Bitcoin was one of the top performing cryptocurrencies of the past decade. The crypto was introduced in 2008 and has since grown in popularity and value.
Here’s a look at how to invest in Bitcoin (CRYPTO: BTC) has done for the past 10 years.
Bitcoin history: A white paper published by Satoshi Nakamoto in 2008 outlined the creation of a currency created from proof-of-work mining.
The anonymous Bitcoin creator is credited with creating the most valuable cryptocurrency today.
Since 2009, over 18.8 million Bitcoins have been mined.
Related Link: The World’s First Satoshi Nakamoto Statue Reveals, Here Is Where It Is And Why It Was Created
Investing $ 1,000 in Bitcoin: Bitcoin has seen many price milestones over the years. The cryptocurrency hit the $ 1 mark for the first time in April 2011. Bitcoin peaked at $ 32 in June 2011 before falling in value like most cryptocurrencies.
On September 25, 2011, Bitcoin was trading at $ 5.39. An investment of $ 1,000 in Bitcoin could have bought 185.5288 coins back then.
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 has been lucky enough to schedule their Bitcoin purchase, many crypto experts believe that Bitcoin’s value will continue to rise.
Ark Invest CEO Cathie Wood has a target price of $ 500,000 for Bitcoin over 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.