A crypto enthusiast known as Shibtoshi has become a billionaire through his investment in Shiba Inu (SHIB) in 2021.
● Become a Billionaire from Shiba Inu
Shibtoshi's journey to riches began with a modest investment of US$8,000 in Shiba Inu (SHIB) in August 2020, during the token's early trading.
What's interesting, it wasn't tips from within that brought him to SHIB, but recommendations from friends who were also exploring the world of crypto.
What sets Shiba Inu apart for Shibtoshi is its potential as a competitor to Dogecoin (DOGE), a meme cryptocurrency that has gained a lot of attention, but which he had never previously invested in.
The decision to explore this new territory was not impulsive, Shibtoshi has been an active crypto investor since 2011, demonstrating his solid understanding of market dynamics.
However, the journey has been far from smooth. After his initial investment, the value of his SHIB holdings declined, a common experience in volatile crypto markets.
However, he remained steadfast, undeterred by this temporary setback. Additionally, Shiba Inu faced additional challenges when the associated Telegram group suffered a compromise, sowing doubts among investors.
_Bitcoinist reported that, some of Shibtoshi's friends panicked and sold their holdings to minimize losses, but he chose to be patient rather than panic.
His determination paid off handsomely. Nearly a year later, in October 2021, Shiba Inu's value shot up, and Shibtoshi's US$8,000 investment turned into US$5.7 billion, representing an astronomical increase of 71,249,900 percent.
It was a trade that will go down in history as one of the greatest, if not the greatest, in the world of cryptocurrency.
When the value of his Shiba Inu holdings reached a very high level, Shibtoshi took strategic steps.
Reports from 2021 revealed that he moved US$2.9 billion of SHIB from his original wallet to another wallet, then distributed the tokens to various wallets.
Currently, the original wallet contains about US$1.44 million of SHIB, while the rest is spread out in packets of 500 billion tokens to different wallets. Patience and confidence are key.
