Actually, that's not necessarily true. Given the fact that Bitcoin's price peaked at around $1000 in 2013 & Bitcoin is at $8000 now, you'd have made +700%. However, that's only a huge profit if you invested a huge amount of money. Want to be a millionaire? Well, then you should've invested $125k back then. I doubt a lot of people dared to take that risk.
Then of course the fact that the crash held Bitcoin's price far beneath $1000 for months to come (years actually)...
Besides, only the guys who held Bitcoin since then are in a huge profit. I like to use Bitcoin for what it's made for: Buying stuff with it & selling stuff for it.
The moronic speculative mentality most of the Bitcoin holders currently got is destroying Bitcoin's purpose & has turned it into a bubble. Sadly, that's not dumb FUD, but plain reality.
However, I agree that Zhao Dong is probably just another person who had some insane luck gaining so much money. Just like a couple tens of others who are now millionaires, just because they were lucky enough to hear about Bitcoin early on.
This is what I feel, and somewhat refreshing to see such an old hand crediting a fair share of success to pure luck. It's a sign of maturity to acknowledge that luck is sometimes what makes or breaks.
I wouldn't say all holders are bad for the market though, just the same way all sellers can't be bad. I definitely think we owe a lot to people who use and spend, the Lazslos who bought pizza, and the bct users who spend in the goods section. No makers, no takers, right? But holders are also those who advocate long term outlooks. Which seems forgotten by the goldfish memories of mainstream traders...
I take your point, but it seems as though he did have many funds available and rich as a term is also very subjective. For someone investing 5k back in 2014, having 40k now is still a very great return. The price was also as low as near $200 in 2014 and that would then be a 40x increase and that would make a lot of more moderate investors 'rich'.
I feel like in everything, not just cryptocurrencies or investing, you always need a big slice of luck if you are going to have great success.
Holding in itself isn't bad, but there has to be a utility behind bitcoin or it is not much more than a ponzi scheme, a combination of people holding and spending will work but if no one ever spends then bitcoin can not and will not progress.