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Early Bitcoin dev misses out on $1.3B after selling too soon

Published 12/20/2020, 03:49 PM
Updated 12/21/2020, 05:40 PM
Early Bitcoin dev misses out on $1.3B after selling too soon

Early Bitcoin dev misses out on $1.3B after selling too soon

Martti Malmi, one of the earliest Bitcoin developers and also known as Sirius, has explained what happened to his once massive crypto holdings since 2009.

According to a Friday Twitter thread from the former Bitcoin (BTC) developer, Malmi mined roughly 55,000 coins between 2009 and 2010 when the price was almost zero. Malmi said that he ended up liquidating 5,050 BTC for $5 in October 2009, and losing 30,000 BTC through one of the first Bitcoin exchanges he ran when “there was no established exchange rate.”

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