There are always some stories in the cryptocurrency world that are quite shocking when you hear them often. The person I'm talking about today is commonly referred to as 'Teacher Northern' in the circle, and his early ID was 'Innocent Blockchain'. This person has had extremely accurate insights as well as a series of operations that left people shaking their heads, ultimately becoming a 'classic case' in the mouths of many.
Let's first talk about what he missed. Based on the current price of BNB, the 2 million BNB he once held had a market value of about 14 billion RMB. What does this number mean? There are only a few individuals in the country who can casually take out that much cash. There's also a famous 'Pizza Day' story in the cryptocurrency world; back then, those 10,000 Bitcoins would be worth 6.4 billion now, and it has often been joked about. But the 14 billion that slipped past Teacher Northern is really not the highest.
Time rewinds to 2017. At that time, Binance hadn't even finalized its official white paper, and founder CZ was looking for supporters everywhere. The market ICO projects were a mess, and many people felt they were unreliable. However, Teacher Bei directly took out 2 million RMB at that time, exchanged it for 2 million BNB, and became one of Binance's very early shareholders. Having the courage to place a heavy bet on a "semi-finished product" at that stage indeed earned him a lot of attention in the circle. At that time, when he shared his views, he also attracted a group of fans.
The turning point happened in August 2017. Domestic regulation took action to rectify ICOs and trading platforms, and market panic spread. Teacher Bei couldn’t hold on this time; he sold all 2 million BNB he had. The cash he obtained was an eight-digit number, roughly tens of millions of RMB. At that time, this was already at the level of financial freedom; he probably thought he successfully escaped the peak and avoided the risk.
But later, everyone knows how things developed. Binance made it through and has come all the way to today. Those BNB he sold, if kept until now, would amount to the 14 billion mentioned earlier.
The story isn't over yet. Holding several tens of millions in cash, Teacher Bei's operations began to take a turn. In 2018, the EOS contract was hyped up by the market; he invested all the cash he realized into it and added high leverage. As a result, the price of EOS fluctuated violently and plummeted; his position was completely blown. Not only did several tens of millions disappear instantly, but he also fell into debt due to leverage, suddenly transforming from a near-rich person into a state of indebtedness.
Looking back, this person is actually quite interesting. When others couldn’t understand, he could stake 2 million on an early project, proving that his insight and courage far exceeded that of most people at that time. But on the other hand, during policy fluctuations, he sold everything out of fear, and later, during market frenzy, he went All In on high-leverage contracts out of greed. These two instances of mental imbalance ultimately severed his connection with billions of wealth.
Binance founder CZ has a saying, "If you can't hold, you won't be rich." Teacher Bei's story is almost a complete annotation of this saying. Discovering opportunities requires vision, but seizing opportunities may test more complex aspects—tolerance for volatility, restraint against temptation, and choices at critical junctures. His experience is less about bad luck and more about the natural result of a series of compounded decisions. In a highly volatile market, every action lays a footnote for the final outcome.$BNB @CZ
