There are many in the crypto community who wish they were among the early adopters, the whales who hold millions in Bitcoin (BTC) or Ethereum (ETH) bought or mined years, if not more than a decade ago.
Indeed, the crypto market has changed so much that the famous Bitcoin pizza, bought all the way back in 2010, would now be worth nearly $600 million.
With the dramatic changes – and the hopes that the 2024 bull market will continue after the current lull – Finbold decided to examine the appreciation of one all-in BTC bet made 11 years ago.
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Sometime in 2013, a Reddit (NYSE: RDDT) user going under the name vz88fjj made a post explaining they put their entire life savings – approximately $50,000 worth – into Bitcoin.
How much would have the 2013 Bitcoin investment appreciated?
They explained they felt justified in making such a massive bet due to being young – and with enough time to make up their losses should it all crash and burn – and with the hopes it would, instead, appreciate in value.
Moreover, vz88fjj explained that they planned to hold on to BTC for 5 to 10 years. Given that the cryptocurrency traded between $20 and $800 through 2013, the bet is more likely than not to have paid off massively.
Had the user sold between 62 and 2,500 Bitcoins, they could have bought in 2013 for $50,000; after 5 years, they would have made from $187,500 to $25 million, and had they sold it after 10 years, they could have made as little as $1.43 million or as much as $105 million.
Finally, if vz88fjj decided to ‘diamond hand’ the investment, and, without a partial sale or losing the storage unit in a garbage heap – as some other unfortunate investors have – they could potentially have their 2013 life savings worth up to $150 million at press time on August 21.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
