Bitcoin, bitcoin, bitcoin, bitcoin, bitcoin, bitcoin…bitcoin. It’s all that anyone seems to be talking about, yet the volatility of Bitcoin is terrifying. Double-digit swings are a normal occurrence. And no one can explain what it does, at least not in plain English.
But there’s no denying that Bitcoin is a gold mine.
Investors who bought BTC coins in 2013 would have gained 2,411% by now. And those who “mined” the currency made even bigger returns.
For instance, in 2010, a random Bitcoin developer traded 10,000 bitcoins for two large pizzas. Nothing fancy, either. Just two ordinary Papa John’s pizzas.
He didn’t think much about it at the time because mining Bitcoin was something he did for fun; a little side project. Little did he know that it would go down in history as the first-ever Bitcoin transaction—and one of the greatest investment blunders of all time.
A British man took him up on the offer, paying roughly $25.00 for the pair of pizzas. And here’s the kicker: Those 10,000 tokens are worth $33.98 million today.
Please re-read that as many times as is necessary. $25.00 turned into $33.98 million over a seven-year span…
It’s a little hard to fathom, I know, but it’s well documented.
Despite the day-to-day flutterings of Bitcoin prices, naysayers in the media, and saboteurs in the banking community, Bitcoin minted a whole generation of new millionaires. That’s the bottom line.
Now there are other cryptocurrencies following its trajectory…
One of them is exploding with popularity. And its price chart looks eerily like Bitcoin’s did in the early years, though it gets far less publicity than Bitcoin.
It’s called Ripple.XRP Poised for Four-Digit Gains
Ripple trades under the symbol “XRP” and each token is worth $0.162543 (at the time of this writing). In a way, XRP is like a penny stock in the cryptocurrency world.