The low price of Bitcoin when it was launched and the way a lot the digital asset has grown over time 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 hundreds of thousands 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 when you spent $100 shopping for BTC 14 years in the past from at present.
Bitcoin Was Buying and selling At $0.05 14 Years In the past
Pete Rizzo, writer of the Bitcoin Historical past publication, shared an fascinating tidbit for BTC on the X (previously Twitter) platform. In accordance with Rizzo, 14 years in the past, the Bitcoin worth was sitting at a mere $0.05 per coin, a worth level which appears unimaginable it from at present’s perspective.
FUN FACT: 14 years in the past at present, you might 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 reveals 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 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 customer 2,000 BTC on the time. Since then, the BTC price has risen by greater than 125 million p.c, turning cents into hundreds of thousands.
Which means that on the present BTC worth of round $57,000, the two,000 BTC realized from spending $100 can be value $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 property 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 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.
Apparently, different outstanding figures akin to MicroStrategy’s Michael Saylor and ARK Invest’s Cathie Wood imagine that the BTC worth 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’s at the moment touted as the very best retailer of worth towards the quickly rising inflation that continues to plague most components of the world.
Featured picture created with Dall.E, chart from Tradingview.com
