Bitcoin Creates 14,211 New Millionaires and 4 Billionaires
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Bitcoin’s surge past $100,000 has created over 14,000 millionaires and 4 billionaires. A decade-long investment in Bitcoin vastly outperformed major stocks like Apple and Nvidia. A new study based on data analyzed by NFT Evening shows that Bitcoin has been outstanding in terms of creating wealth. As the cryptocurrency surged past $100,000 for a token, it has reportedly made 14,211 new millionaires and four new billionaires. Unmatched Returns on Investment The study’s analysis examines Bitcoin’s performance against other traditional investments over the past decade. An investment in BTC at a cost of $4,000 in 2010 would yield $1 million after approximately 10.3 years instead of the $45,000 if invested in blue-chip stocks. This shows that Bitcoin investors have made $1 million once, and in fact, they have done it 22 times more than stock investors. Furthermore, those who invested $30,500 into Bitcoin in early 2011 were billionaires by October 2022, about 12.7 years later. This is a quite remarkable return on investment, calculated to be 32,787 times the original amount. In comparison, the same amount invested in blue chip stocks, with the same investment returns over the time period, will only yield $950,000. Bitcoin’s Outperformance Against Major Stocks The study also demonstrates how Bitcoins performed against the largest US stocks from 2010 to 2020. The ecosystem expanded during this period by 76,378 times that of Apple’s returns. Bitcoin, in this case, was even better, performing 6,062 times better than Nvidia, which is among the best-performing stocks in the recent past. Still, relative to Microsoft, Amazon, and Tesla shares, Bitcoin offered an edge of 148,978 times, 66,330 times, and 9,103 times, respectively. It should be noted that Bitcoin is one of the most highly volatile financial instruments that have ever been created, although it possesses great capabilities for generating wealth. The…
