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4-Year-Old Brazilian Baby Nets Over 6,500 Percent Gains On Bitcoin



The four-year-old daughter of Brazilian crypto exchange founder Joao Canhada has made a massive profit of over 6,500 percent on her first bitcoin. Canhada, who founded the cryptocurrency exchange platform Foxbit, gifted bitcoin to his newborn daughter in 2017 when it was still worth $1,000 (about Rs 75,310). Four years later, the value of that bitcoin has exceeded $60,000, bringing huge gains to the little kid.

Back in 2017, that one token cost less than $1,000. Today, BTC is trading at over $60,000 (approximately Rs 46 lakhs) as of Monday, 18 October.

“As soon as my daughter was born, in 2017, I bought 1 bitcoin (BTC) for her, not only as a gift, but as a way to invest in this new economy,” news portal Quoting Canhada.

This news comes at a time when voices are being raised in support of crypto across the world. For example, billionaire investor Mark Cuban recently said that bitcoin is “better gold than gold”.

In a similar incident reported in September, a 12-year-old boy named Benjamin Ahmed from London, UK, received $400,000 (roughly over Rs 3 crore) through the crypto-space. During most of his school holidays, Ahmed auctioned a series of non-fungible tokens (NFTs). The cryptocurrency market grew by 706 percent in the 12 months leading up to June 2021 to reach a value of $572.5 billion (approximately Rs 42,62,844 crore). ) only in Central and Southern Asia, and Oceania (CSAO) region, said a report by market research firm Chainalysis.

Tech mogul Elon Musk also recently said that cryptocurrencies cannot be destroyed right now and that their growth will be seen globally in the times to come.

Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on 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, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.


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