"I saw Bitcoin as a cool new technology, not a store of value or a way to make money." That is what a young guy told me his view of Bitcoin was when he discovered it while still in high school.
He bought in when the price of a Bitcoin was just $5 and spent most of them, just like a regular teenager would do with their pocket money or income from a part time job. Fortunately, he did save a small amount, and hopefully he's kept it, as the price at the time of our conversation was around $800.
How perspectives on the price of Bitcoin can change. It's easy with hindsight to say someone shouldn't have spent it or cashed out, or that they should have bought more. For those who bought in at pennies, the price rise to $5 must have seemed phenomenal, while for those who paid $800, the thought that others got Bitcoin for a mere $5 would be mind blowing. And now? Boy, would people who paid between $4,000 and $5,000 love to get their hands on some $800 Bitcoin!
What of the future? Will there come a time when those who paid $5,000 will be the envy of others because they got in while Bitcoin was still cheap? Time will tell.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
Like what you've read?
Please consider leaving a tip in Bitcoin or Bitcoin Rhodium using the QR codes above or the addresses below.