You might have a limited knowledge of Bitcoin, but you’ll probably know more about it soon because it’s becoming much more mainstream. Bitcoin is a cryptocurrency that can be used digitally to make transactions and buy things. Created in 2008, by the reclusive man of mystery Satoshi Nakamoto, Bitcoin is fast growing to become a global phenomenon.
In fact, many experts have speculated that in ten years time Bitcoin could become the currency of choice for the world, surpassing actual paper money. It’s interesting to think about the valuation of Bitcoin as well. The valuations have grown rapidly since Bitcoin first emerged on the scene, but, even today they are fluctuating.
Working out the price of one Bitcoin is actually quite difficult because the prices continue to fluctuate. Most sources put the current valuation of between $900-1100. This is a huge amount of money, and just think if you were someone who invested early on in the process. For example, when Bitcoin first came on the market their valuation was next to nothing.
In fact, there have been some jaw-dropping tales involving Bitcoin valuation over the years. In 2010 an online user auctioned 10,000 Bitcoin for $50 cumulatively. Apparently, no buyer was found, but can you imagine if it was?! That person would be kicking themselves now!
There was also a story Swedish student who bought 5,000 Bitcoin in 2009 for as total of around $26.00USD. He forgot about them until 2013 came around, and his memory was jogged by some media coverage. It turned out the Bitcoin he had were now worth almost $900,000! Imagine if he had left them now; he’d be looking at a return of around $5 million!
There is no set price for Bitcoin, so it’s hard to come up with a definitive total for the cost of one. But the prices fluctuate much like the stock market. So it’s important to know and understand when you should cash in your investment. It’s always a good idea to study thyme market and make sure you understand how the process works. This is something that will help you figure out how to purchase Bitcoin for the best possible price.