Bitcoin BTC/USD captured the public and media’s imagination in 2017 when it soared from $1000 at the beginning of the year to $20,000 by December.
The apex cryptocurrency had been less than a decade old in 2017. The surge in the cryptocurrency took place post halving just like it had done in 2013.
See Also: Best USDC Interest Rates
The Bitcoin Investment: In 2017, Bitcoin touched the peak price of $20,089 on Dec. 17, according to data from CoinMarketCap.
If an investor had jumped on the Bitcoin bandwagon on that day with a $1000 investment, here’s how much they would have as Bitcoin traded nearly 14% higher over 24-hours at $30,564.63.
|Investment||Date Of Purchase/Listing||Purchase Amount||Purchase Price||Coins Obtained||Current Worth||Percentage Change|
|Bitcoin||June 9, 2021||$1000||$20,089||0.04977848574||$1,521.46||52.14%|
The investor would have seen a gain of 52.14% and the $1,000 would have transformed into $1,521.46 at press time.
Long Term Gains Matter: Despite the present doom and gloom surrounding Bitcoin as the apex coin faces macroeconomic headwinds and comes under threat from TerraUSD (UST) losing its peg with the dollar, Bitcoin has still returned handsome gains to investors that have held on.
On the other hand, Bitcoin has also fallen 55.5% from its November 2021 all-time high of $68,789.63.
At those heady peaks, the investor’s 2017 foray would have netted him $3,424.24.