[Update] Bitcoin: How long to accumulate 1 BTC by buying $20 per day?
I came across this tweet today which lets one think a bit.
New adopters may never own a whole BTC (100,000,000 satoshis.) If you start buying $20 / day and price increases 0.2% daily, will take 2 years to acquire 1 BTC. pic.twitter.com/OkalWFyOYC
— Jameson Lopp (@lopp) November 19, 2017
[Update]: So my maths was totally wrong. Updated below with the correct values
To put that into context. $20 per day for 2 years (802 days to be exact) will be around $16040 invested. Using the 0.2% growth as per the tweet, the bitcoin price after 802 days would be $39640. Some of you might disagree with that growth but just look what happened over the past year, then this is not so far fetched.
So although 2 years sounds a long time to accumulate that 1 BTC, it is still very much worth it.
If we assume that bitcoin price will be $39640 in 2 years then your investment of $16040 would have grown by 147% in 2 years. In my books that is not bad going.
It does not matter how small you start, the moral of all this is to start.