We can all look back in our lives and remember missed opportunities both financially, in your career or personally. Well there are many Bitcoin millionaires who didn’t miss the Bitcoin boom.
The first real world transaction was made in May 2010 when someone paid 10000 Bitcoins for two pizzas which at the time was around $25 but that would now be worth around $46 million which shows the value of Bitcoins has gone up nearly 2 million times over the following period.
At first Bitcoins were slow to catch on and very few businesses accepted them but as more people liked the idea of a decentralised currency the number of businesses increased and high profile individuals endorsed the idea. Bill gates actually called Bitcoin “better than currency”. As lots of leading businessmen started to extol the virtues of Bitcoin its value started to rise and this was followed by governments accepting Bitcoin and regulating it to some degree.
As we have said before the main difference between Bitcoin and other currencies is that it is decentralised so no government or bank controls it. As world problems come and go and currencies are affected and their exchange rates fluctuate the Bitcoin market is mainly protected against this and as there is a finite amount of Bitcoins in circulation governments cannot make more to play around with their economies allowing market forces and economics to work as it should without outside influence.
William Casares, a billionaire businessman, has said that he thinks there is a 20% chance that Bitcoin will fail and everyone will lose their funds but also a 50% chance that Bitcoins will be worth close to $1 million dollars. So he thinks that everyone should invest a small amount of their savings (even as low as 1%) because the odds, as he sees it, are in your favour.
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