Explosive Price Surge: $100 Bitcoin Bought in 2010 Now Worth $75 Mln
In a relatively short span of seven years, Bitcoin price surged from around $0.003 to a staggering $2,389.
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.
Bitcoin price hits new all-time high again for the second time this week at $2,392. Important to note, China made a strong comeback. pic.twitter.com/S8mceNDTqM— Joseph Young (@iamjosephyoung) May 24, 2017
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