An anonymous cryptocurrency investor increased their investment in various altcoins from $300,000 to approximately $3.23 million in just one month, a near tenfold increase. This fortune was earned through trading low-volume altcoins following a high-risk investment strategy that this time resulted in positive outcomes.
From $315,000 to $3.23 Million
The success of an anonymous crypto investor’s extremely high-risk investment strategy was noticed by on-chain data provider Lookonchain. According to Lookonchain, the investor initially invested $315,000 in various altcoins and managed to increase their investments by about ten times to $2.98 million in a remarkably short period of one month.
Data shows that after the anonymous crypto investor’s impressive earnings story was revealed, their assets rose to $3.23 million and continued to increase.
Reached $2 Million in Unrealized Gains with a Single Altcoin
Data provided by Lookonchain indicates that the majority of the crypto investor’s gained wealth came from MultiBit (MUBI). This altcoin, which acts as a two-way bridge between Bitcoin and Ethereum, has seen its price increase by 4,729 percent since its launch.
The investor acted within three days after the altcoin’s launch, spending 38.33 Wrapped Ethereum (WETH) worth $75,500 to purchase 10.27 million MUBI. The 10.27 million MUBI they acquired is now worth $2.61 million, and they have reached $2.53 million in unrealized gains just from MUBI.
However, there are some complications regarding the investor’s liquidation of their MUBI investment and converting the unrealized profit into a realized one. A high-volume sale of MUBI has the potential to directly affect the price of the altcoin, and the price may drop during the sale, making it impossible to pocket the full profit seen on the screen. It’s important to note that the investor also increased their money by trading in multiple altcoins, not just MUBI.
