It has been reported that a 4-year-old girl has made a gain of over 6,500 percent on a one Bitcoin (BTC) gift she received on the anniversary of her birth.
Joao Canhada, the founder of the Brazilian cryptocurrency exchange Foxbit, gave one bitcoin to his newborn daughter, which was worth approximately $915.80 at the time of the gift. Canhada provided the following information about the event:
“As soon as my daughter was born, in 2017, I purchased 1 Bitcoin for her, not only as a gift, but also as a means of making an investment in this new economy.” 5,000 Brazilian Reals (BTC) were required at the time.”
With the price of Bitcoin surging back to the $60,000 mark, the child’s one BTC investment has generated profits of more than 6,500 percent for him four years after he made the investment. Canhada was completely unaware that the year 2017 was the last year for investors to purchase Bitcoin for less than $1000, a fact that he was completely unaware of at the time.
Related: A British tween earns nearly $400K in NFT sales despite not having a bank account Related:
Earlier this month, it was reported that a 12-year-old boy from London had made nearly $400,000 during the school holidays by selling a series of nonfungible tokens (NFT).
Benyamin Ahmed, a London-based cryptocurrency entrepreneur, is said to have created and tokenized Weird Whales, a collection of digital pictures of whale emojis that were then sold in non-fungible token (NFT) form.
In spite of the fact that Ahmed was not eligible to open a bank account because of age restrictions, his father clarified that the reported earnings from NFT sales had been converted to Ether (ETH).