If You Invested ₹1,000 In Bitcoin A Year Ago, Here’s How Much You’d Have Right Now

 Bitcoin is the most popular and valuable cryptocurrency in the world. It has been around since 2009, when it was created by an anonymous person or group using the pseudonym Satoshi Nakamoto. Bitcoin is a decentralized digital currency that can be sent and received without intermediaries or central authorities. It is powered by a network of computers that validate transactions and secure the system using cryptography.

But how has Bitcoin performed as an investment over the years? How much would you have today if you invested ₹1,000 in Bitcoin a year ago? Let’s find out.

Bitcoin Price History

According to Yahoo Finance1, the price of one Bitcoin in Indian rupees (INR) on June 1st, 2022 was ₹2,232,308.25. This means that one Bitcoin was worth more than two million rupees at that time.

However, Bitcoin has not always been so valuable. In fact, it started out with almost no value at all. The first transaction that gave Bitcoin monetary value was in October 2009, when a Finnish computer science student sold 5,050 coins for around ₹414.65, giving each Bitcoin a value of ₹0.0009.

Since then, Bitcoin has experienced many ups and downs, reaching new highs and lows along the way. Some of the most notable milestones in Bitcoin’s price history are:

February 2011: Bitcoin reaches parity with the US dollar (USD), trading at ₹45.32 per coin.

June 2011: Bitcoin hits its first major peak at ₹2,268.64 per coin, before crashing to ₹900.16 by November.

April 2013: Bitcoin surpasses its previous peak and reaches ₹8,540.80 per coin, only to drop to ₹4,270.40 by July.

November 2013: Bitcoin breaks the ₹54,324 mark for the first time, reaching an all-time high of ₹72,432 by December.

December 2017: Bitcoin reaches its highest peak ever at ₹1,193,600 per coin3, before entering a long bear market that lasts until 2019.

December 2020: Bitcoin breaks the ₹1 million barrier for the first time, starting a new bull run that continues into 2021.

April 2021: Bitcoin hits a new all-time high of ₹4,812,800 per coin, before correcting to around ₹2.4 million by June.

How Much Would You Have Today?

Now that we have seen how Bitcoin’s price has changed over the years, let’s see how much you would have today if you invested ₹1,000 in Bitcoin a year ago.

To do this, we need to know how many Bitcoins you could have bought with ₹1,000 on June 1st, 2022. According to Coinbase4, the exchange rate of Bitcoin to INR on that date was ₹2,232,308.25 per coin. This means that with ₹1,000 you could have bought 0.000448 BTC.

Next, we need to know how much those Bitcoins are worth today. According to Coinbase, the exchange rate of Bitcoin to INR on June 1st, 2023 is ₹2,297,186.50 per coin. This means that your 0.000448 BTC are worth ₹1,029.28 today.

Therefore, if you invested ₹1,000 in Bitcoin a year ago, you would have made a profit of ₹29.28, or a return of 2.93%.

Conclusion

Bitcoin is a volatile and risky asset that can offer high rewards but also high losses. Investing in Bitcoin requires careful research and analysis, as well as patience and discipline. If you invested ₹1,000 in Bitcoin a year ago, you would have made a small profit today, but not as much as if you invested earlier or later.

However, past performance is not indicative of future results. Bitcoin’s price can change dramatically in a short period of time due to various factors such as supply and demand, regulation, innovation, adoption and sentiment. Therefore, it is important to do your own due diligence and only invest what you can afford to lose.

Disclaimer: This blog post is for informational purposes only and should not be construed as financial advice or endorsement of any cryptocurrency or investment strategy. Please consult your own financial advisor before making any investment decisions.