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Rachel Welch

29 October 2022 170 Read Bitcoin

What If I Bought Bitcoin 5 Years Ago?

If you bought bitcoin five years ago, it would be worth $2,263 today. At that time, the price of a single Bitcoin was about $1,300. However, now, the value has risen to over $20,000. That means that if you bought $1M worth of Bitcoin back in 2011, you would have now accumulated over a million dollars' worth of the currency.

The Bitcoin price has been volatile over the past five years. The price of Bitcoin reached $30 in June 2011. It then dropped to $23 in the next twelve days. Then, it went on to climb to nearly $20,000 by November 2020. The prospect of a COVID vaccine and liquidity from the Federal Reserve helped the markets ripen higher. In December 2020, Bitcoin reached $28,949 and closed the year at $89,236.