If you don’t want to hear how much you’d have if you’d invested $1 a day in bitcoin over the last five years, look away. Suffice to say, it would have been a very good rate of return indeed.$1 a Day in Bitcoin Over 5 Years
Managing Partner at Blocktown Capital James Todaro shared a captivating video clip on Twitter. It shows what would have happened if you’d invested $1 a day in bitcoin over the last five years…
Spoiler alert: you’d have $22,263 worth of BTC today.What it would look like if you invested $1 a day into bitcoin over the past 5 years. Less than the cost of a cup of coffee a day is worth…🚀🚀🚀$BTC #bitcoin pic.twitter.com/LbZap52t52 — James Todaro (@JamesTodaroMD) February 1, 2020
Of course, you would have spent $1,858 which brings your profit down to $20,405. Then there’s the question of how much tax you have to pay depending on where you live.
But still, for less than a “cup of coffee” (or even a can of Coke) a day, you could have accumulated more than $20k of bitcoin.
So if you think that $1 a day in BTC is too small to amount to anything, Todaro just proved you wrong.
Circumstances are somewhat different now than in 2015 when bitcoin was worth $1. However, as the video shows, $1 in bitcoin was still profitable even when it hit its record $20k in 2017.Can You Actually Invest $1 a Day?
The video is impressive and naturally commanded a lot of comments, mostly praising the number-one cryptocurrency. However, as interesting as it is to see, one follower Bitcoin Rich brought up an interesting point. After all, can you actually invest $1 in BTC a day?
Are there any exchanges that will allow you to buy such a small amount and would it be worth it with commissions? For example, you can forget about an exchange like Coinbase. It has a $2 minimum purchase and they’d charge you $1 for it.Don’t get me wrong it’s interesting and a great effort, but where are you able to buy ...