What If You Invested $1,000 In Bitcoin In 2013?
Bitcoin (CRYPTO: BTC) is the largest cryptocurrency by market cap. If you invested $1,000 in Bitcoin in 2013, when China imposed its first crypto ban, what would it be worth today?
BTC allows cross-wallet payment transfer without the need for financial intermediaries. Bitcoin currently has a market cap of $833.81 billion and dominates 42.7% among major cryptocurrencies.
On April 14, BTC hit an all-time high of $64,863.10 and was trading 35.68% below this level at the time of writing. Since the year began, BTC has yielded 42.5% returns.
On December 5, 2013, the People’s Bank of China, China’s financial regulators, and the country’s Ministry of Information Technology issued a statement declaring that Bitcoins are a “virtual good” and have no legal status and should not be used as currency.
This was the first ban imposed by the Chinese authorities, and a single BTC traded at $1,045.11 that day. BTC fell 1.69% in 24 hours, trading at $41,780.66.
If a person had deposited $1,000 the day China first banned BTC, they would have received approximately 0.956 BTC.
The investment in question would have been worth $39,941.68, with a gain of approximately 3.897.73%, when calculated at current BTC prices.
Since then, China has issued numerous bans and warnings, the last of which was last week.
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