A cryptocurrency investor earned $131.72 million by buying Ether during the 2022 market downturn and holding onto it through two years of market uncertainty.
Blockchain analytics firm Lookonchain identified the investor’s wallet, highlighting the risks of panic selling. This individual, described as having “diamond hands,” held onto 96,639 ETH purchased from Coinbase in early September 2022 when Ethereum was priced around $1,567.
By adopting a long-term holding strategy, the investor acquired $151.42 million worth of ETH. In March 2024, they transferred 70,000 ETH—about 72% of the original purchase—into Kraken, when Ether was trading at $3,062. This transfer was worth $214.34 million.
The investor still holds 26,639 ETH, valued at $68.81 million, in their wallet.
Over time, the strategy of buying during market dips has allowed many crypto investors to secure significant long-term profits. Recently, a Shiba Inu investor made $1.1 million from a $2,625 investment after holding for 3.5 years. Similarly, another trader turned $3,000 into $46 million by trading Pepe during a surge in memecoin prices.
