Compared to its current value, the price of a single Bitcoin (BTC) coin was just $13.30 in 2013. This is in stark contrast to the current value of the flagship digital asset.
Many investors resent not putting money into bitcoin in the “early days” and wonder how much money even $1 invested in bitcoin back then would be worth.
According to data calculated by Finbold, investors who bought $1 worth of bitcoin in January 2013, when the digital asset was trading at $13.30, would have seen their investment grow to $1,417 on Jan. 13, when the Price for one BTC was $18,881.
Bitcoin price January 2013. Source: In2013dollars
In particular, this is enough to buy an entire Ethereum (ETH) token at the current price of $1,407 for decentralized finance (DeFi). However, investors from January 2013 would have seen the greatest return on investment in November 2021 when BTC traded at an all-time high above $69,000.
$1 to bitcoins
Interestingly, in August of last year, Finbold reported that every 226th person on the planet owned at least $1 worth of bitcoin. The data showed that as of Aug. 26, about 35,257,206 addresses hold at least $1 worth of bitcoin, according to BitInfoCharts.com statistics.
This represented about 0.4% of the world’s population, meaning that every 226th person worldwide potentially owned at least $1 in bitcoin, based on the world’s population of 7,970,114,580 at the time.
As of Jan. 13, there are 100,000 fewer holders of $1 worth of bitcoin, bringing the total number of holders to 35,136,414. However, it is worth noting that in some cases a person can own more than one Bitcoin address. For example, an investor can have an address to more than one crypto wallet.
Support for BTC
Cryptocurrency advocates, in particular, advocate widespread use of cryptocurrencies and point to Bitcoin’s multiple advantages over traditional fiat currencies. These advantages include the convenience of bitcoin transactions, as well as the lower fees and faster transfer times. However, there is still a lot to be done before the asset can be used everywhere.
It is reasonable to conclude that the people holding $1 are retail investors as they make up the vast majority of the cryptocurrency market. Notably, the surge in retail investors is being driven in part by fear of missing out (FOMO), in addition to efforts to test the waters with cryptocurrency trading.
On the other hand, while a single unit of bitcoin is relatively expensive, holding just a dollar’s worth of the asset is consequently within the financial means of the vast majority of people, be it now or back in 2013.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.