An Ether trader has turned a modest $87,000 investment into a staggering $40 million by sticking to a straightforward buy-and-hold strategy for over eight years. In 2016, Ether (ETH) was trading at just around $5 per token. An investor took a chance by purchasing 16,636 ETH on the crypto exchange ShapeShift, paying an average price of $5.23 per token, for a total outlay of $87,006.

Fast forward to September 2024, the trader finally began cashing in on the long-term bet, selling 350 ETH at $2,340 per token and securing an initial gain of $819,000—nearly ten times the initial investment. Despite the small sale, the trader still holds more than $38 million in ETH.

While this buy-and-hold strategy has proven immensely successful, another investor used a more complex tactic to acquire a rare CryptoPunk NFT worth $1.5 million for just 10 ETH (approximately $23,000). The NFT was originally fractionalized into 10,000 shares and later acquired by a clever bid through a “shotgun” contract on the blockchain.

Not all crypto traders are as fortunate, however. Crypto millionaire James Fickel recently suffered a massive $43 million loss after betting that Bitcoin would outperform Ether. The loss has reportedly pushed Fickel's debt to a staggering $132 million.

This series of events highlights both the tremendous opportunities and significant risks in the volatile world of cryptocurrency investing. While some traders reap massive rewards, others face devastating losses.