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