Exactly 14 years ago, a user on the legendary Bitcointalk forum asked whether or not it would be actually safe to invest $1,000 in the then-fledgling cryptocurrency.
Back then, the cryptocurrency was changing hands at just $0.10.
Pete Rizzo, a prominent Bitcoin historian, has estimated that a positive decision could have resulted in an eye-popping gain of $600 million.
As reported by U.Today, it has been more than 15 years since Bitcoin acquired its initial exchange rate on the New Liberty Standard Exchange. In early October 2009, it was worth just a fraction of a cent.
The initial price of the cryptocurrency was calculated based on the cost of electricity that was needed for running a computer. Notably, JPMorgan’s pricing model still calculates Bitcoin’s “intrinsic value” based on the cryptocurrency’s marginal cost of production.
Back in 2010, there was no demand for buying Bitcoin since early adopters could simply mine the cryptocurrency on their own personal computers, receiving a hefty block reward of 50 BTC.
This was the earliest stage of Bitcoin adoption when the cryptocurrency was rarely viewed as a viable investment opportunity.
It then went on to experience its first wave of speculative fervor in 2011, finally reaching $1 in February 2011. In June, the cryptocurrency soared to nearly $30 due to wider coverage in the mainstream media.
Bitcoin’s mainstream breakthrough only happened in 2017 when it briefly came close to the $20,000 mark. However, it also attracted a lot of coverage during its 2013 bull run.
As reported by U.Today, Bitcoin was recognized as the best asset of the 10s due to its stellar performance.
However, pundits of the likes of MicroStrategy CEO Michael Saylor are convinced that the largest cryptocurrency still has a lot of growth potential left.
