2 weeks Ago By Aniket Verma
Max Keiser , known in the Bitcoin BTC/USD community for his early advocacy and unrivaled enthusiasm, reminded everyone about his astronomical returns from the cryptocurrency. What happened : Joining a conversation on X about first investments in Bitcoin and how much they have swelled since then, Keiser revealed he was up an eye-popping 6,800,000% in profit since purchasing it in 2011. I started buying Bitcoin in 2011 at $1 My ROI is 6,800,000% https://t.
co/Jn04j5cvGz Keiser, who also serves as the senior Bitcoin advisor to El Salvador President Nayib Bukele , has never declared how much of the cryptocurrency he owns, though information about his 2011 investments has been in the public domain for some time. His faith in Bitcoin's potential was so strong that he became one of the first mainstream journalists to cover it when it was priced at only $0.30.
By 2011, Keiser was openly discussing why Bitcoin posed "a threat to global governments" and declared it “the biggest story of the decade.” See Also : Satoshi Nakamoto Identity Prediction Market Appears More Volatile Than Bitcoin: Sassaman Dethrones Peter Todd . This passion has only grown in intensity.
Even a cursory look at Keiser's X posts demonstrated how unabashedly he backs the asset, at times elevating it to a godlike status. pic.twitter.
com/deWqnXf9fN While we don't know how much Keiser has invested in Bitcoin, if we assume a figure of $1,000, say at a price of $1 per unit, he would have 1000 BTCs in his possession. Assuming also that he HODLed his way to the present, the stockpile would be worth more than $67 million. The trillion-dollar asset has outperformed several of the traditional market investments in recent years.
The apex cryptocurrency gained nearly 100% over the last year, compared to 37% for gold and 40% for the S&P 500 , as per casebitcoin.com. On a broader timeframe, the gulf widens further, with Bitcoin rising 19,500% in the last 10 years, against gold's 122% gain and the S&P 500's 193% jump.
Read Next: US Government Hacked For $20M In Cryptocurrencies Including Ethereum, Says On-Chain Intelligence Platform — Attacker Reportedly Laundering Funds Photo courtesy: Unsplash © 2024 Benzinga.com. Benzinga does not provide investment advice.
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