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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.
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