Should you buy Bitcoin in 2024?
How much money could you make if you bought Bitcoin 10 years ago, and is it worth investing $1000 in Bitcoin right now?
Over the past decade, the S&P 500 Index and Nasdaq Composite Index have returned 231% and 335%, respectively, including dividends (as of April 15). This shows that it has been a fantastic time for investors in the stock market.
Chart of the S&P 500 index from 1970 to March 2023.
However, Bitcoin has completely erased these gains. If you had invested $1,000 in the world's oldest and most valuable cryptocurrency in April 2013, your balance right now would be approximately $121,000. This monster 12,000% gain is truly staggering.
There may be no other asset that has performed better than Bitcoin over the past 10 years. It's been an impressive run for this leading digital asset. Before we assess where it might go in the future, it is important to understand the entire history of Bitcoin.
