Today, BTC has returned to $64-65k. Back in 2010 or early 2011, when BTC was less than $1, spending $5,000 could easily get you 5,000 BTC. Alternatively, in 2010, participating in mining would earn you 50 BTC for every block mined, easily accumulating 5,000 BTC after mining 100 blocks.
But where are those who owned 5,000 BTC back then? I have to say, most of them got off the ride early amidst the historical tides.
In 2010 or early 2011, Bitcoin (BTC) was less than $1. With $5,000, you could easily acquire 5,000 BTC, or through mining, earn 50 BTC for every block mined, accumulating 5,000 BTC after mining 100 blocks.
However, where are those who once owned 5,000 BTC now? Most people got off the ride early amidst the historical waves.
If you had 5,000 BTC in 2010, by June 2011, the price of Bitcoin skyrocketed to $30, turning your $5,000 into $150,000. Faced with a 30-fold increase, would you be tempted to sell? The vast majority cannot resist the temptation of profit and choose to cash out to improve their lives.
When Bitcoin rapidly fell to $20 after peaking, you sold 90% of your position, earning $90,000. You used this money to buy your dream BMW, retaining 10% of your position, which was 500 BTC.
The market quickly crashed, and by the end of 2011, Bitcoin dropped back to $2. You felt proud of your timely sale, relieved you didn’t miss out on the BMW. The 500 BTC is now only worth $1,000, which no longer matters to you. You have forgotten them in some corner.
As time goes by, by the end of 2013, the media reported Bitcoin had risen to $1,200. You dug out your private key from dusty memories and found that 500 BTC was still there. You quickly sold 450 BTC, making a profit of $450,000, and bought a summer vacation house in the suburbs.
By the end of 2014, Bitcoin dropped back to $200, and the remaining 50 BTC you had shrank in value to $10,000. You locked them away in a box.
By the end of 2017, Bitcoin surged again to nearly $20,000. You sold 45 BTC, making a profit of $800,000, and bought a new house.
By the end of 2018, Bitcoin dropped back to $3,000, and 5 BTC was only worth $15,000. You are grateful to Bitcoin for improving your life multiple times. You decided to keep the remaining 5 BTC as a memento.
In 2021, Bitcoin rose to $60,000 each. You decided to sell the remaining 4.5 BTC, earning $225,000 to pay for your child's college tuition. Finally, you kept 0.5 BTC as a tribute to Satoshi Nakamoto.
In 2024, Bitcoin returned to $60,000 and peaked at $75,000. The 5,000 BTC you once owned has now dwindled to 0.5 BTC, worth $32,000. If you had held onto those 5,000 BTC, they would now be worth about $320 million. But you don't regret it, as Bitcoin has brought you much wealth over the years.
Thinking back to the 5,000 BTC you once held, your thoughts often become blurred, unsure of how to feel. It feels like losing an opportunity, but gaining so much in return.
At the end of 2011, a self-proclaimed junior student asked how to invest 6,000 yuan. Sci-fi writer Chang Jia suggested: 'Buy Bitcoin, keep your wallet file safe, and then forget you ever had 6,000 yuan. Look back in five years.' If he had bought Bitcoin then, today those 200 BTC would be worth about $12.8 million, close to 100 million.
If you could time travel back to the early days of Bitcoin, would you be able to buy and hold firmly? Experiencing the panic of bear markets, the temptation of bull markets, the theft by hackers, the loss on platforms, the pessimism from experts, and the oppression from various countries, could you still hold steadfast? This is indeed as difficult as seeking scriptures from the West.
Some say bear markets incur losses; in fact, this is a fiat currency mindset. True Bitcoin believers will not be swayed by bull markets.
With 8 billion people in the world, there will ultimately only be 21 million BTC. The number of people who can own 1 BTC will not exceed three thousandths of the global population. Getting off too early is simply due to a limited vision.
The clouds are high, the river flows vast, the wind of Bitcoin is high and long.
