How Did a Brazilian Toddler Net Over 6,500 Percent Profit on Bitcoin?

The four-year-old daughter of Brazilian crypto exchange founder Joao Canhada has earned a mega-profit of over 6,500 percent on her first ever Bitcoin. Canhada, who founded the crypto exchange platform Foxbit, had gifted his newborn daughter a Bitcoin back in 2017, when it was still priced at $1,000 (roughly Rs. 75,310). Four years later, the value of that Bitcoin has shot up to over $60,000, netting the young child a huge profit.

Back in 2017, that one token was priced under $1,000. Today, BTC is trading at over $60,000 (roughly Rs. 46 lakhs) as of Monday, October 18.

“As soon as my daughter was born, in 2017, I bought 1 Bitcoin (BTC) for her, not just as a gift, but as a way of investing in this new economy,” news portal quoted Canhada as saying.

This news has come to light at a time pro-crypto voices are loudening around the world. Billionaire investor Mark Cuban for instance, recently said that Bitcoin is a “better gold than gold”.

In a similar incident reported in September, a 12-year-old boy named Benyamin Ahmed from London, UK fetched $400,000 (roughly over Rs. three crores) via the crypto-space. Making most of his school holidays, Ahmed auctioned a series of non-fungible tokens (NFTs).In the 12 months up to June 2021 the cryptocurrency market grew by 706 percent and reached a value of $572.5 billion (roughly Rs. 42,62,844 crores) in Central and Southern Asia, and Oceania (CSAO) region alone, a report by market research firm Chainalysis had said.

Tech mogul Elon Musk has also recent said that cryptocurrencies cannot be destroyed now and that their growth will be witnessed globally in the coming times.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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