25-year-old bitcoin trader makes €6.6 million in profit, lives with his mother

A trading volume of 1.9 billion euros and a profit of 6.6 million euros, these are the results that a 25-year-old Australian managed to achieve with crypto trading in 2021. You’d think he’d pulled this off from a glass skyscraper somewhere in Sydney. But no, Darren Ngyuen still lives with his parents!

6.6 million euros bitcoin profit

The Australian Daily The Australian came across the striking profit through public documents. It shows that Nguyen has driven through almost 2 billion euros in trading volume in 2021 with his trading company PO Street Capital. Through successful trades, the young man made a profit of 6.6 million euros.

Of course, 2021 was a good year for most in crypto. Bitcoin (BTC) achieved its current all time high (ATH) of $69,000 and many altcoins also took off like rockets. Nguyen’s company therefore did a lot better in 2021 than the year before.

The public documents show that in 2020 his company still “only” made about 440,500 euros in profit. The following year, profits rose by an astronomical 1,404%.

Crypto trading with leverage probably

It seems impossible that someone 25 years old can represent a trading volume of several billions. But he probably succeeded by using one leverage to trade. Leverage trading, or trading with leverage, makes it possible to trade with a much larger position than you put in yourself.

You then trade partly with borrowed money. Although the possible profits that result from this can be much greater than when you trade with smaller positions, the risk that you run is also many times greater. In 2021, Nguyen was therefore especially lucky that the crypto market picked up enormously.

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If the Australian is a good trader, he will also have had a successful one in 2022. Whether this is really the case will have to be seen from the public documentation. That he will have to pay for the groceries now and then is one thing that is certain!

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