According to a disposable BitcoinHolderThankU account, the Reddit user was able to cash out around $ 4.2 million in Bitcoin (BTC) after finding the lost 127 BTC keys on December 22, when the price of the crypto asset was of $ 23,000. They later sold off the coins in the middle of the bull run.
“I spent the next week figuring out how to safely and securely liquidate such a large amount of Bitcoin at the cheapest possible price,” the Redditor said. “I went back and forth between different [over-the-counter principal desks] and eventually ended up selling the 127 Bitcoins for $ 33,439.02 per coin minus 0.15% fees. The net was around $ 4.24 million. ”
They claim to have earned Bitcoin in 2011 or 2012 through “polls, watching videos, and doing random tasks” and ultimately using the coins to purchase in-game currency for the DarkOrbit online game. Private keys would never really have been lacking, just forgotten on an older model Dell computer as BitcoinHolderThankU ended up not buying the currency.
Sadly, if Redditor’s account is to be believed, they missed out on $ 1million in extra profit by not holding for a few more weeks. Since December, the price of Bitcoin has surpassed $ 41,000 to reach new all-time highs. BitcoinHolderThankU admitted that they “would not have sold the 127 Bitcoins” if the same situation happened again.
“To give myself credit I have been doing HODL for 8-9 years which is more than the vast majority of crypto users,” they said. “I certainly would have done things differently if I had had a second chance.”
Despite their sudden fortune, the Redditor says they will avoid “expensive luxuries” and intends to put most of the funds in the S&P 500, adding:
“I don’t want to end up like one of those people who win the lottery and blow everything up in a few months / years […] I will continue to live my life normally as I was on December 21 and every day before that.
Unfortunately, not all stories involving lost or forgotten keys have such a happy ending. There may still be over $ 285 million worth of Bitcoin lost somewhere in a UK landfill after an IT worker accidentally threw away his personal laptop with his keys in 2013.