A $Ten, zero Investment in Bitcoin in two thousand eleven Would Be Worth $30 Million Dollars Today
A $Ten,000 Investment in Bitcoin in two thousand eleven Would Be Worth $30 Million Dollars Today
It is incredible to witness what happens in an unmanipulated and truly free market. The price is reflecting all of the tremendous infrastructure that is being built out within the Bitcoin community. Major news has been developing, and major players are coming in the Bitcoin space. Now, one of the “Big Four,” Ernst and Youthful, is accepting Bitcoin in Switzerland.
After months of development, the CME Group has officially launched its Bitcoin price index. Even Trump picked a Republican Bitcoin proponent, Congressman Mick Mulvaney, to be his Office of Management and Budget Chief.
The infrastructure build-out for Bitcoin is just unstoppable. On January one st , 2011, Bitcoin was $0.30. If you bought $Ten,000 worth of Bitcoin on that day and held it until now, your investment would be worth $30 million.
Who would have thought in 2010, or even 2011, that Bitcoin would do what we are eyeing it do?
Uncommonly do we actually get to practice true price discovery, but there is one currency that is benefiting from what the market truly thinks of it. And when it happens, it’s a beautiful thing. Bitcoin ALMOST reached $1,000 this week and is presently oscillating in the $900 range.
Since I became familiar with Bitcoin, I’ve been 100% enamored by it. It’s a revolutionary mystery and a fully fresh frontier that the powers that be have zero control over. When I very first discussed it, it wasn’t received well at all. It turned many people off, and that was understandable. It was very foreign, and most people (including I) slightly understood it.
I very first heard about Bitcoin when it was at $Ten a coin, and I then went on to profile it here at CrushTheStreet.com at $13.Since then, we’ve seen it spike up to its all-time high of $1,216.73 on November 17, 2013. It then proceeded to crash down into the $200 range, falling like a knife.
We are on the edge of witnessing Bitcoin retake $1,000, with more fundamentals than ever.
We’ve seen Bitcoin go straight up in dollar value since early 2015, coincidentally just as the dollar was going through a major bullish trend, which hasn’t stopped. Bitcoin’s epic run in the face of a strong dollar only goes to showcase how powerful its uptrend has truly been the last duo of years.
Governments around the world are in a state of switch, and Bitcoin has certainly been a safe haven for wealth preservation around the world – especially in areas of good economic unrest, such as South America, Europe, and China. It is a hedge against inflation, as only sixteen million bitcoins are in circulation, with only twenty one million ever to be released.
Similar to physical gold and silver, Bitcoin is true, private money, and it gives people a true alternative to the banking system, with the capability to transact instantly worldwide twenty four hours a day, seven days a week. The upside for Bitcoin could truly be unprecedented. It could truly gargle your mind if this indeed takes off.
Consider Bitcoin vs. the Dow in 2016:
The transaction volume for Bitcoin is also growing exponentially.
Having a talk with a regular guest here at CrushTheStreet.com, Bitcoin accomplished Trace Mayer, across the year, he has pointed out numerous times this year that offshore tax haven assets total approximately $30 trillion. And as we’ve seen with the Panama Papers, there is certainly request for offshore services. If just 1% of the $30 trillion comes in Bitcoin, we could see it spike into the millions of dollars.
Bitcoin’s market cap is presently at $15.Five billion. When you consider that Apple is sitting on close to $240 billion in their treasuries, it indeed puts into perspective how early in the game it is for this asset class.
For all of the naysayers out there that have mocked this trend, I have news for you: I believe it’s here to stay. For those who understand how much of a threat it is to the current financial system, it is incredible competition to central banker/government-issued fiat. If you missed my latest discussion with Trace Mayer, visit this link for an update with one of Bitcoin’s deepest insiders.