Hint: You'd be a millionaire.
Bitcoin has had quite the year so far in 2017, with the price up by 320% since Jan. 1. However, this type of move pales in comparison with the digital currency's climb in its early years. In fact, you might be shocked to discover just how much a few dollars' worth of bitcoin in the early days would be worth today.
The price history of bitcoin
Bitcoinbegan trading in 2010, as the first bitcoin exchange opened in March 2010 with a per-coin value of $0.003. The first real-world transaction took place in May 2010, when 10,000 bitcoins were exchanged for two pizzas in Jacksonville, Florida. Since that time, the price of bitcoin has been on quite the roller-coaster ride.
Image source: Getty Images.
- The first spike in the price of bitcoin occurred in July 2010, when the price jumped tenfold in a five-day period, from $0.008 to $0.08.
- Bitcoin first grew in value to $1.00 in early 2011.
- The first bitcoin "bubble" saw prices jump as high as $31 in July 2011, before crashing to a low of $2 later in the year.
- From December 2011 through April 2013, bitcoin experienced a major price surge, from $2 to a high of $266, before stabilizing in the $130 range.
- Bitcoin spiked once again in November 2013, topping out at $1,242.
- From December 2013 through much of 2014, the price of bitcoin stayed between $340 and $1,000.
- Bitcoin fell to a low of about $200 in March 2015, before beginning a long bull run, which is still continuing.
- On Aug. 1, 2017, bitcoin split into two digital currencies, bitcoin and "bitcoin cash." If you owned one bitcoin before the split, you owned one of each afterward.
- In early September 2017, bitcoin reached $5,000 for the first time. As I write in September 2017, one bitcoin is worth just over $3,722 and one "bitcoin cash" is worth about $445.
$10 worth of bitcoin in 2010
To illustrate just how impressive this rally has been, let's say you had the foresight (or good luck) to purchase $10 worth of bitcoin at the time the first bitcoin exchange opened in March 2010. Based on the $0.003 per-coin price at the time, your $10 would have purchased 3,333 bitcoins.
Now, using the $3,722 current value of a bitcoin and the $445 value of one bitcoin cash, your original investment would be worth a total of nearly $13.9 million. That translates to a 655% annualized gain over a roughly seven-year period.
What's more, keep in mind that someone paid 10,000 bitcoin, or three times this amount, for just two pizzas earlier that same year.
Where could bitcoin be heading
It's difficult to say where bitcoin could be headed, just because there are so many conflicting viewpoints from industry experts, as well as lots of variables that could move the price in one direction or another. I've written before that a bitcoin value of $1 million could certainly be possible if the right things happen over the coming years, but there's also a solid case to be made that bitcoin is worth significantly less than its current price, or could eventually be worth nothing at all.
One thing I do know is that bitcoin's performance over the next seven years isn't likely to be close to that of the previous seven. After all, if bitcoin continues to grow at a 665% annualized rate for another seven years, it would translate to a price of more than $4.6 billion per bitcoin. Even the most bullish cryptocurrency advocates realize this would be quite impossible.
FAQs
$10 worth of bitcoin in 2010
How much was 1 Bitcoin in dollars in 2010? ›
By 2010, the first recorded market price emerged, valuing Bitcoin at around $0.003 per coin. 2011 saw significant volatility, with the price surging to over $1 before dropping to around $0.30 mid-year, then reaching highs of $31 by year-end.
How much would $1 dollar in Bitcoin be worth today? ›
Current USD to BTC exchange rate
1 USD equals 0.000015 BTC. The current value of 1 United States Dollar is +0.11% against the exchange rate to BTC in the last 24 hours. The current Bitcoin market cap is $1.33T. Create a free Kraken account to instantly convert USD to BTC today.
What will $1000 of Bitcoin be worth in 2030? ›
If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000.
How much is 1 Bitcoin going to be worth in 10 years? ›
Bitcoin Overview
| Year | Minimum Price | Maximum Price |
|---|
| 2028 | $369,174.08 | $449,416.05 |
| 2029 | $525,671.43 | $640,702.92 |
| 2030 | $764,391.55 | $907,823.21 |
| 2031 | $1,077,841.21 | $1,309,556.03 |
8 more rows$10 worth of bitcoin in 2010
Based on the $0.003 per-coin price at the time, your $10 would have purchased 3,333 bitcoins. Now, using the $3,722 current value of a bitcoin and the $445 value of one bitcoin cash, your original investment would be worth a total of nearly $13.9 million.
How much is a Bitcoin worth in May 2010? ›
On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC. In five days, the price grew 1000%, rising from $0.008 to $0.08 for 1 bitcoin. Bitcoin takes parity with US dollar.
How to get Bitcoin for free? ›
Participate in Bitcoin Faucets: Bitcoin faucets are websites that offer small amounts of free Bitcoins for completing simple tasks, such as solving captchas or playing games. While the rewards are relatively small, they can add up over time, providing you with a steady stream of free Bitcoins.
How much is $1000 Bitcoin in US dollars? ›
How much does $100 Bitcoin sell for? ›
About Bitcoin
| BTC | USD |
|---|
| 100 BTC | 6,777,048.35 USD |
| 500 BTC | 33,885,241.76 USD |
| 1,000 BTC | 67,770,483.53 USD |
| 5,000 BTC | 338,852,417.66 USD |
7 more rowsFuture Outlook: Positive technical indicators and market sentiment suggest Bitcoin could reach $76,000 in May, with projections for continued gains potentially reaching up to $95,000 by the end of 2024.
How much will Bitcoin be worth in 2050? ›
By 2050, our long-term Bitcoin price prediction estimates that the maximum price could reach up to $11,94,927.3. With continuous developments and advancements in technology, it's possible that the average price of BTC Coin to be around $11,60,786.52.
How high will Bitcoin go in 2025? ›
A bold forecast for Bitcoin's future price: $150,000 could be on the horizon in 2025. Bitcoin (BTC 0.54%) is changing hands for approximately $43,100 per coin today. That's 37% below the all-time high of $68,790, recorded in November 2021 -- just before the inflation crisis besieged all sorts of financial markets.
Will Bitcoin skyrocket in 2024? ›
A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report.
How high can Bitcoin realistically go? ›
Ark's research suggests the cryptocurrency could soar 2,115% to almost $1.5 million by 2030 -- but Wood herself came out with an even more bullish estimate recently, saying Bitcoin could rocket 5,453% to $3.8 million.
How many people own 1 Bitcoin? ›
Summary: As of 2024, there are about 420 million cryptocurrency users globally. Of these, approximately 1.5 million individuals possess more than 1 Bitcoin, which is just 0.36% of all cryptocurrency users.
How much was 1 Bitcoin in 2009? ›
What Price Did Bitcoin Start At? Bitcoin was originally worth next to nothing. The transaction that first gave Bitcoin monetary value was in October 2009, when Finnish computer science student Martti Malmi, known online as Sirius, sold 5,050 coins for $5.02, giving each Bitcoin a value of $0.0009 each.
What year was Bitcoin worth $1? ›
In February of 2011, BTC reached $1.00 for the first time, achieving parity with the U.S. dollar. Months later, the price of BTC reached $10 and then quickly soared to $30 on the Mt. Gox exchange.
How much was 1 Bitcoin in 2013? ›
The year 2012 proved to be a generally uneventful year for Bitcoin, though it did increase by a few dollars; however, 2013 witnessed strong gains in price. Bitcoin began the year trading at $13, crossed $100 by April, then $200 by October.
How much was 1 Bitcoin in 2015? ›
Bitcoin USD (BTC-USD)
| Date | Open | Close Close price adjusted for splits. |
|---|
| Oct 1, 2015 | 236.00 | 237.55 |
| Sep 30, 2015 | 236.64 | 236.06 |
| Sep 29, 2015 | 239.02 | 236.69 |
| Sep 28, 2015 | 232.84 | 239.14 |
53 more rows
