Benzinga - Jack Dorsey, the CEO of Block Inc (NYSE:SQ), lauded Bitcoin (CRYPTO: BTC) during his initial public remarks when the cryptocurrency was trading at a mere $11.
What Happened: During a visit to the University of Michigan, Dorsey in 2012 engaged in a candid conversation about emerging technologies, expressing his admiration for Bitcoin.
Despite its relatively low value of around $11 per coin at the time, Dorsey referred to Bitcoin as “amazing” and predicted its potential to revolutionize the world of finance and technology.
“Bitcoin is an amazing movement. that needs to stabilize, and Square will accept any currency that comes over the counter. If it becomes huge and accepted in the world, Square will accept it," Dorsey said.
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Why It Matters: The returns have been extraordinary for those who invested $100 at the time of Dorsey’s comments.
Based on historical price data, the investment would have grown exponentially to $239,155, representing an astounding return of 239,054.55%.
Price Action: At the time of writing, BTC was trading at $26,307, up 0.32% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Spike After Franklin Templeton Files for BTC Spot ETF: Analyst Say If King Crypto Holds This Level, It Could Reach $30K Soon
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