Mystery Shiba Inu coin trader turned £5,800 into £4,000,000,000

The Shiba Inu coin started as a joke, but has made one person very rich indeed (Getty)
The Shiba Inu coin started as a joke, but has made one person very rich indeed (Getty)

Investing in cryptocurrencies has to be the number one get-rich-quick scheme in 2021.

Most of the time, it doesn’t work out.

But sometimes – just sometimes – you can really pick a winner.

That’s what one mystery trader did when they decided to go hard on a niche cryptocurrency called Shiba Inu coin.

Originally set up as a joke alternative to the better-known dogecoin, Shiba Inu has surged in value since January this year.

When our hero decided to invest £5,800 in Shiba Inu coin in August 2020, they probably didn’t think they’d be sitting on £4 billion a little over a year later.

A look at the value of the investor's Shiba Inu tokens shows £4bn (Etherscan)
A look at the value of the investor’s Shiba Inu tokens shows £4bn (Etherscan)

According to Etherscan, the anonymous investor started trading on August 1, 2020 when they bought about 70 billion Shiba coins in just one day.

At the time of the investor’s purchase, the coins were trading at about $0.000000000189, while the cryptocurrency is trading at about $0.00007941 today, Markets Insider reports.

Topping the rich list

Whoever made this investment basically now has as much money as Richard Branson (Getty)
Whoever made this investment basically now has as much money as Richard Branson (Getty)

It’s impossible to know what other trades or holdings this particular investor has going on at the moment.

But based on this investment alone, they’re now richer than 99.9% of people in the UK. If they were included on our country’s rich list, they’d sit at around number 16, just behind Richard Branson.

For comparison, Sir Richard has a fortune of £4.43 billion and is ranked as the 480th richest person in the world.

Branson is 71 years old, and this person matched his lifetime earnings in just 400 days.

Should I invest in Shiba Inu coin?

The Shiba Inu coin is surging at the moment (Getty Images)
The Shiba Inu coin is surging at the moment (Getty Images)

No, not really.

The Shiba Inu coin is built on the Ethereum blockchain and has effectively become a meme investment riding on the the coattails of dogecoin.

Like any cryptocurrency, it’s extremely volatile and you can’t be sure what’s going to happen to your investment.

Galina Stavskaya, Head of Investments at Claro Money, told Metro.co.uk: ‘The rise of ‘finfluencers’ means that the topic of money and investments is more accessible and mainstream, which is positive.

‘However, self-proclaimed experts on the likes of Reddit and YouTube can offer advice which is not regulated or supported by any form of expertise or qualification.

‘Often, those sharing advice on these channels are promoting risky trading on the likes of Bitcoin, which is not appropriate for all users.

‘What works for some, doesn’t for others and it’s important that people seek coaching and guidance from credible experts that have knowledge beyond their own experiences.’

So, if you do decide to start investing in any kind of cryptocurrency, proceed with caution.

MORE : Shibu Inu coin cryptocurrency sees 750,000% price gain

MORE : Bitcoin price crash wipes billions from crypto’s global markets

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