We've all made some bad investments over the years—a bum stock, a baseball card that goes nowhere, a Ponzi scheme or two—but you've probably never done anything as bad as this:
Crypto investor Sina Estavi bought an NFT of Twitter cofounder Jack Dorsey's first tweet ever for $2.9 million in March of 2021. And after a year of constant hype for NFTs, most people would naturally assume Estavi might be able to turn a nice profit on his investment by now. But most people would be wrong.
Here's the image of this masterpiece:
You can feel the anticipation, right? He's gonna fetch a ton!
Estavi put the NFT up for auction last week, and bidding ended on Wednesday. The highest bid? Roughly $277 worth of the cryptocurrency Ethereum, at current prices, according to crypto news outlet CoinDesk.
You can picture poor Mr. Estavi on the phone with the auction house when they give him the final bid:
Thankfully the man has a little wiggle room here:
The crypto businessman has a couple of days to decide whether he wants to accept just $277 for his multi-million dollar investment. But we'd guess he's just going to keep it.
Yeah, we'd guess too! We'd guess Estavi is going to give that NFT the ol' safe-behind-the-Biff-painting treatment:
If he leaves it in there long enough it might very well be worth $500 some day!
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