How much you'd have made if you bought $100 of Bitcoin ten years ago as currency reaches record high
If only we had a time machine that could go back a decade and help us pull off our own Back to the Future.
Sadly, real-life DeLorean's can't whisk you through time when you hit 88 mph, meaning we're stuck living in a world of what ifs.
As the price of Bitcoin hits a record high, people are now realizing that they should've invested in cryptocurrency years ago.
Unlike the fad of NFTs appearing and almost disappearing overnight, Bitcoin is a trend that that's still on the rise.
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With the return of pro-crypto Donald Trump to the White House, prices have soared as traders bet on his victory in the 2024 American election.
The Guardian reports that Trump's pro-Bitcoin stance might've helped push prices through the roof. Russ Mould, an analyst at AJ Bell, warned: "The price of Bitcoin has closely followed Trump’s position in the polls and on betting markets."
Bell added that investors are "potentially taking the view that a Republican victory would lead to a surge in demand for the digital currency."
During his original run at the White House, Trump branded cryptocurrency as a 'scam,' but since then, he's done a full 180 and even launched his own platform called World Liberty Financial.
Nigel Green of financial advisor deVere chimed in: "A Trump victory could be the catalyst that pushes the world’s first and largest cryptocurrency into uncharted territory.
"His return to office would likely have a renewed emphasis on deregulation, tax incentives and economic policies favourable to alternative investments, such as Bitcoin."
Timing couldn't be better for billionaire Elon Musk, who Trump is poised to install as the head of a commission into government spending and cutting waste.
This comes as Trump has vowed to make America the 'bitcoin and cryptocurrency capital of the world.' It's no coincidence that Musk himself is a huge advocate of Bitcoin.
But, just how much would your Bitcoin be worth if you invested back in the day?
While it's too late now, you might be shocked to learn how much just $100 of Bitcoin invested in 2014 would be worth in 2024.
Using the Bitcoin Calendar, $100 of 2014 Bitcoin would now be worth $21,205.15. That's a tidy profit of $21,105.15.
If you'd wanted to splash the cash a bit more an invested $1,000 worth of Bitcoin a decade a go, you'd now be sitting on a nest egg of $212,051.46. Not too shabby, really.
There are still questions about whether the Bitcoin bubble could burst, while World Liberty Financial got off to a rocky start when it launched in early October and found most of its available tokens going without a buyer.
Still, Trump is all-in on crypto for now, even being the first former president to use Bitcoin in a purchase. What did he buy with his BTC? Of course it was a hamburger.