Can Bitcoin really make you a millionaire?

Over the course of its 15-year history, Bitcoin (CRYPTO: BTC) has made plenty of millionaires. In fact, data from the blockchain analytics platform Glassnode shows roughly 115,000 wallet addresses with a balance of more than $1 million today.

But what are the chances you could one day join this select group? For the patient and long-term investor, the answer might surprise you.

A pile of gold coins with the Bitcoin logo.

A quick glance at Bitcoin’s price over the years shows that the most explosive gains were made in its early days. From 2009 to 2012, the world’s original cryptocurrency jumped from less than a tenth of a penny to more than $5, an absurd 710,000% increase. With Bitcoin trading for around $65,000 today, an investment of just $75 when it was worth roughly $5 would have been good enough to make you a millionaire.


Source link

Check Also

Palantir’s Stock Is Soaring. Is Now the Time to Buy?

Palantir’s stock had a strong run-up in 2024. Palantir (PLTR 1.23%) has had a phenomenal …

Leave a Reply

Your email address will not be published. Required fields are marked *