Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln

Earlier this week, CNBC, one of the few mainstream media outlets that have been offering extensive coverage on Bitcoin over the past few months, revealed that $100 worth of Bitcoin purchased in 2010 is now worth $75 mln.

In a relatively short span of seven years, Bitcoin price surged from around $0.003 to a staggering $2,389. That is a 796,000x return as an investment. In fact, today, on May 24, Bitcoin price hit a new all-time high at $2,392 and is continuously demonstrating a rising demand from both casual and institutional investors.

The majority of mainstream media analysts suggest that Bitcoin price is completely speculative in the sense that investors are purchasing Bitcoin solely expecting a massive return in value. However, as Cointelegraph previously reported, prominent investors including GoldSilver.com founder Mike Maloney are encouraging investors to hold Bitcoin as a mandatory asset to hedge against inevitable global economic uncertainty and financial instabilit