How much money would you have made if you bought bitcoin when Trump said it was “air”?
Donald Trump first publicly criticized Bitcoin on July 11, 2019, calling it a currency based on “air.”
To calculate how much money you would have made if you had bought Bitcoin on that date and sold it today, we follow these steps:
- Get the price of Bitcoin on July 11, 2019.
- Get the price of Bitcoin today (August 1, 2024).
- Calculate the profit.
First, let’s get the historical price of Bitcoin on July 11, 2019.
Bitcoin Price on July 11, 2019
The price of Bitcoin on July 11, 2019 was approximately $11,500.
Bitcoin Price on August 1, 2024
The price of Bitcoin today, August 1, 2024, is approximately $29,200.
Profit Calculation
To calculate the profit, we will use the formula:
[ \text{Profit} = \left( \frac{\text{Current Price}}{\text{Starting Price}} - 1 \right) \times 100 % ]
Using the prices mentioned:
[ \text{Profit} = \left( \frac{29,200}{11,500} - 1 \right) \times 100 % ]
Now, let's perform the calculation:
[ \text{Profit} = \left( \frac{29,200}{11,500} - 1 \right) \times 100 % = \left( 2.5391 - 1 \right) \times 100 % = 1.5391 \times 100 % = 153.91 % ]
Interpretation
If you had bought Bitcoin on July 11, 2019 when Donald Trump called it "air," you would have made a profit of 153.91% through August 1, 2024.
In monetary terms, if you had invested $1,000 on July 11, 2019, you would now have:
[ $1,000 \times \left( 1 + \frac{153.91}{100} \right) = $1,000 \times 2.5391 = $2,539.10 ]
Therefore, you would have made approximately $1,539.10 on this investment.
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