Menu IconA vertical stack of three evenly spaced horizontal how much is a bitcoin in euro. Cryptocurrency is subject to extreme price fluctuation. Some people were made millionaires in only a year after purchasing Bitcoin in early 2017.
This type of investment is not advisable for people who can’t afford to lose that cash completely. Speculating with cryptocurrency leads to such extreme fluctuations in price that it resembles gambling in a casino. But those who ventured a gamble in 2017, the year of crypto-hype, had to take on much more risk. Six years ago, at the age of 12, 19-year-old bitcoin billionaire Erik Finman received a 1,000-euro check from his grandmother and put in right into bitcoin. At the time, a bitcoin was worth about 10 euros. Since then, the cryptocurrency rose to over 17,000 euros in December 2017. In January, Finman told Business Insider Deutschland: “If you are smart about cryptocurrency over the next 10 years, you can make a fortune.
I do not want to be misunderstood: This is, of course, a very high amount, but in comparison to other asset classes, it’s small. Therefore, I say if you do not become a millionaire in the next 10 years, then it’s your own fault. That is easy to say, of course, but it is certainly no longer so easy to become a millionaire through bitcoin speculation. At least, not in a short time. The answer is that on January 1, 2017, you would have had to buy 49.
78 bitcoin investment would have been worth a million dollars. Please note: Since investing in cryptocurrency with money you need as a savings buffer is not advisable, the majority of the population is actually excluded by the above calculation. 47,938 as ‘pocket change’ can afford to take such a risk. 400,000 of virtual value left as of February 9, 2018. 600,000 in less than two months.
Get the latest Bitcoin price here. Read the original article on Business Insider Nederland. Follow Business Insider Nederland on Twitter. Bitcoin keeps coming back in the headlines. With any Bitcoin price change making news and keeping investors guessing. In countries that accept it, you can buy groceries and clothes just as you would with the local currency. Bitcoin is divorced from governments and central banks.