Benzinga - Leading cryptocurrency Bitcoin (CRYPTO: BTC) has been hit hard in 2022 like many other cryptocurrencies. Here’s a look at how much Bitcoin would be worth now if it was purchased five years ago.
What Happened: In October 2008, a whitepaper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” was released by the anonymous Satoshi Nakamoto. The first genesis Bitcoin block was mined in January 2009.
Since that time, Bitcoin has become the leading cryptocurrency by market capitalization and one of the most talked-about financial items in recent years.
The adoption of Bitcoin as legal currency by El Salvador and public companies such as Tesla Inc (NASDAQ: NASDAQ:TSLA), MicroStrategy Inc (NASDAQ: MSTR) and Block Inc (NYSE: SQ) were among the biggest stories in 2021 helping the leading cryptocurrency hit all-time highs of around $69,000.
Collapses and bankruptcies of cryptocurrency companies such as Celsius and FTX have hurt the overall cryptocurrency market in 2022 and led to a decline in price for major coins like Bitcoin and Ethereum (CRYPTO: ETH).
Here’s a look at if Bitcoin is still trading up from this time five years ago.
Related Link: Best FTX Alternatives: How To Keep Your Crypto Safe
Investing $1,000 in Bitcoin: Leading cryptocurrency Bitcoin traded between $9,202.05 and $10,801 five years ago on Nov. 30, 2017.
A $1,000 investment at the high price five years ago could have purchased 0.0926 BTC. That $1,000 investment would be worth $1,559.04. This represents a hypothetical return of 55.9% over the last five years or an average annual return of 11.2%.
Bitcoin is down 64% in 2022, but many long-term holders are still up on their original investment from years ago as the price has climbed in recent years.
Read Next: How Much $100 In Bitcoin Today Could Be Worth In 2030 If Cathie Wood's Price Prediction Comes True
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