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Every Bitcoiner’s Worst Nightmare Becomes an NFT

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Fri, 02/04/2022 - 20:34
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Alex Dovbnya
The most infamous Bitcoin tweet is being auctioned as an NFT on OpenSea
Every Bitcoiner’s Worst Nightmare Becomes an NFT
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Early Bitcoin investor Greg Schoen has announced that his legendary tweet, in which he expressed his regret about taking profits too early, is now available for auction on leading NFT marketplace OpenSea.

He says that “a ton of people” have suggested such an idea even though the fact that someone wants to buy his tweet from 2011 caught Schoen by surprise.

As reported by U.Today, former Twitter CEO Jack Dorsey and Cardano creator Charles Hoskinson were among those who auctioned their famous tweets as NFTs last year.

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Teaching the importance of HODLing

Back in May 2011, when Bitcoin reached $8, Schoen tweeted about selling 1,700 BTC that he purchased for $102 at $0.30, thus missing out on significant gains.

His stash would have been worth a whopping $68 million as of today.       

Throughout all these years, Schoen’s story has been serving as a cautionary tale for those Bitcoiners who question the power of HODLing.

The early investor didn’t abandon the cryptocurrency community out of spite, remaining relatively active on Twitter.

Back in December 2017, the month Bitcoin hit $20,000 for the first time, Schoen tweeted that he was “long over it.” Back then, he said that he still owned some crypto, but his balances were “much lower.” In September 2018, Schoen tweeted that he had sold his remaining Bitcoin at $15,000 to pay off student loans.

Schoen harbors no illusions, claiming that he would have been tempted to sell at every major price milestone if he hadn’t sold at $0.30:

Unless you literally knew for a fact it was gonna rise like a rocket you'd be tempted at every milestone.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.