Martti Malmi, one of the earliest Bitcoin developers and too known as Sirius, has explained what happened to his in one case massive crypto holdings since 2009.

According to a Friday Twitter thread from the former Bitcoin (BTC) developer, Malmi mined roughly 55,000 coins between 2009 and 2010 when the price was nigh zero. Malmi said that he ended up liquidating 5,050 BTC for $5 in October 2009, and losing thirty,000 BTC through one of the kickoff Bitcoin exchanges he ran when "there was no established substitution rate."

"I was planning to HODL the rest of my BTC, just had to sell the most of it at a bad charge per unit (~$5) in 2012 when finding a new task took longer than expected," said Malmi. "Since then I've kept my varying amount of savings in BTC. That'south not much, only nevertheless nice gains over the years."

However, the Bitcoin developer'southward arguably most substantial investment from his early on crypto earnings was when he sold ten,000 BTC in 2011 to buy an apartment in Helsinki. "Probably the nigh expensive studio in the world at present," he said on Twitter.

With Bitcoin's contempo rally to $24,000, Malmi'south original 55,000 BTC holdings would at present exist worth more than $1.3 billion. Despite this, the erstwhile developer says he "never had serious regret."

"This hasn't been as rough as it might showtime sound," said Malmi. "Information technology's not like I always had $1B and lost it overnight. Besides Bitcoin's success, I was pretty darn happy near getting my own apartment at age 22."

He added:

"Mayhap attributable to Finnish culture, idealistic mentality and lack of life experience, I never thought much almost making money. It happened accidentally equally a byproduct of Satoshi asking me to keep my node running so others could connect."

Malmi is not the only major crypto figure who liquidated their holdings seemingly out of necessity. In Oct, Ripple CTO David Schwartz revealed that he sold 40,000 Ether (ETH) at $ane each every bit part of a chance management programme he made with his spouse in 2012. The tokens would at present be worth more than than $26 1000000 afterwards the price passed $600 last week.