20:30If You Invested $1,000 in Bitcoin 10 Years Ago, Here's How Much You'd Have Today
If you think the stock market's rise has been impressive, wait until you see how Bitcoin has performed.
Bitcoin's rise has certainly been a remarkable one. In only 12 years, this cryptocurrency has gone from having no monetary value to surging above $60,000 for a brief period. And for investors who got in during the early days and have held on, the returns have been absolutely remarkable.
While we obviously can't go back in time, it can be fun to look at the amount of money made by those with the foresight to get in on the ground floor of successful investments.
So here's how much you would have if you had bought Bitcoin a decade ago, before most people had any idea what a cryptocurrency was.
The short answer
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It's important to mention that the last sentence is a big assumption. If you had been fortunate enough to dip into your savings and buy a bunch of Bitcoins at $3.50 each, would you have been tempted to sell when the price first spiked to $100? What about when it first broke through $1,000? Or the first time it eclipsed $10,000? Many investors who got in during the early years of Bitcoin ended up selling at least some of their positions on the way up.
A timeline of Bitcoin prices
Bitcoin's network came into existence in 2009 when the first block of Bitcoin was mined on Jan. 3. However, there was no monetary value or market for Bitcoin until at least 2010. In fact, in March 2010, an early adopter attempted to auction 10,000 Bitcoins for $50 (total), but couldn't find a buyer.
It's entirely possible that we'll see $100,000 Bitcoin in a matter of months or even sooner. But it's important to realize that $10,000 or less is also very possible. If you decide to buy Bitcoin at the current price level, do so with its volatile and unpredictable nature in mind.
Using the wrong broker could cost you serious money
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