7,000 to $ 41,000. Still, at the time of writing, the cryptocurrency had fallen, trading at just over $ 35,000.
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