A reddit user recently asked the $800 question: who bought their bitcoins at this higher price, where are these coins now and how do they feel about it?
Cointelegraph has gathered the many responses – and they make for some fascinating reading indeed.
Users responded with details of the price they paid for bitcoins, what they subsequently did with them and what plans they have involving Bitcoin in the future. A lot of respondents also volunteered further information which colors the findings even more. At the time the thread was published on 30 March, the price of 1 BTC was fluctuating around US$453.
Spectrum of investment
Roughly half of commentators bought Bitcoin at $800 per unit or above, up to $1200 in November 2013. By contrast, just over 49.4% purchased at $799 or below, down to a minimum of $10. Additionally, 20 of these users purchased in both price ranges.
It is interesting that the high price of BTC late last year did not deter purchasing. This can be explained through Bitcoin’s rise to fame during this period, while being comparatively unknown in earlier times when its price was significantly lower.
Things become more interesting, however, when the factor of regret is added to the data. As the price of BTC has declined sharply in the intervening few months, one would expect lamentations across the board, especially from high-end purchases. However, of the 87 users surveyed, only 11 voiced specific regret at their decision to purchase, with many more (27) stating the opposite. “The highest I bought was at 850$, I don't regret it,” one writes, “I'm on the long run”.
Being ‘in it for the long-run’ is a sentiment echoed across those who responded. In fact, 73 out of 87 buyers say they have no intention to sell in the near future, instead opting to speculate on price changes as BTC remains highly volatile.