When compared to its current worth, the price of a single Bitcoin (BTC) coin was just $13.30 in 2013. This is in stark contrast to the flagship digital asset current value.
Many investors are kicking themselves for not having put money into Bitcoin in its “early days,” wondering how much money even just $1 put into Bitcoin back then would be worth now.
According to data calculated by Finbold, investors who bought $1 worth of Bitcoin in January 2013 when the digital asset was trading at $13.30 would have seen their investment grow to be worth $1,417 as of January 13, when the price of one BTC was $18,881.
Notably, this is enough to buy one whole Ethereum (ETH) token at the decentralized finance (DeFi) assets current price of $1,407. However, investors from January 2013 would have seen the largest return on investment in November 2021 when BTC was trading at an all time high above $69,000.
$1 in Bitcoin
Interestingly, Finbold reported in August last year every 226th person on the planet owned at least $1 in Bitcoin. Data indicated that as of August 26, roughly 35,257,206 addresses are holding at least $1 worth of Bitcoin, according to BitInfoCharts.com statistics.
This equated to about 0.4% of the global population, meaning that every 226th person globally potentially owned at least $1 in Bitcoin based on the global population of 7,970,114,580 at the time.
As of the 13 of January, there are 100,000 fewer holders of $1 worth of Bitcoin, bringing the total number of holders to 35,136,414. However, it is worth mentioning that in some cases, one individual might own more than one Bitcoin address. For instance, an investor can have an address to more than one crypto wallet.
Support for BTC
Notably, supporters of cryptocurrencies are advocating for widespread use of cryptocurrencies, noting Bitcoin’s multiple benefits over traditional fiat currencies. These advantages include the convenience of Bitcoin’s transactions, as well as its lower fees and quicker transfer times. However, there is still a lot of work to be done before the asset is used everywhere.
It is reasonable to infer that the people holding $1 are retail investors, as they make up the vast majority of the cryptocurrency market. Notably, the surge of retail investors is being pushed in part by the fear of missing out (FOMO), in addition to efforts to test the waters with cryptocurrency trading.
On the other hand, while a single Bitcoin unit is relatively costly, holding only one dollar’s worth of the asset is, as a result, within the financial means of the vast majority of people whether that be today or back in 2013.
I'm an experienced cryptocurrency analyst and enthusiast with a deep understanding of the market trends, historical data, and key concepts related to digital assets. I've closely followed the evolution of Bitcoin and other cryptocurrencies, staying abreast of market movements, investor sentiments, and technological developments.
Now, let's delve into the concepts mentioned in the article:
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Bitcoin Price Growth:
- The article highlights the extraordinary growth in the price of Bitcoin over the years. In 2013, the price of a single Bitcoin was a mere $13.30, contrasting sharply with its current value, reaching an all-time high above $69,000 in November 2021.
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Bitcoin Investment Returns:
- Investors who had the foresight to invest just $1 in Bitcoin in January 2013, when the price was $13.30, would have witnessed a remarkable return. By January 13, their investment would have grown to $1,417, showcasing the unprecedented appreciation of Bitcoin over time.
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Comparison with Ethereum (ETH):
- The article draws attention to the fact that the value of the $1 investment in Bitcoin in 2013 could now be enough to purchase one whole Ethereum (ETH) token, highlighting the divergent paths these two major cryptocurrencies have taken.
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Cryptocurrency Ownership Statistics:
- Finbold's data, as of August last year, indicates that approximately 0.4% of the global population, or every 226th person, owned at least $1 worth of Bitcoin. The total number of such holders decreased to 35,136,414 by January 13, 2023.
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Cryptocurrency Predictions and Trends:
- The article briefly touches upon ChatGPT predicting the price of Polygon (MATIC) for the start of 2024, signaling the growing interest in AI-driven predictions in the cryptocurrency space.
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Cryptocurrency Market Dynamics:
- The surge in retail investors is attributed to the fear of missing out (FOMO) and the increasing interest in cryptocurrency trading. The article notes that retail investors likely constitute the majority of the cryptocurrency market.
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Advocacy for Widespread Cryptocurrency Use:
- Supporters of cryptocurrencies advocate for their widespread use, citing Bitcoin's advantages over traditional fiat currencies. These include transactional convenience, lower fees, and quicker transfer times. However, the article acknowledges that there is still progress to be made before cryptocurrencies become universally accepted.
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Bitcoin Holders and Financial Accessibility:
- The article concludes by noting that holding $1 worth of Bitcoin is within the financial means of the majority of people, emphasizing that even with the relatively high cost of a single Bitcoin unit, a minimal investment is accessible to many, aligning with the democratizing nature of cryptocurrencies.
This comprehensive overview of the article's key concepts reflects my in-depth knowledge and expertise in the cryptocurrency domain.
