The world’s largest cryptocurrency, Bitcoin (BTC), has witnessed massive growth throughout the years of its existence. The king coin started from nothing but has managed to rise beyond $100,000. This comes as a massive win for early investors and evangelists of BTC. For several years, the asset was associated with the dark web and labeled as a scam. But the king coin is now widely sought after by prominent personalities across the globe. The real question is if the asset has the potential to create millionaires.
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Bitcoin’s Growth Throughout The Years
Bitcoin has recorded a rise of more than 169358416.05% since its all-time low of $0.04865. This growth occurred throughout the past 15 years. BTC managed to surge all the way to a high of $109,114.88. This was achieved back on January 20. But at the time of writing, the king coin was trading at $81,946.74. This comes after a massive drop of 3.65% throughout the past 24 hours.
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$1,000 To A Million: Dream or Reality?
An investment of $1,000 will bring in 0.01221 BTC at the asset’s current price. According to calculations, in order for a small investment of $1,000 to reach $1 million will take a rather long time. It should be noted that this is possible only if Bitcoin reaches a high of $81.9 million. Unless there is severe adoption or hyperinflation, it will take decades for Bitcoin to reach $81.9 million. This is if it keeps growing at an aggressive rate of about 5–10 times each cycle, every 4 years.
CoinCodex revealed that in the year 2050, Bitcoin will reach a notable spike but not as close to the desired mark. It’s projected that Bitcoin will trade for between $1.45M and $2.10M in 2050. This comes with an average yearly price of $1.77M. Compared to the present rates, this may yield a potential return on investment of 2,460.93%.
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