A wallet has conducted what is believed to be the biggest trade of all time performed by an individual: it bought $8,000 of Shiba Inu (SHIB) last August, which is now worth $5.7 billion. According to a tweet published by Morning Brew, the investment came from $8,000 to $5.7 billion in just 400 days.
“We may actually be looking at the greatest individual trade of all time,” Morning Brew commented. In fact, the exact amount of the token’s value is $5,712,184,031.11 as of press time. As expected, the transaction has sparked several discussions among the crypto community.
Some of the comments are suggesting the individual behind the wallet take the following decision to make other SHIB holders millionaires: “This individual currently holds about 20% of the SHIB market cap. This dude should burn $5Bn worth, hold $700MM, reducing the supply by ~17%. The price would jump, he would spawn countless millionaires, and his $700MM would be worth $2Bn in six months. BE A LEGEND.”
Safle’s CEO Abhimanyu Kashyap on Creating Frictionless ExperiencesGo to article >>
Bill Ackman Big Bet
The investment is quite significant when compared with traditional ones. For example, during the initial phase of the coronavirus pandemic, Bill Ackman, a hedge fund billionaire, turned a $27 million bet into a $2.6 billion profit after making defensive hedge bets amid risks of economic crisis due to the outbreak.
At that time, according to the Business Insider, it was considered as the ‘single best trade of all time,’ after the famous George Soros’ bet that ‘broke’ the Bank of England by pocketing $1 billion in returns.
In the last few months, Shiba Inu, one of the world’s most valuable cryptocurrencies by market cap, has experienced immense retail demand. With a market cap of approximately $31 billion according to Coinmarketcap, the meme coin has risen from a few million dollars earlier this year. In fact, Dogecoin’s largest competitor, even considered as its ‘killer,’ developed a strong following in the last 8 months.