A father's gift of 1 BTC (roughly $915.80) to his newborn daughter back in 2017 is now worth more than $60,000.
A 4-year-old girl has reportedly earned over 6,500% profit on a one Bitcoin (BTC) gift she received on the day of her birth.
João Canhada, the founder of a Brazilian crypto exchange Foxbit, gifted 1 BTC to his newborn daughter, roughly worth $915.80. Sharing details on the event, Canhada said:
“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 one BTC investment has returned profits of over 6,500% for the child as the price of Bitcoin surges back to the $60,000 mark. The year 2017 was the last chance for investors to purchase Bitcoin under $1000, a fact Canhada was unaware of at the time.
Just last month, a 12-year-old boy from London reportedly made nearly $400,000 during the school holidays by selling a series of nonfungible tokens (NFT).
According to a Cointelegraph report on this matter, London-based Benyamin Ahmed created and tokenized Weird Whales, a collection of digital pictures of whale emojis that were then sold in NFT form.
While Ahmed was not eligible to open a bank account due to age restrictions, his father clarified that the reported earnings made through NFT sales have been converted to Ether (ETH).