The opportunities generated by the price of Bitcoin are many. With small investments in its beginnings the profitability is much higher even than Gold. If You’d Invested $0.32 In Bitcoin In 2010, You’d Have Your First Million Dollars Today
In just a decade of existence, Bitcoin has left several opportunities to make great fortunes for its believers. They maintain digital currency as an investment portfolio, proving to be far superior to traditional financial instruments such as U.S. Treasury bonds, for example.
To put this in context. When the first leading digital currency exchange, Bitcoinmarket.com, appeared on March 17, 2010. The starting price for BTC was about u$s 0.003.
If a user spent 32 cents by then, he would have about 106.66 BTC. Which at the time of writing would represent his first million dollars (u$s 1,010,081.93 to be exact).
This would represent a return -ROI- never seen in the history of financial opportunities. Not even with the Dutch tulips, with which Bitcoin is usually compared to make the similarity of financial bubbles.
Although this amount would certainly have been achieved much sooner for the bitcoiners who invested a little more than a dollar and kept faith with the new financial system. The question of “how rich you would be if you had acquired Bitcoin? In its early years of launch never ceases to amaze people.
In the event that that same user of 106.66 BTC had not sold until years later, his first million would have easily been reached in 2017. When the price of Bitcoin reached an all-time high.
Let’s remember that on December 17, 2017, the price of Bitcoin reached u$s 19,798, registering a historic high.
First million dollars cheaper than Gold
Despite detractors of digital currencies such as Goldman Sachs. Who recently in a leaked presentation among investors, pointed out that BTC was not a reliable instrument to invest in, the truth is that in only ten years, with ups and downs in its prices.Bitcoin has proven to be an excellent investment opportunity. And even more, recently, a refuge of superior value even to traditional Gold.
When in August 1971 President Richard Nixon of the United States decided to unilaterally eliminate the 25-year old Bretton Woods agreement to back every $35 for an ounce of gold, free floating made it even more difficult for traditional investors to make a fortune from the devaluation of the American currency.
In that sense, comparing the investment return capacity of traditional instruments such as Gold with Bitcoin. A traditional investor would currently need to accumulate a little more than 571 ounces to have his first million dollars.
BTC Vs Gold
To have achieved this before August 1971. When the fixed rate of the US dollar pair was 35. He would have had to spend about $19,988.57 at that time in order to obtain the 571 ounces.
Compared to Bitcoin, in its early stages. The amount is higher than the 32 cents.
And it was not only cheaper to get the first million dollars with Bitcoin, but also faster and more effective than Gold investors in its early stages of trading, as it took only seven years to reach the seven-figure return on investment at BTC, compared to 40 years for the precious metal.
Logically, these figures can be even higher, if the amount invested in the initial stages of BTC was more than u$s 1, as reflected in the Bitcointalk forum that boasts about the beginnings of Bitcoinmarket.com, where users had amounts far above 32 cents equivalent in Bitcoin.
But if you still think it’s too late to enter the cryptomarket, the opportunities don’t seem to be over yet. According to the flow models created by some expert digital coin traders, the price of Bitcoin could reach new historical records in the next 10 years.
According to Tim Drapper, the price of Bitcoin will reach a maximum of $250,000 in the next few years in a rather optimistic scenario, although other more conservative people mention the figure of $100,000 by the end of the period of fear and fatigue that digital currency is currently experiencing.
If it does, the ability to return seven-figure returns is quite likely in a time frame similar to the one analyzed, for those entering the market in the current price situation, Cointelegraph said.