Ex-bitcoin developer sold coins with current value of $1.2 billion at $5

„I would be a billionaire now if I hadn’t sold the 55,000 BTC mined on my laptop in 2009-2010 too soon – mostly before 2012,“ Malmy shared.

He said he was working on launching the now-defunct Bitcoin System Exchange in 2010.

„There was no exchange per se at the time, and I was running the trading platform mostly as a bitcoin crane rather than a business, and ended up getting 30,000 BTC less.“

The ex-developer noted that he never thought about making money from bitcoin:

„It happened by accident, as a byproduct, when Satoshi asked me to keep my node running so others could connect to the network.“

His bitcoin savings were enough to buy a studio apartment near Helsinki.

„That’s an accomplishment for a 22-year-old guy who never had much money. It’s probably the most expensive studio in the world right now, but at least it’s more than two pizzas,“ Malmy writes.

He later wanted to keep the coins, but after losing his job in 2012 was forced to sell most of them for about $5 a unit.

„It’s unfortunate, but then again, the first bitcoin enthusiasts got more than a personal gain.“

Malmy added that he learned several lessons from the situation:

„Money matters – the more of it, the better. But you don’t have to be rich to have a good life. Besides, you don’t live forever and striving for something more brings meaning to life.“

As of this writing, the price of bitcoin is $22,860.

Earlier, Ethereum co-founder Vitalik Buterin said that in 2013 he sold half of the bitcoins he had „so he wouldn’t go broke.“