A long-term cryptocurrency investor turned $1,000 into $1 million, highlighting the rewards of a patient hold strategy for digital assets.
This "diamond hands" cryptocurrency holder transformed their initial $1,000 investment in BNB into over $1 million, achieving a 1,000-fold return in eight years.
According to blockchain data platform Lookonchain, the investor acquired these tokens for just $1,000 when the BNB trading price was around $1 in 2017.
Despite achieving a 1,000-fold return, the trader continued to hold onto their BNB tokens instead of cashing out, according to blockchain intelligence platform Nansen.
According to Cointelegraph data, the BNB token reached an all-time high of $1,005 on Tuesday, and this nearly $1 million profit indicates growing investor expectations for the upcoming altcoin season.
Three weeks ago, Raoul Pal, founder and CEO of Global Macro Investor, predicted that the cryptocurrency market is in the "waiting room" before the next phase of price discovery, which could extend the market cycle peak into the first or second quarter of 2026.
"Our research indicates (from a probabilistic perspective) that the cycle will extend into the first quarter of 2026, possibly into the second quarter of 2026, due to slow business cycles forcing longer liquidity," he stated in an X post on August 29.
According to Marwan Kawadri, head of DeFi at BNB Chain and responsible for the Europe, Middle East, and Africa region, multiple growth factors, including the token's native "utility," contributed to BNB's breakthrough to an all-time high of $1,000.
BNB is a "unique" network token with growing utility on centralized exchanges, and due to the "growing momentum of DAT focused on high-quality assets like BNB," institutional demand for it has increased, Kawadri told Cointelegraph.
He added that this creates a "flywheel effect for the network and its native token."
"Watching #BNB go from the ICO price of $0.10 eight years ago to $1,000 today is beyond words," said Binance co-founder and former CEO Changpeng Zhao in an X post on Thursday.
"We faced challenges along the way, but we worked hard, we built, and we persevered," he added.
Related: Trader: Bitcoin (BTC) bulls will quickly test all-time highs if they reclaim $118,000
Original article: “As BNB Hits $1,000 All-Time High, ‘Diamond Hands’ Investor Turns $1,000 into $1 Million”
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