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If you bought 1$ of bitcoin that day, you would be a billionaire today
The exchange rate of Bitcoin crossed $64,800 for the first time on April 14 2021. Still fluctuating around. This means that if you own 1 bitcoin, you can now get 64 thousand dollars in exchange.
But the first exchange rate of Bitcoin was 0.0008 dollars. In other words, 1250 bitcoins could be obtained for one dollar. That, of course, happened in July 2010. After that the price has increased rapidly. It's not that prices haven't fallen. However, as the overall uptrend was maintained, the price is now hovering around $60,000.
Elon Musk, chief executive of Tesla, an electric car maker, is one of Bitcoin's biggest sponsors. He has also been actively involved in the rise of Bitcoin. "I'm an engineer, not an investor," said Elon Musk. However, he is occasionally seen discussing investment. Let us also forget our respective professions and take on the role of investors for a while. Especially when talking about numbers.
Not just investment ideas, but regrets. Let's calculate how many dollars you would have today if you had invested a thousand dollars in Bitcoin a year ago, on March 15, 2020.
According to Coindesk, the exchange rate of Bitcoin at 5 am local time on March 15 last year was 5,304.15 dollars. And now the price of Bitcoin is constantly fluctuating, but it is around 60 thousand dollars. So for the convenience of calculation, I am taking the current price of 60 thousand dollars.
In other words, the price of Bitcoin is 11.31 times more than a year ago. If he had bought a $1,000 bitcoin a year ago, it would now be worth $11,311. The profit in one year was exactly 10 thousand 311 dollars. And if you invest 10 thousand dollars, the profit would be 10 times.
As I said before, I will try to increase the regret. So let's compare the very first exchange rate, that is, with July 2010, when 1250 bitcoins were available for every US dollar. At that time, if you spent 1 thousand dollars, you could get 12 lakh 50 thousand bitcoins. Now, if 60,000$ could be found in every bitcoin, 8.5 billion could be found in 1.2 million bitcoins.
If you bought Bitcoin for only 13.34$ in July 2010, you would be the owner of 1 billion today. And if you want to be a billionaire in terms of money, if you spend 1 dollar that day, it would be more than today.
Tell me, where else can you get such a return on investment in this economic crisis of Corona? No one.. Trust me, nothing.