Brazilian toddler makes over 6500% profit on first bitcoin credit
A 4-year-old girl is said to have made over 6500% profit on a Bitcoin (BTC) gift she received on the day of her birth.
JoÃ£o Canhada, the founder of a Brazilian crypto exchange Foxbit, offered his newborn daughter 1 BTC, worth around $ 915.80. Sharing details of the event, Canhada said:
âAs soon as my daughter was born in 2017, I bought 1 Bitcoin for her, not just as a gift, but as a way to invest in this new economy. Back then, BTC cost 5,000 Brazilian reals.
Four years later, the BTC investment alone has reported profits of over 6500% for the child as the price of Bitcoin climbs back to $ 60,000. 2017 was the last chance for investors to buy Bitcoin under $ 1,000, a fact Canhada was unaware of at the time.
Related: UK tween earns nearly $ 400,000 on NFT sales without a bank account
Last month, a 12-year-old boy from London reportedly earned nearly $ 400,000 during the school holidays by selling a series of non-fungible tokens (NFTs).
According to a Cointelegraph report on this, London-based Benyamin Ahmed created and symbolized Weird Whales, a collection of digital images 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 income generated from NFT sales has been converted to Ether (ETH).