“Who wants to be millionaire”: How much money could you have if you bought bitcoin at 2016, with 5,000 US$?

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“Who wants to be millionaire”: How much money could you have if you bought bitcoin at 2016, with 5,000 US$?

‘What an absurd question!’ This might be the first thought that crossed your head after you read the above statement. You might be thinking who in this world doesn’t want to have a lot of money, money might not buy you happiness but it sure does buy you a lot of good stuff and who doesn’t want to own a mansion, drive around the city in exotic cars and be free from working their 9 to 5 jobs, this is the dream life for almost all of us out there. Isn’t it? So is there a way you can change this dream into reality? Well, yes there are many ways but all of them require hard work, passion, persistence and patience.  Alongside these important factors of success, looking for and availing opportunities at the right time and that too correctly is very important. One such opportunity that knocked the doors of many is none other than bitcoins. The people that thought of this as a scam are now regretting their decision of not investing their money into bitcoins, while the ones that did welcomed this opportunity and invested their money in bitcoins are now richer than ever since bitcoin reached its all – time high with the price of 1 BTC reaching fifty thousand dollars. Well, if you are someone that has heard about it a lot on the news lately and is still confused about what it is and why its value is increasing, well worry not because here we will help you out with that.

What actually is Bitcoin?

A bitcoin is basically a crypto currency which means that it is an online currency that can be used to trade and buy stuff just like we do with paper money. Bitcoin is the biggest currency in the crypto currency market alongside with ethereum, lite coin, chain link etc. Unlike paper money which can be endlessly printed, Bitcoin is limited in quantity and only a limited quantity can be mined until it finishes. The value of bitcoin has had a rapid rise in recent years thus making even the people who invested minimum amounts ‘rich’ by giving such high returns. The best part about owning bitcoin is that it is not tied to any place or location and needs no banks. Today almost every big company is buying this digital currency and it is being traded more than ever. Recently a company named ‘Tesla’ bought $1.5 billion worth of bitcoin. 

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Why this rapid increase in bitcoins price?

The value of bitcoin has increased with leaps and bounds, while still experiencing small falls in its value sometimes, but only to bounce back stronger. Its growth has surprised many people out there and a lot of factors contribute towards it. Adoption of bitcoin by general public can be counted as one of the main reasons for the increase in its value, major companies and financial institutions now have started to buy bitcoins. Peoples distrust in economy is also a main reason for bitcoins growth, a lot of people have started to realize about how their wealth is not safe in banks so they are looking for places where their wealth in stored and will increase in value and bitcoin is one of them. The amount of supply of bitcoin is limited and only a certain amount can be mined until they are all finished, this limited supply is also one of the reasons of the increase in its value. Last but not the least media too plays an important role in the increase in price of bitcoin, the media generates hype about bitcoin which in turn increases its price.  

Money you would have had right now if you invested $5000 in 2016.

Bitcoin came into existence on 3rd January 2009 created by a man named ‘Satoshi Nakamoto’ the exact details of whom are not found. Bitcoin is known as the digital gold, mining it back when it was invented was pretty easy and bitcoin was cheap, the prices started to increase a bit when bitcoin was accepted as a payment form by different companies and the prices reached $23 in 2013. By 2014 and 2015 bigger companies such as dell and Microsoft started accepting bitcoin for their products and games, which resulted in a huge price boost and the prices went up to $313 per BTC. In the year 2016 the prices further increased and went up to $434. The prices of the bitcoin have continuously increased over the years with prices reaching the all – time high of fifty thousand dollars recently, that sure is a big amount and a huge return on investment for those that invested in the previous years. Imagine that you had $5000 dollars in savings in the year 2016 and you decided to invest all of them in bitcoin. You bought 10 bitcoins with the money, a lot of people told you that it’s a scam and tried to talk you out of it, but you stood by your decision. You didn’t trade the bitcoin for money or any other crypto and kept them in your wallet, after 4 years the value of one bitcoin equals to ‘fifty thousand dollars’ and now you are half a millionaire with only $5000 of investment and just four years of waiting. The rapid rise of bitcoin has shocked many people and professional analyst predicts that the value of bitcoin can go up to $500,000 by 2030, so if a person that invested $5000 in 2016 will have bitcoins worth $5 million in 2030.

The value of bitcoins has increased and according to analyst it will keep on increasing in the future, so now is the right time to take a step. Bitcoin has made many millionaire’s and you can be the next one to live your dream life.  



Disclaimer –The writer is not a financial adviser.
Past performance is not indicative of future results. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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