The low value 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 concerning the cryptocurrency early. Primarily, the potential to show a small quantity into tens of millions is what has drawn numerous traders into Bitcoin and to the crypto business. So, this report takes a have a look at how a lot you’d’ve made when you spent $100 shopping for BTC 14 years in the past from in the present day.
Bitcoin Was Buying and selling At $0.05 14 Years In the past
Pete Rizzo, creator of the Bitcoin Historical past e-newsletter, shared an fascinating tidbit for BTC on the X (previously Twitter) platform. Based on Rizzo, 14 years in the past, the Bitcoin value was sitting at a mere $0.05 per coin, a value level which appears unimaginable taking a look at it from in the present day’s perspective.
FUN FACT: 14 years in the past in the present day, you might purchase 1 #Bitcoin for $0.05 ✨ pic.twitter.com/hfDXMxWrWn
— The Bitcoin Historian (@pete_rizzo_) August 3, 2024
This value 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 people who took benefit of it have continued to reap the advantages.
To place 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 client 2,000 BTC on the time. Since then, the BTC value has risen by greater than 125 million p.c, turning cents into tens of millions.
Which means that on the present BTC value of round $57,000, the two,000 BTC realized from spending $100 can be price $114 million. Which means that Bitcoin has outperformed each single inventory since its inception and has be confirmed to be a greater retailer of worth than conventional belongings akin to gold.
Additional Upside Nonetheless Anticipated For BTC
The present $114 million worth from a $100 funding in Bitcoin 14 years in the past comes at a time when the worth is struggling. Expectations are that the BTC value will finally 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 price $200 million.
Apparently, different distinguished figures akin to MicroStrategy’s Michael Saylor and ARK Make investments’s Cathie Wooden imagine that the BTC value will attain $1 million per coin. In such a case, 2,000 BTC can be price a whopping $2 billion.
Bitcoin’s progress over this time has solidified its place because the ‘digital gold.’ It’s at present touted as the perfect retailer of worth in opposition to the quickly rising inflation that continues to plague most elements of the world.
Featured picture created with Dall.E, chart from Tradingview.com