bitcoin's low price when it launched and how much the digital asset has grown over the years has been a constant source of regret and wonder for investors who discovered the cryptocurrency early. Mainly, the potential to turn a small amount into millions is what has attracted countless investors to bitcoin/bitcoin–crypto-verge-of-cannibalism-ikigai-cio/” rel=”nofollow noopener” target=”_blank”>bitcoin and the cryptocurrency industrySo this report looks at how much you would have made if you had spent $100 buying btc 14 years ago.
bitcoin was trading at $0.05 14 years ago
Pete Rizzo, author of the bitcoin History newsletter, shared an interesting fact about btc on the x platform (formerly twitter). According to Rizzo, 14 years ago, the price of bitcoin was just $0.05 per coin, a price that seems impossible when viewed from today's perspective.
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FUN FACT: 14 years ago, today you could buy 1 twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>#bitcoin for $0.05 image.twitter.com/hfDXMxWrWn
— The bitcoin Historian (@pete_rizzo_) twitter.com/pete_rizzo_/status/1819735037580886447?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>August 3, 2024
Thisbtc/bitcoin-price-falls-65k/” rel=”nofollow noopener” target=”_blank”> bitcoin Price During its early days, it shows the value that cryptocurrency conveyed and how many opportunities it presented to those who had the ability to purchase it. This presented a unique opportunity for generational wealth, and those who took advantage of it have continued to reap the benefits.
To put this into perspective, spending $100 on btc 14 years ago, when it was trading at just $0.05, would have netted the buyer 2000 btc at the time. Since then, bitcoin/vaneck-predicts-bitcoin-price-52-38-million/” rel=”nofollow noopener” target=”_blank”>The price of btc has increased by more than 125 million percent, turning pennies into millions.
This means that at the current btc price of around $57,000, the 2,000 btc obtained by spending $100 would be worth $114 million. This means that bitcoin has outperformed all stocks since its inception and has proven to be a better store of value than traditional assets like gold.
More increases are still expected for btc
The current value of $114 million from a $100 investment in bitcoin 14 years ago comes at a time when the price is struggling. Expectations are that bitcoin/bitcoin-price-will-reach-428000/” rel=”nofollow noopener” target=”_blank”>btc price will eventually surpass $100,000 As the cryptocurrency market moves into another bull cycle, in that case, $100 from 14 years ago would be worth $200 million.
Interestingly, other prominent figures such as bitcoin/michael-saylor-sets-audacious-49-million-bitcoin-price-target-details/” rel=”nofollow noopener” target=”_blank”>Michael Saylor of MicroStrategy
bitcoin’s growth during this time has cemented its position as the “digital gold.” It is currently being touted as the best store of value in the face of rapidly rising inflation that continues to plague much of the world.
Featured image created with Dall.E, chart from Tradingview.com
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