In August 2020, an investor bought about $8,000 worth of Shiba Inu, a crypto wallet shows. Today, just over a year later, his coins worth is $ 5.7 billion, up more than 70,000,000%. However, it’s feared that the wallet is now inactive.
A wallet containing 70,200,003,182,169 (70 trillion) Shiba has netted the collector a truly ridiculous return on investment following a spate of purchases made last year.
In what’s being dubbed the greatest individual trade of all time, a crypto investor turned about $8,000 into about $5.7 billion by buying trillions of Shiba Inu coin shortly after it debuted, The Insider said.
The series of trades began in August 2020, when the investor bought about 70 trillion Shiba Inu coins, according to their associated crypto wallet. Shiba Inu coins began trading on August 1, 2020, and the investor took note that day and made their first Shiba Inu purchase, buying about 70 billion coins.
About the time of the investor’s $8,000 purchase, Shiba Inu coins were trading at about $0.000000000189. Today, the cryptocurrency is trading at about $0.00007941, which represents a swift 14-month gain of more than 70 million percent.
The crypto wallet now owns more than 13% of the total supply of Shiba Inu coin, which has a total circulating supply of 549 trillion coins, according to CoinMarketCap.
Shiba Inu’s unlikely rise has catapulted the meme-inspired cryptocurrency to a total market valuation of nearly $45 billion, eclipsing Dogecoin and becoming the ninth most valuable cryptocurrency as of Thursday morning.
The move higher has been a head-scratcher for many investors who see Shiba Inu coin as nothing more than a joke based on another cryptocurrency known as Dogecoin, which itself was created to make fun of other cryptocurrencies like Bitcoin and ether.
However, not all news about the holder is good. The wallet might be inactive now. Its activity shows that the last transaction was made 192 days ago, with no buys, sell, or transfer made by the holder since.
It would be a cruel twist of fate if the holder couldn’t access the funds anymore, considering their conviction during last year’s market downturn.
Now that Shiba has come back into the limelight, it will be interesting to see if the holder reappears and completes what many are calling “the greatest trade of all time.”