If I had bought bitcoin 10 years ago, I would have been a millionaire: Not true

[touseefahmad1999]

i agreed you,r point so long term investment strategy is really good to make double money. those people who bought bitcoin before ten years ago at this time they definitely millionare and they have been whales at this time . some people had sold own bitcoin because they never know about it in starting phase now if they strongly hold so they have been huge money at this moment

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[Victorik]

That's a skill one must learn at all cost if one must succeed in this space. Like the popular saying goes "if you can't hold, you can't be rich.

[ajanwalker]

I don't think it's true either, because it's not just a case of bitcoin. When you buy any brand new altcoin, the important thing is how much you can hold in your hand. The best example is the person who bought $8000 Shiba tokens waited for more than 1 year and then earned billions of dollars. The real issue is where you buy the coin and where you sell it. This is not unique to Bitcoin.

[muratsink]

if only 10 years ago we were in the crypto world and got bitcoins or we bought as many bitcoins at that time maybe we could release them in 2021 and I think we will become millionaires with the bitcoins we have today where we have saved it a few years ago this is not a back myth considering the current bitcoin price is much higher than 10 years ago maybe it is not impossible that someone can become a millionaire today if you buy bitcoin exactly 10 years ago

[goinmerry]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

I have to agree with this. Been holding lots before but even I like to hold it, there's always a side on my mind that I need to sell those. The way Bitcoin price increase is on step by step mode meaning before, likely we are all weak hands selling to the price we think already in peak.

I'm amazed at those who are able to hold for several years. Your effort got rewarded. I don't have regrets about what I did. It's a good experience that I experienced holding lots before and that was now part of the history.

[Sithara007]

In the past price growth for a coin needs many years to make 10-100x returns, but nowadays a coin could make 100x in less than a year, it showed us the market growth of cryptocurrency is growing so fast, if we compared to the previous years, this year's market cap is having a crazy growth.
I'm sure the next following years are will be more because the worlds is already realize the crypto power could make people's life easier compared to using banks for transaction.

Depends.. how many coins are going to give you 100x returns in a year? Look at the performance for the past 12 months. We had maximum 2-3 such coins, out of tens of thousands. In the past it was easier to have such returns, since we were still in the early adopter phase. But during the last few years the exchange rates have gone up for almost all the coins and at this point we have almost hundred different cryptocurrencies with a market cap of $1 billion or more. The market looks quite saturated, IMO.

[BitcoinAccepted]

humans in life often get financial problems suddenly. So usually many people often sell their assets if they experience financial problems, so it is very difficult to hold Bitcoin for up to 10 years.

That is true. Many of us here are buying bitcoin mostly to gain profit and use that in addition to our expenses or in case of life emergencies. And now that I am thinking more about it, maybe this would be highly possible to happen if the capital used for investing in the first place is under the category of excess funds of people, then maybe the holding time could really last long.

[Len Saldua]

I saw a video on YouTube about a woman who had about 300 Bitcoin at one point ( early days ). But when the interviewer asked her how many BTC she had now, she said "about a dozen". She'd spent all the rest funding a business and other things. Altogether she held those Bitcoin for about 3 years I think.


Let's not forget E-Gold. I remember when it came out, and it looked promising as the internet was just beginning to take off. But imagine investing $20,000 into E-Gold back then ( before Bitcoin ). You would have lost that money for sure...

[syedzakir]

Well bitcoin has raised it's price a lot in the previous ten years.
But being a billionaire by holding bitcoin is not too easy. You have to wait a lot to become a billionaire and this patience is not in most of the people.
Many people who have bought bitcoin ten years before must not be believing that it would be raised to such a high price and secondly when it undergoes dump they would sell it to avoid any loss.
So there will be only few who have hold this coin and now enjoying it's benefits

[TheGreatPython]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

Yes what you have said is right. Most of those people who do say these are not even able to hold for long period. if they had that opportunity to invest 10 years ago, they wouldn’t have been able to hold it till now. They just say that because they now see that the price of Bitcoin is high, and they’re just wishing that they were able to invest earlier and hold till this time. none of them would have even held their Bitcoin till now.

Even if they try to hold it at that time, when it reached about $2000 or so, they would have rushed to sell their coins immediately, thinking that they have made enough profit and that Bitcoin has reached a really high price, they wouldn’t know that the increase in price would continue even till now.

[pinggoki]

Just let this people daydream and have their hindsight play, it's not like they're going to be able to go back in time, let them fantasize on things that could've happened, of course people won't be able to hold out that long but there's going to be people that's going to be different from the rest and they would be able to hold out this long.

[Leonardo7]

That is not absolutely true, some persons still would have held maybe not all the numbers purchased. As a rule, I don't sell all my postion even though I hear a bad news, I have learnt some bad lessons by selling too cheaply, So, I don't easily sell and will never sell all postion it's part of my philosophy.

[Oasisman]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

Most of them was, because that's what an investment do multiply the capital. So, when an investor sees an opportunity he would in no doubt sell especially when Bitcoin was at a very early stage back in the days. Nobody would have thought that it could have a value as much as $60,000 in just 11 years.

However, there might be a few people who trusted Bitcoin and sold them in 2015 or 2016 when Btc reached a thousand bucks. Who would have thought It could be more than just a thousand bucks back on that days as well.

[qwertyup23]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

I think this is the same case with every investment where its price skyrocketed in the market 5-10 years ago.

I started investing in BTC back in 2017 where its price was relatively equal to roughly ~$4,000. Unfortunately, if I had just HODL my BTCs, I would have earned roughly around ~$40,000 in BTC which would have helped my family in relieving the expenses incurred.

Though this may be the case, this fully taught me on how to HODL my BTCs for long-term gains. Given the inflationary nature of BTC, its price would inevitably skyrocket the more it reaches to the points where every BTC would be mined out.

[Mahanton]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

Most of them was, because that's what an investment do multiply the capital. So, when an investor sees an opportunity he would in no doubt sell especially when Bitcoin was at a very early stage back in the days. Nobody would have thought that it could have a value as much as $60,000 in just 11 years.

However, there might be a few people who trusted Bitcoin and sold them in 2015 or 2016 when Btc reached a thousand bucks. Who would have thought It could be more than just a thousand bucks back on that days as well.

No one would ever thought that we would really be reaching this far and to those who had able to held even up to this year then i would say that they do have that diamond hands which is something a very rare person to be having like this kind of motivation and belief about bitcoins potential as a cryptocurrency.,
They had been rewarded out on the thing that theyve been holding for so long and we might able to see some 6 digits in the future
which would really be more a good spot for them if ever these holders would really tend to sell out their coins.

[Ultegra134]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

I think this is the same case with every investment where its price skyrocketed in the market 5-10 years ago.

I started investing in BTC back in 2017 where its price was relatively equal to roughly ~$4,000. Unfortunately, if I had just HODL my BTCs, I would have earned roughly around ~$40,000 in BTC which would have helped my family in relieving the expenses incurred.

Though this may be the case, this fully taught me on how to HODL my BTCs for long-term gains. Given the inflationary nature of BTC, its price would inevitably skyrocket the more it reaches to the points where every BTC would be mined out.

The most BTC I had ever acquired was roughly a little over 0.50 BTC, not a huge amount, but decent nonetheless. Do I regret spending them back in 2013? I do, however, OP's point is valid, we'd probably have sold when the price doubled or tripled. I remember buying at approximately $300-400, chances are, that I'd have sold them by the time it reached $600-800.

No one could have predicted that in 2021, Bitcoin would be worth a fortune, there's no point in regretting, nor thinking what we could have done differently. There's no way someone could have held for so much time, let's not forget 2017's all-time high too, which was the point I said to myself that it can't go any further, and decided to sell a good portion of my BTC.

[Shasha80]

The reality is that they would not have been able to hold for so long even if they bought 10 years ago. Very few have the patience to wait till 100x or more. Most of the investors will be sold at the idea of 2x or 3x itself. Some of the people that were able to hold for so long were those who had invested and then completely forgot about it. There is one more category of people who had complete trust on BTC and thus they stick with it for years.

Yes what you have said is right. Most of those people who do say these are not even able to hold for long period. if they had that opportunity to invest 10 years ago, they wouldn’t have been able to hold it till now. They just say that because they now see that the price of Bitcoin is high, and they’re just wishing that they were able to invest earlier and hold till this time. none of them would have even held their Bitcoin till now.

Even if they try to hold it at that time, when it reached about $2000 or so, they would have rushed to sell their coins immediately, thinking that they have made enough profit and that Bitcoin has reached a really high price, they wouldn’t know that the increase in price would continue even till now.

In the environment around us we surely find more people who do not have patience, so it's not surprising that in the crypto world there are
very few people who can be patient holding Bitcoin for up to 10 years. Moreover, 10 years ago no one thought Bitcoin would be this expensive,
I also believe that even Satoshi Nakamoto as the creator of Bitcoin will be surprised by the price achievement of Bitcoin so far. So it's really difficult
to be able to hold Bitcoin for 10 years, so we don't have to regret that we didn't buy Bitcoin 10 years ago, and holding until now. I'm willing to bet
fewer people will dare and will successfully hold Bitcoin in the next 10 years starting from now on. Although we all recognize the possibility that
the price of Bitcoin in the next 10 years will be much more expensive than the current price. But it is difficult to hold Bitcoin for 10 years, it is not
an easy thing to do and most people will not be able to do it.

[nurilham]

I agree, only certain people that are patient and lucky who have been using bitcoin for a long time. In the past, not many people knew and it was not as booming as it is now, and it was only when bitcoin exploded in price that investors began to take an interest in it. a patience will pay off so the saying goes, but not many can do it. it's okay because time goes on and we can't keep lamenting what has happened and will only make regrets continuously. the most important thing right now is to manage it well so that we can receive the results well because the results we get depend on how we manage them.

[muratsink]

Of course it is true that at that time, 10 years ago, I was in the crypto world and bought as many bitcoins as I could and could release them right now or in 2021. Of course, we would be millionaires if we bought bitcoin at a low price. and we can release it at this time at a price that we can say is very out of bounds.and it is not impossible that someone at that time got bitcoin and sold it so that they could become billionaires or millionaires at the current bitcoin price

[og kush420]

Thats true, no one can (or must not) HODL for ten years (or for indefinite time period). If you have bought BTC 10 years ago for 0.5$ (lets say) then its good that you sold if as soon as BTC hit 10$. Don't hodl btc for 10 years, just HODL it for one year and see the profit. I had few BTC in Dec 2020 when BTC was 10k, just imagine my holdings today after one year.