João Canhada, the founder of a Brazilian crypto exchange Foxbit, gifted 1 Bitcoin (BTC) to his newborn daughter, around worth $915.80 in 2017, as the 4-year-old girl now earned over 6,500% profit.
“As soon as my daughter was born, in 2017, I bought 1 Bitcoin for her, not just as a gift, but as a way of investing in this new economy. At the time, BTC cost 5,000 Brazilian Real.”
It has been reported that four years later, the one BTC investment has returned profits of over 6,500% for the child as the price of Bitcoin surges back to the $60,000 mark. The year 2017 was the last chance for investors to purchase Bitcoin under $1000, a fact Canhada was unaware of at the time.
However, just last month, a 12-year-old boy from London reportedly made nearly $400,000 during the school holidays by selling a series of nonfungible tokens (NFT). London-based Benyamin Ahmed created and tokenized Weird Whales, a collection of digital pictures of whale emojis that were then sold in NFT form.
Thus, while Ahmed was not eligible to open a bank account due to age restrictions, his father clarified that the reported earnings made through NFT sales have been converted to Ether (ETH).