A crypto investor has sold their Bitcoin (BTC) holdings after holding the asset for 13 years. The trader, @BTCBreadMan on X, claims to have turned an initial investment of $100 into $2 million.
On July 21, the trader announced that they had exited their Bitcoin position. The post did not include transaction records, screenshots, or wallet data. Breadman did not reveal how many coins they held or when they first bought Bitcoin.
However, the trader said the gains were enough to live comfortably for the rest of their life and that they would now focus on safer, low-risk assets.
Estimated Sale: Around 17 BTC Liquidated
At the time of Breadman’s post, Bitcoin was trading in the range of $118,000 to $119,000. Based on the claimed $2 million proceeds, the trader likely sold about 17 BTC. This suggests the coins were accumulated when prices were under $10, placing the likely entry point in 2012.
A $100 investment in 2012 would have bought more than 10 BTC depending on the exact purchase date. If Breadman acquired Bitcoin throughout the year during dips below $10, the 13-year hold aligns with their claim.
Economist and gold advocate Peter Schiff responded to Breadman’s post. He congratulated the trader but added that those who bought Bitcoin at this level were making a mistake. Schiff also urged the trader to invest in real assets outside the U.S. to avoid inflation eroding the value of their $2 million.
Schiff’s view has remained unchanged despite Bitcoin’s new all-time highs. He has repeatedly dismissed Bitcoin as a speculative asset and advised investors to buy gold instead.
Bitcoin Hits Record Highs This Month
Bitcoin set a new all-time high of $123,153 on July 14. Since then, it has traded just below that level. Breadman’s decision to sell came during this peak range, where long-term holders often take profits.
At the time of writing, Bitcoin was trading at around $117,400, nearly 5% down from its recent high.
Breadman is not the only early adopter to sell during this rally. Earlier this month, a dormant wallet holding 80,000 BTC from 2011–2014 moved the funds. Based on current prices, the holdings were worth more than $9.5 billion. The wallet had initially acquired the coins for less than $200,000.
Another investor who bought Bitcoin in 2013 recently sold 300 BTC for nearly $30 million. These exits show that some long-term holders are choosing to de-risk as Bitcoin trades near its peak.
Data from Glassnode shows a sharp increase in profit-taking activity among long-term holders. On one day last week, Bitcoin investors realized $3.5 billion in profits. More than half of that came from wallets that had held their coins for multiple years.
This matches past cycles, where long-term investors start selling once Bitcoin reaches new highs. Analysts do not consider this a sign of weakness, but rather a natural part of market behavior.
