If you were lucky – or had foresight – to invest $1,000 in Bitcoin (BTC) a decade ago and held on without selling, you would now own over $398,000. Notably, this figure comes after an extraordinary growth period for Bitcoin: from less than 1 cent in 2010 to about $300/coin just a few years later.

Bitcoin's nonlinear growth journey

Over the past decade, the price of Bitcoin has not increased in a straight line. Instead, it has gone through explosive growth phases interspersed with strong corrections. Looking at the price chart, several key catalysts can be seen that have driven strong upward momentum:

  1. The 2017 craze

    At the end of 2017, a wave of awareness and interest in cryptocurrency exploded globally. Bitcoin's price increased20 times in just one year, attracting media attention and millions of new investors.

  2. The COVID-19 pandemic and economic stimulus policies

    During the 2020-2021 period, governments launchedhuge financial support packages along with unprecedented monetary easing policies. Investors sought profit opportunities outside traditional markets, and cryptocurrency becamean attractive destination.

  3. Cryptocurrency-friendly policies under the Trump administration

    Recently, some moves from the US government have contributed to boosting the market, for example:

    • The Office of the Comptroller of the Currency (OCC) confirms that financial institutions are allowed to provide cryptocurrency custody services.

    • This encourages financial businesses like SoFi Technologies to resume crypto trading services.

    • Traditional banks may soon become more deeply involved in this field.

Bitcoin – From a hobby of the few to a global asset

Ten years ago, Bitcoin and financial technology (Fintech) were not yet popular:

  • Only a small group of early technologists and investors used it.

  • There was hardly any recognition from traditional finance.

  • Considered a"digital experiment" more than a serious asset.

Today, Bitcoin has become:

  • A store of value asset accepted by many institutions and individuals.

  • A part of the investment portfolio of large funds.

  • The foundation for many blockchain applications and the developing DeFi ecosystem.

💡 Lesson learned: Although Bitcoin has gone through many periods of strong volatility, history shows that those who persistently hold long-term have been well rewarded. However, opportunities come with risks – and not everyone is willing to endure price drops of 70-80% while waiting for recovery.