A South Korean congressman's cryptocurrency holdings have soared more than 1,000 times in seven years

PANews reported on April 2 that according to Pioneer Economy, the cryptocurrency assets of Kim Hong-soo, a councillor in Gangneung City, Gangwon Province, South Korea, have skyrocketed more than 1,000 times in seven years. In 2018, the local councillor purchased 195,555 OES tokens and 240,000 Donocle tokens at a unit price of 23 won (about $0.016), with a total investment of 10 million won (about $6,800). These digital assets, which are currently valued at 12.9 billion won (about $8.8 million), can be traded on the decentralized exchange Uniswap, but reports point out that their liquidity is extremely low and actual realization is difficult. Councillor Kim still holds these tokens purchased seven years ago, but the lack of market depth may affect his final profit realization.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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