When Bitcoin Cost Just $0.05 in 2014
Pete Rizzo, who writes about the history of Bitcoin in the newsletter Bitcoin History, posted an intriguing piece about Bitcoin on Twitter. Rizzo mentioned that back in 2014, Bitcoin was priced at a mere $0.05 per coin, a value that looks absurd when you think about it from today's viewpoint.
This low figure for Bitcoin in its early stages highlights its worth and the enormous opportunities available to early investors. It was a once-in-a-lifetime chance for people to build generational wealth, and those who grabbed this opportunity have been benefiting from it ever since.
To put things in context, if you spent $100 on Bitcoin when you have just $0.05, you would have ended up with 2,000 Bitcoins. Since then, the value of Bitcoin has surged by over 125 times.
The current price of around $57,000, the 2,000 Bitcoins you'd have from spending $100 are now worth $114 million. This shows that Bitcoin has outperformed every single stock since its launch and has proven itself to be a superior asset class compared to traditional gold.
More Value is on the Horizon for BTC
The $114 million return from a $100 investment in Bitcoin 14 years ago comes as it's currently facing challenges. There are high expectations that the price of Bitcoin will eventually exceed $100,000 as the cryptocurrency market enters a new upswing. Under such circumstances, the $100 you spent back then would have grown to $200 million.
Looking ahead, there's potential for Bitcoin to appreciate even further. Other notable figures like Michael Saylor from MicroStrategy and Cathie Wood from ARK Invest think Bitcoin could climb as high as $1,000 per coin. In that scenario, the 2,000 Bitcoins would be valued at $2 billion.
Bitcoin’s impressive growth over these years has cemented its title as 'digital gold.' It is currently seen as the best option for storing wealth against the rapidly increasing inflation that is affecting much of the globe.
