He mined 55,000 bitcoins almost for free in 2009
He mined 55,000 bitcoins almost for free in 2009: the „almost billionaire“ tells his story
A life lesson on HODL – The stories of early adopters of Bitcoin (BTC) don’t always end as well as those of the Taihuttu family or the Japanese restaurateur we’ve seen in recent weeks. In this case, one of the early Bitcoin fans and miner sold what would now be a real fortune.
Martti Malmi, also known as Sirius, was a Bitcoin developer from the early years of this young decentralized network created by Satoshi Nakamoto.
On his Twitter account (@marttimalmi), this early Bitcoin fan explains that he could have held the current equivalent of nearly $1.3 billion worth of BTC today… if only he hadn’t sold!
„I’d be a billionaire now if I hadn’t sold the 55,000 Bitcoins I mined on my laptop between 2009 and 2010 much too soon (especially before 2012). It’s unfortunate, but with the first Bitcoiners, we set in motion something much bigger than our personal gains. »
It’s hard to believe in the current context where a single Bitcoin Revival is now worth more than $23,000, but Martti Malmi explains that he sold 5,050 BTCs for $5 in October 2009.
Bitcoin has nevertheless managed to change his life
Rest assured, even if it didn’t make him a billionaire, Bitcoin nevertheless allowed its developer to afford a few material goods, in addition to the moral reward of having contributed to building this incredible network.
When the BTC reached a „super“ peak of between $15 and $30 per unit in 2011, Martti Malmi explains :
„In 2011, when the exchange rate reached a peak of 15 to 30 dollars, I sold more than 10,000 BTCs to buy a fairly comfortable studio near Helsinki. A great deal for a 22-year-old who has never had much money. Probably the most expensive studio in the world today, but at least I got more than two pizzas! »
Even if it is easy to say today, with the ease of hindsight, that it would have been better to wait, it is proof that Bitcoin had the strange power to change lives from that time on.
By way of conclusion, here is the philosophy that this genius developer draws from it:
„(…) 1) Money matters: more is always better than less. 2) But you don’t have to be rich to lead a perfect life. It’s all about basic needs. 3) You don’t live forever. Pursuing something bigger than yourself gives meaning to life. Thanks to Satoshi and others who have made Bitcoin what it is today. May it bring peace and prosperity to the world. Long live Bitcoin. »