•A 25-year-old Australian registered a million-dollar trading company at his parent’s house and successfully traded over $2 billion in Bitcoin and other cryptocurrencies.
•The trading desk, PO Street Capital, saw a $7 million profit in 2021 and a 1,400% profit when compared with 2020.
•The crypto bull run of late 2020 saw Bitcoin double in price, resulting in a $460,000 profit for the trading desk.
A 25-year-old from an Australian suburb recently made a name for himself in the crypto trading industry. His name is Darren Nguyen, and he has registered a million-dollar-worth trading company at his parents‘ house. The trading desk is called PO Street Capital, and it has successfully traded over $2 billion in Bitcoin and other cryptocurrencies in the past two years.
In 2021, PO Street Capital disclosed its performance with the Australian regulator. The company saw a $7 million profit and a 1,400% profit when compared with 2020, proving the success of Nguyen’s venture. This impressive feat was made possible, in part, due to the crypto bull run of late 2020.
As Bitcoin’s price revisited its previous all-time high of $20,000, the cryptocurrency went on a massive bull run. By February 2021, the Bitcoin price was trading at $30,000 before moving upward and reaching a new all-time high north of $60,000. This impressive surge in price saw other cryptocurrencies follow suit, with Ethereum rising from under $100 to an all-time high of $4,500.
As the cryptocurrency market soared, PO Street Capital was able to capitalize on the uptrend and score a $460,000 profit. This impressive sum shows the success of Nguyen’s business venture and the potential of cryptocurrencies as an asset class.
It is clear that PO Street Capital has been a major success story, and Darren Nguyen is a prime example of how the crypto industry can offer massive profits. Although the company has largely kept a low profile, this success story has now been made public and it serves as an inspiration to all aspiring crypto traders.