Hold is really powerful strategy isn’t it?
Hold is indeed, Gold, your friend is a wise man and indeed, very lucky, your friend is a clear evidence that confirms that believe that intelligent people don't talk too much and they are the ones that mostly sit at the back of the class.
This story is similar to mine, and also happened in the same year, 2016, the only difference in the story is that my own friend lost his wallet seed phrase before he remembered he had an investment in crypto, coin i helped him buy in 2016, created a private wallet for him, handed over the seed phrase to him and asked him to keep it very safe, i helped him withdraw the coins i helped him buy from a centralized exchange to his private wallet, i later left the company where we worked together are started my own business in another state, he totally forgot he invested in crypto and in this year 2022, going through my phone contacts, i saw his phone number then i remembered him, i called him up to check up on him, by now, that coin i helped him buy when its price was around $0.02 is now trading above $6.7 usd, i thought to myself that this guy is already a millionaire if he has not sold the coins till now, i asked him and he said he has not sold it, I told him to check his wallet to see how much he has in there, he told me he has changed phone and does not have the wallet anymore, I asked him what about the seed phrase i wrote down for him and asked him to keep safely, he said he lost it a long time ago, that he cant remember where he kept it, i was so disappointed, his crypto investment can not be less than $33,000 right now , but he no longer have access to it because he lost the seed phrase of the wallet.