Did you know? Whoever invested $100 in “Bitcoin” 7 years ago is now worth more than $5,000,000!
On Sunday, Bitcoin broke the $3,000 level and the “cryptocurrency” keeps on going with more than 200% gain from the beginning of 2017 and more than 15,000% yield over the past 4 years!!
Bear in mind that those gains are in a non-leveraged account and with 1:10 leveraged account, $1,000 investment in the beginning of 2017 would have turned out to be $30,000 as of today!
The digital currency has had a stellar year, rising by more than 200 percent and easily outperforming stock market benchmarks like the S&P 500 index and the Nasdaq composite in 2017. The cryptocurrency has now more than tripled its value since trading at $968 on Dec. 31st and has gained nearly 30 percent in June alone.
According to CNBC, a contributing factor to the bitcoin’s recent surge is the growing demand from Asia. In addition to the China factor, Japanese interest has risen ever since the government approved Bitcoin as a legal payment method back in April.
Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind Bitcoin, saying it “has more potential than Bitcoin itself.”