An Australian crypto trader who traded almost $2 billion in a year still lives with his mother

Would you live with your parents if you made billions of dollars in cryptocurrencies?

A modest 25-year-old crypto trader from Australia, Darren Nguyen, decided to almost never change his position and still lives with his parents. According to Buidlbee, citing Australian Securities and Investments Commission (ASIC) filings, Darren’s crypto empire, PO Street Capital, generated massive after-tax earnings of $6 million for the fiscal year ending June 30, 2021. This was due to trading in cryptocurrencies totaling about $2 billion over a 12-month period.

Darren’s “small” business is registered at his parents’ home in Sydney. The crypto trader himself does not comment on his income, however, local publications have published public documents of the company. The 2021 numbers are significantly different from those of 2020, when the young crypto investor received about $400,000. The results documented by the auditors of PO Street Capital show a net profit increase of 1404.12% in 2021. In addition, Nguyen received $510 million in dividends from that year’s earnings.

In terms of expenses, ASIC’s public records show the repayment of a $760,000 loan to PO Street Capital. In June 2021, the trading company also had $2.5 million in short-term reserves.

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Darren Nguyen is now the focus of crypto investors seeking to learn his trading secrets. Compared to its 1000+% gain in 2021, according to data from CoinGecko, Bitcoin (BTC) and Ether (ETH) are up 296% and 865% each in the same time span. As the bear market continues, it is unclear how this affected PO Street Capital and the crypto trader’s 2022 bottom line. Therefore, many crypto enthusiasts are looking forward to the next ASIC report.

Earlier, analysts told how 2023 will be for the flagship cryptocurrency. However, their reports are as different as ever: some predict a rise in the value of bitcoin to a fantastic $250,000, others talk about a meteoric fall to $5,000.