A bitcoin is worth 170000. How much money can you make now if you invest 1 yuan 10 years ago?

Text / DILIN audit / Ziyang proofread / Zhiqiu this article was first published in Baijia No.1, no plagiarism and reprinting. After a slump, bitcoin ushered in a new round of soaring. The price of bitcoin has reached an unprecedented peak. As of 2 p.m. Beijing time on December 27, the price of bitcoin reached US $27372, up more than 10% in 24 hours, according to coindesk. The total market value of bitcoin also reached US $508.6 billion, equivalent to about RMB 3.3 trillion. A bitcoin is worth 170000 yuan, which is a situation that we dare not even think about in 2009. In January of that year, Nakamoto excavated the world’s first bitcoin. When bitcoin was first purchased, the unit price was only $0.0025, which is 10.8 million times higher than today’s $27000. This means that if you invested 1 yuan in bitcoin 10 years ago, you could buy 61.3 bitcoins. Today, the value of the position will reach 10.8 million yuan. It is worth noting that the bitcoin boom continues. As of 5:00 a.m. on December 28, bitcoin’s price broke through $28000, only a step away from the $30000 mark. So why is bitcoin suddenly going crazy in 2020? In my opinion, on the one hand, it is because of the impact of the epidemic on the global economy, on the other hand, it is because of the scarcity of bitcoin. Since the beginning of 2020, the new crown pneumonia epidemic has spread all over the world. China has taken the lead in controlling the epidemic and the economy has recovered rapidly. However, most countries in Europe, America and other regions are still in the state of being shrouded by the epidemic situation, and the economy is continuing to decline. In order to slow the economic downturn, the Federal Reserve released more dollars, which led to further depreciation of the dollar. It is impossible for a group of capitalists to watch their assets “shrink out of thin air”, so they began to look for safe assets to hedge against inflation. Before the emergence of bitcoin, most of the capital chose gold, and the emergence of bitcoin made capital have more hedging options. In addition, bitcoin encryption, as well as its completely decoupled from industry, is also one of the reasons why bitcoin has become a new favorite of capital. However, when a large number of capital are interested in bitcoin, and a large amount of capital flows into the bitcoin market, the balance of supply and demand will be broken instantly. You know, unlike paper money, bitcoin can’t be printed and produced indefinitely. Its quantity is limited and cannot be increased. Therefore, the simple principle of supply and demand is to explain that the huge demand leads to the price surge of bitcoin with limited supply. According to the data, there are only 21 million bitcoins in total. Due to forgetting passwords and other reasons, the number of bitcoins in circulation on the market is far less than 21 million. Nowadays, almost all the competitors in bitcoin circle are large overseas financial institutions. For ordinary people who are lured by high profits to invest, I hope to think twice before doing so. Welcome to digital goblin, an interesting and insightful technology we media

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