A 1000 Rs investment in 2011 would have yielded more than Rs 70 lakh today

October 21, 2017

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Back in 2009 when Bitcoin was first introduced by Satoshi Nakamoto- the creator of bitcoin who remains anonymous till date few would have bet that within a span of 8 years its value would soaring heights it is at today. As on 21st October 2017, the digital currency has crossed the $6000 mark and its popularity can be gauged from the fact that it took a total of just 8 days for Bitcoin to breach $6000 from $5000 mark.

Given the festive season and the upcoming 7th pay commission in India, people are looking for investment opportunities and Bitcoin could be one such avenue. Back in 2010 a guy bought 2 pizzas worth 10,000 bitcoins today a £17 million pound mansion in London is up for grabs for 5000 bitcoins. Bitcoin is currently trading close to Rs 3,75,000 in the Indian market and if any early birds would have invested Rs 1000 in the digital crypto currency in 2011 equivalent to 20 bitcoins it would be worth Rs 70 lakh today. Ever since 2010, bitcoin’s value has multiplied over 879,999 times. The price of Bitcoins has been extremely volatile over the past few years.
In February 2017, Bitcoin broke its 2013 record and hit a mark of Rs 78650+ per bitcoin. And to everyone’s surprise, it hit bigger milestones too. It even went beyond the price of one Troy ounce of gold. And by May first week, it heaved again to a price of Rs 1,40,000 per bitcoin. (Source Unocoin).