If only I had invested in Bitcoin when it was trading for less than a penny. If only I had started mining Bitcoin years ago. And the regrets keep piling up.
There are several problems with this thinking that are important to understand. They are important to your future as an investor.
But first, let’s play woulda, coulda, shoulda.
According to Motley Fool, a single Bitcoin cost $0.003 back on March 17, 2010. That’s 49 years ago in Bitcoin years.
Had you invested the miserly sum of $1,000 on that date, you would have received 333,333 Bitcoins. I’m sure you see where this is going.
As of December 12, 2017 at precisely 8:33 am ET, Bitcoin is trading at $17,106.58. (Note my precision; wait a few seconds at Bitcoin can rise like a rocket or fold like a lawn chair.) At that price, you would have amassed Bitcoins worth $5,702,187,631.14.
That represents a compound annual growth rate of . . . oh who really cares? As my son would say, it’s a crap-ton of money.