It’s been over 13 years since bitcoin was introduced to the world. Some speculations were there about the digital currency’s practicality in its early days but, day by day it successfully overcame it. After the first commercial bitcoin transaction in 2010 Major effects on Bitcoin started gaining value and eventually it became an asset for high-value investment. Today, more than 82 million people are investing in bitcoin. Though, some people are still in doubt whether investing in bitcoin would be worth it or not.
When and how to know about Bitcoin investment?
It is obvious that investing all the life savings in the volatile bitcoin is not a good idea at all. But, investing a small amount can be profitable. You can always experiment with a little amount that you can afford to lose and if it turns out well you have the chance to invest more. Find out the various digital currency platforms that exist, and compare the advantages of each.
Let’s listen to two different stories about people becoming billionaires and millionaires by investing in bitcoin as well as regret not investing in bitcoin. Analyzing the two stories side by side can clear your idea about bitcoin investment.
What about some of the best stories about Bitcoin investment?
- Twins brothers’ story: Tyler and Cameron Winklevoss, two brothers who are known as the Winklevoss twins, were having an argument with Mark Zuckerberg on the creation of Facebook. For settlement of the argument, the two brothers were provided $65 million in cash and Facebook shares in 2008. The brothers started investing the money in bitcoin. Some reporters of that time stated that they bought each bitcoin in exchange for only $10. After five long years, in 2013, the bitcoin holding of the two brothers was worth $11 million which was quite a gain from their purchase. But, unfortunately, in that year bitcoin’s price dropped down from $180 to $80. It was shocking for them but the two brothers held their patience. They continue the investment by holding the coins. Ironically, in December 2017, bitcoin’s price suddenly increased and reached $11,700. As a result, the bitcoin holding of the brothers grew and it was worth $1.3 billion. The two brothers also invested in some other cryptos including ether and that was also worth $350 million at that time. Thus, the Winklevoss brothers became billionaires and millionaires by investing in bitcoin with the right strategy.
- The pizza story: This story is quite interesting but opposite to the first one. In 2010 a programmer in Florida namely Laszlo Hanyecz planned to buy pizzas with bitcoins. It was going to be the first commercial bitcoin transaction. As he planned, on May 22, 2010, he bought two large size pizzas with 10,000 bitcoins. The value of 10,000 bitcoin was around $41 back then. The trade was normal at that point in time. But, after some years, the whole story turned around. Bitcoin started gaining value after 2010 and in 2015 the value of 10,000 bitcoins became $2.4 million. In 2021 when bitcoin’s price was at its pick, the value went to $630 million. The day, 22 May became famous as Pizza day, but Laszlo Hanyecz still regrets it.
The case studies are important to give you a clear idea about the exponential growth, demand and supply in terms of Bitcoin. That’s why investors suggest good and reliable platforms to start your investment.
However, there are some other facts that indicate bitcoin investment is still better to do now than never:
- Bitcoin supply is limited to 21 million and only around 2 million are left to be created now. So, in the near future, the value of bitcoin will be increasing with the high demand.
- Bitcoin’s price has been low for the last two months but it is increasing currently. Also, predictors are saying the price can go as high as 100,000 in the future. So, it can be a good time to invest.
- Some of the e-commerce portals are now accepting Bitcoin to a large extent, and hence, exchange and crypto investment are now mutually dependent and have spread to various locations of the world.
It is essential to check the exchange, the kind of account that you can open, and the kind of benefits that you can get with the help of trained financial analysts and Bitcoin experts. If you really wish to master the trading world, you have to explore trustpedia.io/dictionary/s/stock-specific-risk/, where you will not only get info on trading news and articles, but also review of the crypto exchange platforms.