Bitcoin have a fantastic performance from 2020 to early 2021. If you had Bitcoin from a year ago, how much profit would you make?
From February 2020 to February 2021, Bitcoin is recorded to have grown by more than 700%. Initially, Bitcoin was only sold for Rp. 100 million. Until now, Bitcoin has touched its highest price of IDR 851 million.
Let’s calculate how much your profit would be if you kept Bitcoin from a year ago. How is Bitcoin moving during a pandemic?
Previously, many people had doubts about Bitcoin. However, during a pandemic, it seems, people’s doubts are changing. Until Bitcoin becomes a good investment.
At first, Bitcoin was considered to be a safe haven asset in times of global economic crisis, such as the current pandemic. However, Bitcoin is also called a good inflation hedge.
This was first expressed by Paul Tudor Jones, CEO of Tudor Investment Corp, a year ago. He believes Bitcoin can be a good inflation hedge.
Tudor Investment Corp then stated to buy Bitcoin and manage it as an asset. The purchase is estimated to reach millions of dollars or trillions of Rupiah.
It’s not just the company. Other companies from the United States have also recorded massive purchases.
They are Square Inc, Microstrategy Inc, until the last company that bought it was Tesla Inc. These companies are buying Bitcoin on a massive scale, causing fantastic price increases.
Microstrategy and Square Inc bought Bitcoin when the price was still cheap, around Rp. 100 million-Rp. 150 million. Of course, their profits have already reached trillions of Rupiah.
In fact, Tesla, who bought Bitcoin at a price of Rp. 400 million, has also made trillions of rupiah in profits.
How Much Would You Profit If You Buy Bitcoin from a Year Ago
Last year, BItcoin had increased from IDR 100 million to IDR 150 million in the middle of the year. Bitcoin lasted for a long time at Rp150 million.
Then, in November 2020, Bitcoin again broke through its highest price in history, which was IDR 200 million. Since the end of that year, Bitcoin has continued to increase, reaching a high of Rp.851 million in February 2021.
That means, if calculated from February 2020 to February 2021, Bitcoin’s increase reached more than 700 percent.
If you buy Bitcoin in February 2020 and continue to store it, the maximum profit is more than 700%.
If you bought it for around IDR 1,000,000, then your Bitcoin is currently worth IDR 7,000,000. Or if IDR 10,000,000, then your Bitcoin is currently IDR 70,000,000
Is It Too Late To Buy Bitcoin?
Even though the price of Bitcoin is already high, it’s still not too late to buy Bitcoin. Because the price is likely to continue to rise again. In fact, it is predicted up to Rp. 2 billion.
Even though Bitcoin costs hundreds of millions, you can still own it. Because Bitcoin can be transacted with the smallest denomination up to IDR 10,000.
Bitcoin has also been regulated by the Indonesian government as a commodity that can be owned. So, you don’t need to be afraid that the government will not prohibit the use of Bitcoin and altcoins as investments.
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