Cryptocurrency – My First Investment

KATWIJK, NETHERLANDS – JANUARY 4: In this photo illustration, visual representations of the digital cryptocurrency, Bitcoin are arranged on January 4, 2021 in Katwijk, Netherlands. (Photo by Yuriko Nakao/Getty Images)

I made my first Cryptocurrency earlier this week, 5 days ago in fact on January 5, 2021. I created an account on one of the platforms back in May 2020 but didn’t pull the trigger. Had I made my current $150 contribution here is where I would have fared.
I have an itemized breakout below.
BTC: 226.91
ETH: 258.74
LTC: 185.28
Total: $670.93

This would be the equivalent of a 347% return on my initial paltry investment. This is play money. If I lose it all it isn’t the end of the world. Still SMH over that one.

Current Value of $50 Ethereum (ETH) from May 5, 2020
Current Value of $50 Litecoin (LTC) from May 5, 2020

For some added backstory, one of my friends in 2009 told my about Bitcoin. I didn’t think it was going to become anything big and honestly didn’t understand it. I think he bought about $100 at the time. Not sure if he sold it. I had difficulty finding prices back that far. However indexing against 2010 prices BTC was at $0.39 per coin. $100 USD would have had the purchasing power of 256 coins. Tying that into prices today… One bitcoin is valued at $38,404.40. That would be worth $9,831,526.40 assuming your investment didn’t get stolen.
Found this cute little chart on bitcoin.com – The Reported Number of Stolen BTC Drops by 92% as ‘Bitcoin Security Appears to Be Improving’

% of Bitcoin reported stolen by year
BTC Historical Prices All-Time

It’s also important to note that there are no real underlying assets behind these cryptocurrencies. No government backing it, not tied to any company earnings, not tied to a tangible commodity. It also dropped to $3,690.91 in January 2019 from previous $19,167 in December 2017. This sucker’s super volatile. There will be a selloff at some point again I predict. Will it be tomorrow, 6 or 12 months ago who really knows?

I’m still investing anyway. Open to donations if anyone wants to send me money. I haven’t earned $0.01 from this blog since launching in April 2012. Same with YouTube. 😛
BTC: 37oTXEZgvNsQADdB5WKfLaHntNsR6SLLrm
ETH: 0x7cC6c462B7225228f63379fC010c60A1B77D5f98
LTC: MU7is12jrh2ES2hA1EZRqSJmtPq3UVMEpF

Cheers to a new year, new investments, and us hitting more of our life goals!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s