Re: If I had bought BTC in the early 2010's at 10 cents,I would be a millionaire now
Truth is: You would have sold long before BTC reached even its 2017 ATH of 20k USD.Seeing things in hindsight makes you feel dumb, but the real truth is that back then nobody saw it coming. Only few, very few people really believed in BTC as a store of value or whatever. If you could go back in time and told people in 2010 that in 2021 hedge funds, S&P500 companies and even insurance companies are buying billions worth of BTC at 40k+ USD and using it as a store of value, everybody would just see you as the tin-foil hat person, laugh at you and call you mad and delusional.
This is the reason why I generally feel bad for those "two pizzas are now worth X millions" posts, as if the people who traded BTC for goods in the old days could predict the future. As such, the moment your holdings were at 10x your initial investment, very, very likely you would have sold as well, or just bought that awesome thing you could suddenly acquire with magic internet money.
That being said, do not punish yourself with the "if I had" thinking. Invest what you can and hold while you can. Taking profits is not a bad idea as well.
This is the reason why I generally feel bad for those "two pizzas are now worth X millions" posts, as if the people who traded BTC for goods in the old days could predict the future. As such, the moment your holdings were at 10x your initial investment, very, very likely you would have sold as well, or just bought that awesome thing you could suddenly acquire with magic internet money.
That being said, do not punish yourself with the "if I had" thinking. Invest what you can and hold while you can. Taking profits is not a bad idea as well.
I had the same feeling. Back in 2010, I was a fresh graduate and was busy in both my virtual assistant work and managing our family businesses. If I had known Bitcoin back then, I could have taken the risk in buying them without knowing what the future holds.
But still, Bitcoin is profitable and has the potential to go up to $100k before the year ends. Because of the continued interests of financial institutions around the world. You can buy some fractions of BTC, but always acknowledge the financial risks that you are taking.
Many want to have a time machine to travel back on the year 2010 so that they can buy cheap bitcoins and became multi-million sure at this year
but this one will never happen but what nice to see there is we can always look back at the history since even if the price of bitcoin reach at his new ATH the new halving one brings some great action. And I believe on next of it we can possibly see the price reach at $100k or more.Although there's chances that we can see this up on this year but I'm not closing the possibilities of the huge dump that's why I'm preparing my self to that scenario.