Bitcoin has been one of the best performing cryptocurrencies of the last decade. The crypto was introduced in 2008 and has gained in popularity and value since that time.
Here’s a look at how an investment in Bitcoin BTC/USD has done in the last 10 years.
Bitcoin History: A white paper released by Satoshi Nakamoto in 2008 outlined the creation of a currency created from proof-of-work mining.
The anonymous Bitcoin creator is credited with the creation of the most valuable cryptocurrency today.
Since 2009, over 18.8 million Bitcoin have been created through mining.
Investing $1,000 In Bitcoin: Over the years, Bitcoin has gone through many price milestones. The cryptocurrency hit the $1 mark for the first time in April 2011. Bitcoin would peak at $32 in June of 2011 before falling in value as most cryptocurrencies did.
On Sept. 25, 2011, Bitcoin traded at $5.39. A $1,000 investment in Bitcoin at the time could have bought 185.5288 coins.
That same $1,000 investment would be worth $7,915,611 today based on a current price of $43,366.37 per Bitcoin.
While not everyone was lucky enough to time their purchase of Bitcoin, many crypto experts believe the price of Bitcoin will continue to rise in value.
Ark Invest CEO Cathie Wood has a $500,000 price target on Bitcoin in the next five years. Based on Wood’s price target, a $1,000 investment in Bitcoin today would be worth $11,530 in five years.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.