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Early adopters called Bitcoin the "future of money" nine years ago and now the price is up 10,000 times

Bitcoin is currently valued at $ 161 billion, with strong infrastructure established by the world's largest financial institutions and corporations such as Fidelity, CME and Square. 9 years ago, BTC market capitalization was valued at less than $ 21 million.

Early adopters called Bitcoin the

Bitcoin HODLer is not “lucky”?

Bitcoin usually has a bull market cycle – a bear market cumulation phase every 2 to 3 years.

Due to its nature as an emerging asset, both market bear and bull markets tend to last longer than investors expect.

In the bear market, prolonged corrections usually end when market sentiment moves to extremes, most investors begin to give up and the market is about to collapse.

In the world of cryptocurrencies, investors hold Bitcoin through an up and down cycle with a long-term investment argument called HODLer. After each major bull run, HODLer is often described as “lucky” investors who can buy BTC at low prices.

But, a discussion of BTC in 2009 on the famous forum shows HODLer's long-term faith in Bitcoin.

On a topic called “Bitcoin, global money” that began on February 22, 2011, an investor said:

"I think BTC will succeed, because even if it is only traded by a slowly growing Klingon-speaking BTC enthusiasts, it still follows the definition of storage and transportation. asset effective”.

Investors note that although BTC may start as a new currency for small groups of users, over time, it will eventually serve more people. Investors explain:

"So at some point, Bitcoin will be traded strongly around the world. Start from the group of speakers Klingon but then much people than even just want to store and transport value ".

“Exactly nine years ago, a bunch of 'other people' said on Bitcointalk about how Bitcoin has just reached 1 dollar will be the money of the future.

But tell me again how lucky HODLer was and in the right place at the right place at".

As time went by, many companies began to participate in BTC and the cryptocurrency industry as a whole.

Fidelity, CME and Square are operating platforms that facilitate trading and buying BTC. Samsung is operating a Bitcoin mining venture and some of the largest banks in the world seriously study the technology behind it.

For those who believed in Bitcoin and platform technology in the early stages, although it was not easy, they paid off. Since 2011, the price of Bitcoin has risen from $ 1 to $ 20,000 at its peak. At the current price of $ 8,779, the value has risen 8,779 times for early investors.

TMore chiefs are about to appear?

Executives and investors are prized in the cryptocurrency industry as Xapo CEO Wences Casares believe Bitcoin will eventually be worth $ 1 million over a 10-year period.

Casares explained that when mainstream Bitcoin adoption increases over the long term, the fixed supply will make BTC a lot more valuable.

"Over time, I have noticed that the price of Bitcoin fluctuates around ~ 7,000 dollars x the number of people who own Bitcoin. So if constantly maintained and have 3 billion people used to own Bitcoin, it would cost ~ 21 trillion dollars (~ 7,000 dollars x 3 billion people) or 1 million dollars each Bitcoin. “

Bitcoin's market capitalization still accounts for only 2% of the entire gold market capitalization. BTC has come a long way to be considered an appropriate safe haven asset, but when that point is reached, industry executives believe that the value of BTC will skyrocket.

You can see the price of Bitcoin here.

Minh Anh

According to Cryptoslate

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