The low price of Bitcoin when it was launched and the way a lot the digital asset has grown through the years has been a continuing supply of remorse and awe for traders who came upon in regards to the cryptocurrency early. Mainly, the potential to show a small quantity into tens of millions is what has drawn numerous traders into Bitcoin and to the crypto industry. So, this report takes a have a look at how a lot you’d’ve made in case you spent $100 shopping for BTC 14 years in the past from at the moment.
Bitcoin Was Trading At $0.05 14 Years Ago
Pete Rizzo, creator of the Bitcoin History publication, shared an fascinating tidbit for BTC on the X (previously Twitter) platform. According to Rizzo, 14 years in the past, the Bitcoin value was sitting at a mere $0.05 per coin, a value level which appears unattainable taking a look at it from at the moment’s perspective.
FUN FACT: 14 years in the past at the moment, you would purchase 1 #Bitcoin for $0.05 ✨ pic.twitter.com/hfDXMxWrWn
— The Bitcoin Historian (@pete_rizzo_) August 3, 2024
This price of Bitcoin throughout its early days exhibits the worth conveyed by the cryptocurrency and the way a lot alternative was introduced to those that had the prospect to purchase. This introduced a once-in-a-lifetime alternative for generational wealth, and those that took benefit of it have continued to reap the advantages.
To put this in perspective, spending $100 on BTC 14 years in the past when it was buying and selling at simply $0.05 would’ve netted the customer 2,000 BTC on the time. Since then, the BTC price has risen by greater than 125 million %, turning cents into tens of millions.
This implies that on the present BTC value of round $57,000, the two,000 BTC realized from spending $100 can be value $114 million. This implies that Bitcoin has outperformed each single inventory since its inception and has be confirmed to be a greater retailer of worth than conventional property similar to gold.
Further Upside Still Expected For BTC
The present $114 million worth from a $100 funding in Bitcoin 14 years in the past comes at a time when the value is struggling. Expectations are that the BTC price will eventually cross $100,000 because the crypto market strikes into one other bull cycle. In such a case, the $100 from 14 years in the past can be value $200 million.
Interestingly, different distinguished figures similar to MicroStrategy’s Michael Saylor and ARK Invest’s Cathie Wood consider that the BTC value will attain $1 million per coin. In such a case, 2,000 BTC can be value a whopping $2 billion.
Bitcoin’s growth over this time has solidified its place because the ‘digital gold.’ It is presently touted as the perfect retailer of worth towards the quickly rising inflation that continues to plague most elements of the world.
Featured picture created with Dall.E, chart from Tradingview.com
