Bitcoin’s Remarkable Growth Over the Years
The world’s largest cryptocurrency, Bitcoin (BTC), has witnessed tremendous growth throughout its existence. The king coin started from nothing but managed to soar to $100,000. This is a significant victory for early investors and evangelists of BTC. For years, the asset was associated with the dark web and labeled a scam. However, the king coin is now widely celebrated by globally recognized figures. The real question is whether this asset has the potential to create millionaires.
Bitcoin Growth Over the Years
Source: Master of Watchers
With a historical low of $0.04865, Bitcoin’s growth rate has exceeded 169,358,416.05%. This growth has occurred over the past 15 years. BTC managed to [surge] to reach $109,114.88. This was achieved on January 20. However, at the time of writing, the trading price of the king coin is $81,946.74, following a significant decline of 3.65% in the past 24 hours.
Source: CoinMarketCap
$1,000 to $1 Million: Dream or Reality?
An investment of $1,000 would yield 0.01221 BTC at the current price of the asset. According to calculations, it would take a long time for a modest investment of $1,000 to reach $1 million. It should be noted that this would only be possible if Bitcoin were to reach a high price of $81.9 million. Unless there is severe adoption or hyperinflation, Bitcoin would need decades to reach $81.9 million. This would require an aggressive growth rate of approximately 5 to 10 times every four-year cycle.
Coincodex reveals that Bitcoin is expected to hit a notable peak in 2050, but it will not come close to the required trademark. It predicts that Bitcoin’s trading price in 2050 will range between $1.45 million and $2.1 billion, averaging at $1.77 million. Compared to the current rates, this could yield a potential investment return of 2,460.93%.
Source: COINCODEX
