Who wouldn’t like it among the visionaries who invested in Bitcoin 10 years ago?
If you think the stock market boom was impressive, wait until you see Bitcoin (BTC) performance. The rise of BTC was certainly notable. In just 12 years, this cryptocurrency went from worthless money to rising above $ 60,000 for a brief period. And for investors who came in the first few days and stood their ground, the returns were absolutely remarkable.
While we obviously can’t go back in time, it can be fun to look at the amount of money made by those with the vision to enter the ground floor of successful investments.
So, here’s how much you would have had if you bought Bitcoin a decade ago, before most people had any idea what a cryptocurrency was.
The short answer
At the beginning of May 2011, Bitcoin was being traded for approximately $ 3.50 (this is not a typo). Therefore, $ 1,000 would have purchased approximately 286 bitcoins, not counting any transaction costs. On April 27, 2021, BTC was traded for $ 54,680. This means that 286 bitcoins would be worth approximately $ 15.6 million at the end of April this year.
A Bitcoin price timeline
Talking about the major milestones that Bitcoin has achieved over the years, here is a quick history of its prices.
The Bitcoin network started to exist in 2009, when the first block of Bitcoin was extracted on January 3. However, there was no monetary or market value for Bitcoin until at least 2010. In fact, in March 2010, one of the first to adopt tried to auction off 10,000 bitcoins for $ 50 (total), but it was not possible to find a buyer.
The first real-world Bitcoin transaction took place in May 2010, where b0,000 bitcoins were used to pay for two pizzas, valuing each BTC at a fraction of a cent. Today, the value of that amount of Bitcoin would be almost $ 550 million.
Bitcoin first crossed the $ 1.00 threshold in February 2011, just over a decade ago.
The first big increase in Bitcoin’s popularity occurred in 2013, with prices reaching $ 1,242 in November of that year, before backing down.
The second big increase occurred in 2017. The cryptocurrency broke its previous 2013 high of $ 1,242 in March, reaching $ 19,783 in December of that year, before backing down.
After 2017, interest in Bitcoin fell for a considerable period. The price reached the low value of $ 3,300 in December 2018 and did not reach its 2017 high again until November 2020.
The BTC first crossed the $ 50,000 threshold in February 2021 and briefly broke the $ 60,000 threshold in April.
Will a $ 100,000 BTC unit happen soon?
If there is an important conclusion, it is that the digital currency has been very unpredictable. Bitcoin saw two main peaks, not to mention the current high. And each time, he stepped back considerably and took several years to eclipse the previous maxims.
It is quite possible that we will see BTC worth $ 100,000 in a matter of months or even earlier. But it is important to realize that $ 10,000 or less is also very possible. If you decide to buy Bitcoin at the current price level, do so with your volatile and unpredictable nature in mind.
Text adapted from: TMF