Bitcoin investor turns $324 into $8 million after nearly 15 years

An investor who bought $324 worth of bitcoin nearly 15 years ago now holds coins valued at about $8 million, according to details released about the stake.

The purchase likely occurred in 2011 or 2012, when bitcoin traded at a small fraction of its current price. The $324 holding has appreciated roughly 24,700 times, which corresponds to an annualized return near 96% per year over the period.

The investor’s identity and the exact date of the purchase were not disclosed. It is unclear whether any coins were sold, whether funds moved between wallets, or whether taxes were paid on gains.

The $8 million figure is a snapshot based on current market prices. Any cash realized would depend on the timing and size of sales, trading fees, tax liabilities and market liquidity when executing large transactions.

Bitcoin was introduced in 2009 by a person or group using the pseudonym Satoshi Nakamoto. The asset has experienced multiple sharp rises and declines driven by changes in investor demand, regulatory decisions, technological developments and the launch of investment products that broadened access.

Early buyers who retained holdings through several market cycles have at times reported large nominal gains. Returns for other investors have varied widely depending on when they entered the market and whether they sold during downturns.