A Brazilian father’s gift of 1 BTC (roughly $915.80) to his newborn daughter back in 2017 makes over 6,500% profit as Bitcoin is now worth more than $60,000.
A 4-year-old girl is said to have profited almost 6,500% on a one Bitcoin (BTC) gift she got on the day of her birth.
João Canhada, the creator of the Brazilian crypto exchange Foxbit, gave his newborn daughter 1 bitcoin, which was worth $915.80. Canhada shared the following details about the event:
“As soon as my daughter was born, in 2017, I bought 1 Bitcoin for her, not just as a gift, but as a way of investing in this new economy. At the time, BTC cost 5,000 Brazilian Real.”
Four years later, the child’s single BTC investment has yielded a profit of more than 6,500 percent, as the price of Bitcoin has risen back to the $60,000 threshold. Canhada was ignorant at the time that 2017 was the last year for investors to buy Bitcoin for under $1000.
A 12-year-old London child apparently gained about $400,000 during the school holidays by selling a series of nonfungible tokens just last month (NFT).
According to a report by Cointelegraph, London-based Benyamin Ahmed produced and tokenized Weird Whales, a collection of digital photos of whale emojis that were then sold as NFTs.
While Ahmed was unable to open a bank account due to his age, his father stated that the reported revenues from NFT sales had been transferred to Ether (ETH).