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Ever had a case where you wished you had bought something in the past that eventually went up significantly in value? Perhaps a plot in a low-value district which is now worth ten times more?
Does that ring a bell? Well, here are some amazing stories about people who bought Bitcoins for fun, and due to the enormous rise of Bitcoin in the past few years, have now officially made millionaires status.
Monday marked the seventh anniversary of what is said to be the first recorded instance of Bitcoins being used in a real-world transaction. Over the course of seven years, Bitcoin’s value has multiplied 879,999 times. If an investor had decided to spend five dollars on about 2,000 Bitcoins back then, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 Bitcoins, the investor would be worth at least $1.1 billion today.
So, what do you need to do if you want to invest a small amount in Bitcoin?
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Bloomberg interview with Bill Gates. “Bitcoin is the answer.”
At first, Bitcoin didn’t really catch on, and it was solely the domain of the early adopters. There were very few businesses which accepted bitcoin as a payment method, and it was something which was almost frowned upon by most governments. As more and more businesses and governments accepted bitcoin, it gradually went up in value, more and more people were starting to embrace the idea of a decentralized currency, and as more people jumped on board, the price began to rise. Since the beginning of the year 2017, the value of Bitcoin spiked after gaining legitimacy in countries like Japan.
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“Bitcoin is better than currency.” – Bill Gates
The main advantage of bitcoin is that it is decentralized – meaning, there’s no central bank or government which controls it. This freedom is the main reason why Investors have come to see the currency as something of a safe-haven-asset in a problematic geopolitical world — and there’s been plenty of that in recent months in Europe, Russia, Brazil and the United States. There is also an additional advantage in Bitcoin – there is a mathematical limitation to the number of Bitcoins that can be created, which means – no printing money, so the rules of economy work perfectly. Where there is a limited supply of something, and the demand goes up, the price goes up along with it.
Bitcoin Trading (Germany)
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