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🫵 In a compelling tale of persistence and financial prudence, a Reddit user embarked on a unique investment experiment, demonstrating the potential rewards of consistently investing small amounts, or dollar cost averaging, into Bitcoin.
✨The Redditor, going by the handle u/Gorillahair2000 , initiated an experiment to determine whether allocating just $5 per day into Bitcoin was a worthwhile endeavor, and over the course of one full year, diligently recorded their progress.
After 365 days of investing $5 per day, the Redditor accumulated a total stack of 0.075 Bitcoin. The average purchase price stood at $24,108.58, while the current price of Bitcoin was $34,158.20.
✨The total expenditure over the year amounted to $1,825.00, and the current value of the investment was $2,585.75, yielding a net change of +41.68%.
The Redditor also noted that they accounted for the 0.5-1.0% spread on each of their purchases, meaning the gains remained after adjusting for fees. The user indicated that they buy with Strike, a popular Bitcoin Lightning wallet, and then withdraw the Bitcoin to a hardware wallet, in line with industry best practices.
✨In a year's time, they transformed the daily expense equivalent to a Starbucks coffee into $2,500 in current value, or a $750 gain.
The experiment proves that even with a modest budget, investing in Bitcoin can yield significant returns, and it further demonstrates the power of dollar-cost averaging, a strategy that involves consistently purchasing assets at fixed intervals, regardless of their price, thereby mitigating the effects of market volatility.
✨Further, it also highlights Bitcoin's main advantages as a sound money, one that doesn't depreciate like traditional savings vehicles tied to inflationary fiat currencies.
🅰️ Disclaimer
The content of this publication does not constitute financial advice. Always do your own research.
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