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Alex Dovbnya

A Terra (LUNA) millionaire is now deterred by the recent sell-off

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 idea is Luna is going to be $500 in five years. That’s the horizon we’re playing with.

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 Jan. 31, the cryptocurrency plunged to 43.44%, the lowest level since Nov. 28. It got clobbered harder than other major cryptocurrencies due to a double whammy of the depleting reserves of Terra-based DeFi protocol Anchor 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.

The Luna millionaire, however, is not deterred by the crash, claiming that he will continue holding his stash after selling a portion 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 plenty of its early adopters filthy rich, 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.

A story about a supermarket worker who turned himself into 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.  

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