Wang Chun, co-founder of cryptocurrency mining pool F2Pool, has revealed that he recently sold a condominium in Pattaya, Thailand, for just 7 Bitcoin, compared to the 2,900 BTC he originally paid for the property in 2015. Chun disclosed the transaction in a post on X on Tuesday, drawing widespread attention to the steep opportunity cost of spending early Bitcoin holdings on real estate. At the time of purchase, Bitcoin traded at roughly $270, placing the original transaction value at approximately $785,000.
The Naklua condo in North Pattaya was the first property Chun had ever owned. In his post, he wrote that he purchased it in 2015 and sold it recently for 7 BTC, framing the transaction as a personal milestone despite its financial implications. The property’s fiat value has since declined by roughly 40%, with today’s prices putting it at around $470,000.
The true scale of the opportunity cost becomes apparent when measured against Bitcoin’s subsequent price performance. According to CoinGecko, Bitcoin reached a peak above $126,000 in October 2025 and was trading at around $67,000 at the time of writing. At its peak, the original 2,900 BTC would have been worth approximately $365 million, representing a price increase of roughly 46,500% from Chun’s purchase price. Even at current levels, that holding would be valued at around $194 million.
The transaction also underscores Bitcoin’s outperformance relative to traditional asset classes over the past decade. Gold rose from approximately $1,200 per ounce in 2015 to above $4,500 today, a gain of around 275%. The S&P 500 delivered a cumulative return of roughly 284% over the same period. While both represent substantial gains, neither comes close to Bitcoin’s price appreciation during that time.
Chun’s experience is part of a broader pattern of crypto-era real estate decisions made by early industry participants. Some have documented the opposite approach, selling properties to invest entirely in Bitcoin. One early adopter, writing on a Bitcointalk forum, described selling a house for 648 BTC in 2014. Binance founder Changpeng Zhao, known as CZ, said in a February interview that he sold his Shanghai apartment for around $900,000 and used the proceeds to buy Bitcoin in stages at an average price of roughly $600 per coin.
Beyond the financial dimensions, Chun reflected positively on his time in Pattaya. He said that while living there he obtained a Saint Kitts and Nevis passport and a US visa, and also built and launched F2Pool’s Zcash mining pool during that period. He described the experience as his first time living abroad, saying it gave him the courage to explore more distant parts of the world.
Originally reported by CoinTelegraph.
