As a general rule of thumb, consistently investing in the stock market (in a diversified manner) has been the best way to build massive wealth. however, for a lucky (or very smart) few, an early investment in the world’s most well-known cryptocurrency, bitcoin, has seen them generate significant returns.
Stories of people who have seen their net worth explode from an early bitcoin (btc) investment are certainly not hard to find ; they’re plastered all over the internet: propelling crypto-related fomo to all-time new ones. -high.
Reading: Bitcoin price in 2010
In fact, bitcoin is now officially the best performing investment option of the last decade, eclipsing all other high-growth assets by a factor of over 1000%. So how much money would you have today if you had invested just $10 US dollars ($14 AUD) in bitcoin when it first hit the market?
hint… it’s a lot.
This is what $10 is worth now in bitcoins on the first day
bitcoin first became available for public purchase in July 2010 at a price of $0.0008 usd ($0.0011 aud) per bitcoin. that’s right, you could buy an entire bitcoin for less than a tenth of a penny. now, if we exclude transaction fees, a measly $10 investment on your first day would have netted you a total of 12,500 bitcoin.
at 3:00 p.m. m. As of Wednesday, May 4, current writing time, a single bitcoin was trading for $38,276 usd ($53,792 aud). that $10 investment held for approximately 11 years and 10 months has earned 4,784,500,000% and would now be worth $478,045,000 ($672,786,191 aud).
That’s right, if you had invested just $10 in bitcoin on day one (and somehow not sold it), you would have a fortune of almost $500 million.
Now, if you were a real risk-taker and you’d decided to invest $1000 on day one – provided you had the hardest “diamond hands” of all time — you’d be the 26th richest person in the world, flexing a casual $47.8 billion ($67.3 billion AUD) net-worth, ranked just behind Chinese tech billionaire Zhang Yiming. What’s even more incredible is, if you’d sold your initial $1000 worth of Bitcoin when it reached its all-time high of $69,044 ($97,114 AUD) on November 10 last year, you would have been worth $86.3 billion ($121.5 billion AUD) officially securing your place as the 11th richest person in the world.
$10 can be very useful (if you forget)
While it’s always good to imagine ourselves, with the benefit of hindsight, as a hapless potential billionaire, bitcoin’s rise was not obvious. in fact, its meteoric rise was completely unpredictable, except for a very select few. It’s also worth noting that there is literally no way a normal person wouldn’t have sold their bitcoin when it was already up 100,000% in 2016. The only way most people would have seen those exponential returns is if they would have completely forgotten about them, only to remember them years later.
With all of this in mind, it might not be the worst investment strategy to occasionally spend $10 on the next crazy new tech you hear about and then close your eyes and forget you ever did. assets similar to this are likely to emerge in the future, so who knows where it might end up? Disclaimer: The information in this article is intended to be general in nature and is not personal advice on financial products. it does not take into account your goals, financial situation or needs.
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