Did I miss the bus?
When we look back, I realize how much bitcoin has increased in value against the dollar or fiat currency. The first bitcoin-to-U.S. dollar transaction occurred in 2009, where a transaction of 5050 BTC for $5, equivalent to 1 bitcoin costing $0,0099.
By 2010, bitcoin was more popular, 1 bitcoin then priced at $0,07 up 7000% after a year.
Over the past 11 years, the bitcoin price has increased by more than 700000% to the current $50,000, an increase of more than 63,600%/year. Looks like bitcoin is overvalued? Will Bitcoin continue to increase in price in the future? Did you miss the bus?
If you look back at the history in 2010 when bitcoin's popularity was at a low level, nobody cared about them, many considered it a scam, the value was misplaced from the start.
Source image: https://pixabay.com/illustrations/crypto-bitcoin-money-electronic-3569795/
One bitcoin is currently worth $50,000 in fiat currency, which is inflating at least 1% a month. But 1 bitcoin would still be just one bitcoin out of 21,000,000 bitcoins minted on the blockchain network. They will not change or increase over time or for any other reason.
In a world of 7 billion people, most people are still ignorant when it comes to bitcoin. A recent survey showed that only 6% of investors in the US own bitcoin and that number is less than 7% for the entire world of investors who have a high degree of access to bitcoin.
In 2010, Andrew bought 1000 bitcoins at $0.07 or $70 at the time. By 2014 the bitcoin price was $310 for one bitcoin, Andrew's investment is now worth $310,000. Since Andrew just bought a house with a need of $250,000, Andrew sold the number of 810 bitcoins to pay the landlord. By 2017, Andrew bought $200,000 in bitcoin, at that time the price of bitcoin was $11,000. Andrew now only bought 18 bitcoins, the total number of bitcoins that Andrew owns now is 208 bitcoins worth 2,288,000 so each bitcoin that Andrew buys costs an average of $995 for a bitcoin. This is 14,000 times greater than in 2009 when a bitcoin was only $0.07.
The bottom line is to shift all your financial views to bitcoin, it's never too late to buy a valuable asset that everyone will need like water and food in the future.
There are more than 7 billion people on Earth, but there will only be 21 million bitcoins. As more people are interested and bitcoin becomes more popular, there will be less bitcoin for beginners. The value of bitcoin will increase over time. So don't feel like you missed the bus.
Source image: https://pixabay.com/illustrations/bitcoin-investment-digital-network-6566979/