How to earn Early Bitcoin Adopters
Became Millionaires: From Rags to Riches
Were you fortunate to put $100 into Bitcoin back in 2011? If so, find out how much you can have right now and whether it makes sense to keep investing.
thanks Ines Helmut
June 15, 2022
during investing
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The Important Data
In 2011, 100 Bitcoins were only $100.
The same number of bitcoins are now worth $4.2 million.
You can still profit from Bitcoin.
Over ten years have passed since the first Bitcoin was created. The mystery creator of Bitcoin, Satoshi Nakamoto, designed it as a mechanism to circumvent established financial infrastructure and serve as a middleman for daily transactions.
In fact, individuals use the same economic theory for Bitcoin as they do for precious metals: miners can only turn a profit if the costs of the labour and equipment don't exceed the asset's market price.
Additionally, the Bitcoin algorithm caps the number of units that can ever be produced at 21 million. And some of the most brilliant brains have already predicted that by the year 2140, there will be no more Bitcoin.
As more individuals were interested in the idea of cryptocurrencies, they began to value Bitcoin on par with other precious metals like gold. Additionally, Bitcoin transactions' anonymity and confidentiality, made possible by blockchain technology, making them a great substitute for fiat currencies for financial transactions and even a potent defence against inflation.
What to anticipate going forward
From Poverty to Wealth:
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