A Terra (LUNA) millionaire is now discouraged by the recent sale
Dutch cryptocurrency millionaire Etienne vantKruys, who was recently profiled by the New York Times, predicts that the price of Terra (LUNA) could end up hitting $500 over the next five years:
My guess is that Luna is going to be $500 in five years. It is the horizon with which we play.
Terra (LUNA) took the market by storm in 2021, adding roughly 17,500%. The cryptocurrency, however, had an extremely rough January, erasing half of its value.
On January 31, the cryptocurrency plunged to 43.44%, the lowest level since November 28. It was hit harder than other major cryptocurrencies due to a double whammy of the depleted reserves of the Terra-based DeFi Anchor protocol and the Wonderland scandal.
Despite the recent recovery, the cryptocurrency is still down 43.74% from its record high, currently trading at $58 on major spot exchanges.
Luna’s millionaire, however, is undeterred by the crash, saying he will continue to hold his stash after selling part of his stash to buy a house for his partner.
According to the report, vantKruys purchased $25,000 worth of LUNA when the cryptocurrency when it was trading at less than a dollar, thus making a massive profit on his original investment.
After Bitcoin made many of its early adopters very wealthy, many altcoin fans managed to replicate their success.
Last year, Dogecoin holder Glauber Contessoto also made headlines after making a fortune with the meme cryptocurrency.
The story of a supermarket worker who became a millionaire by investing in Shiba Inu went viral in November.
According to a survey that was published in November a whopping 59% of millennial millionaires believe that they will become millionaires by investing money in crypto.
