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If you had invested USD 0.32 in Bitcoin in 2010, you would have your first million dollars today

May 29, 2020

In just a decade of existence, Bitcoin has left various ways of making big fortunes its believers, who hold the cryptocurrency as an investment portfolio, are proving superior to traditional financial instruments such as US government bonds.

To put the above in context: When the first exchange of the leading cryptocurrency appeared on March 17, 2010, Bitcoinmarket.comThe starting price for BTC was $ 0.003.

If a user were to spend 32 cents at this point, they would have approximately 106.66 BTC, which would be their first million dollars at the time of writing. ($ 1,002,666.67 to be exact).

If you had invested USD 0.32 in Bitcoin in 2010, you would have your first million dollars todayIf you had invested USD 0.32 in Bitcoin in 2010, you would have your first million dollars today

This would represent a return ROI that has never been seen in the history of financial opportunities, not even for the Dutch tulips, with which Bitcoin is often compared to create the similarity of financial bubbles.

Although this amount would surely have been reached much earlier for Bitcoiners, who invested just over a dollar and believed in the new financial system, the question was:How rich would you be if you bought Bitcoin? “ In the first years of its launch, it always surprised locals and strangers.

And it is so that, in the supposed case that the same user of 106.66 BTC only sold years later, would have easily reached its first million in 2017 when Bitcoin’s price reached its historic maximum recorded so far.

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Remember it On December 17, 2017, the price of Bitcoin reached USD 19,798 and reached the historic maximum “ATH” coincides with the sale of Bitcoin futures by CME.

First million cheaper than gold

Despite critics of cryptocurrencies like Goldman Sachs, who recently pointed out in a leaked presentation among investors that BTC was not a reliable tool for investment, the truth is that In just ten years, Bitcoin has proven to be an excellent investment opportunity with high and low pricesand more recently a refuge of value that is even superior to traditional gold.

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When US President Richard Nixon decided in August 1971 to unilaterally decree the 25-year Bretton Woods Agreement to approve all $ 35 for an ounce of gold, The free floating made it difficult for traditional investors to accumulate wealth through the devaluation of the American currency.

In this sense, the comparison of the investment return of traditional instruments such as gold with Bitcoin A traditional investor would currently have to accumulate just over 571 ounces to get his first million dollars.

To achieve this before August 1971, the date on which the fixed rate of the GOLD USD pair was 35, I should have spent about $ 19,988.57 by then.to get the 571 ounces.

Compared to Bitcoin, the amount in the initial phase is much higher than 32 cents. that people were playing in the initial BTC market to make their first million dollars.

And not only was it cheaper to get the first million dollars with Bitcoin, but since then it has also been faster and more effective than gold investors in their early stages of trading It only took seven years to get a seven year return on investment for BTC compared to 40 years for the precious metal.

Logically, these numbers can be even higher if the amount invested in the early stages of BTC was greater than $ 1, which is reflected in the Bitcointalk forum that showcases the beginnings of Bitcoinmarket.com, where users had amounts that were a lot were higher than 32 cents equivalent in Bitcoin.

Bright future

However, if you still think it’s too late to enter the crypto market, The possibilities don’t seem to end yet. According to the flow models created by some experienced cryptocurrency traders, Bitcoin’s price could hit new historical records in the next 10 years.

And according to Tim Drapper, The price of Bitcoin will reach a maximum of $ 250,000 in the coming years in a more optimistic scenario, although other more conservative people mention the $ 100,000 end of the period of anxiety and exhaustion the cryptocurrency is currently experiencing.

When this is achieved, the possibility of returning seven-digit returns in a similar period to that analyzed is very likely for those who are entering the market in the current price situation.