Published on May 25th, 2017 | by bitcoin0
Tremendous Price Increase: $100 Bitcoin Purchased in 2010 Now Worth $75 Million
Earlier this week, CNBC, one of the few mainstream media outlets that have been offering extensive coverage on Bitcoin over the past few months, revealed that $100 worth of Bitcoin purchased in 2010 is now worth $75 mln.
In a relatively short span of seven years, Bitcoin price surged from around $0.003 to a staggering $2,389.
That is a 796,000x return as an investment.
In fact, today, on May 24, Bitcoin price hit a new all-time high at $2,392 and is continuously demonstrating a rising demand from both casual and institutional investors.
Bitcoin price hits new all-time high again for the second time this week at $2,392.
— Joseph Young (@iamjosephyoung) May 24, 2017
The majority of mainstream media analysts suggest that Bitcoin price is completely speculative in the sense that investors are purchasing Bitcoin solely expecting a massive return in value.
Bitcoin is the alternative financial network which is directly competing with the banking and financial industries.