A $ETH trader turns $87,000 into $40 million after 8 years of holding

A $ETH whale recently proved that a simple buy-and-hold strategy can yield big results.

While complex trading strategies can yield big gains for investors, a recent example of an Ether whale proves that a simple buy-and-hold approach can also yield impressive results.

In February 2016, Ether ETH €2,153 was trading at around $5 per token. At the time, an investor purchased 16,636 ETH on the ShapeShift crypto exchange. Chinese crypto data account EmberCN said the tokens were purchased at $5.23 per token, putting the total cost at $87,006.

The blockchain analytics account said that after holding for over eight years, the account began selling some of its holdings. On Sept. 16, the trader sold 350 ETH at $2,340 per token, putting his initial profit at $819,000, almost 10 times more than the principal.

The trader still has over $38 million worth of ETH after the sale.