Here's how much money you'd have if you invested $1,000 in bitcoin 10 years ago | Canada News Media
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Here’s how much money you’d have if you invested $1,000 in bitcoin 10 years ago

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8 months ago

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Bitcoin is flying high again, with the price of a token topping $52,000 Wednesday — the first time that’s happened since November 2021.

That’s a remarkable recovery for the ever-volatile cryptocurrency, which was trading at less than a third of its current value in November 2022.

How much $1,000 invested in bitcoin is worth, based on purchase date

If you had invested $1,000 in bitcoin one, five or 10 years ago, here’s how much your money would be worth now. CNBC’s calculations are based on the token’s price of $51,793 as Feb. 14.

  • If you had put $1,000 into bitcoin a year ago, it would have grown by 133% and be worth around $2,331 as of Feb. 14.
  • If you had invested $1,000 into bitcoin five years ago, the investment would have grown by 1,352% and be worth around $14,524 as of Feb. 14.
  • If you had bought $1,000 worth of bitcoin 10 years ago, it would have grown by 7,644% and be worth around $77,443 as of Feb. 14.

And if you bought bitcoin on Jan. 11, when the ETFs launched, a $1,000 investment would now be worth $1,113.

Do your research before investing

Because cryptocurrencies are highly speculative, financial experts commonly recommend investing no more than you’re willing to lose. Similarly, past performance isn’t necessarily indicative of future success.

That said, a small amount of crypto can be part of a diversified investing strategy.

“I think it makes sense for most folks to hold a small holding of cryptocurrencies, maybe 1% or 2% of an entire portfolio,” Chris Diodato, a CFP and founder of WELLth Financial Planning, previously told CNBC Make It.

However, “I’m hesitant to recommend more because, in addition to its significant volatility, it doesn’t produce cash flow like traditional investments — it’s only worth as much as someone is willing to pay for it.”

Instead of picking individual stocks or other assets, experts often recommend investing in low-cost index funds or ETFs, which offer automatic diversity. When you invest in the S&P 500, for example, you’re essentially buying part of around 500 of the largest publicly traded companies in the U.S., so your investment’s success isn’t tied to a single company.

As of Feb.14, the S&P 500 is up about 21% compared with 12 months ago, according to CNBC’s calculations. Since 2019, the index has grown by around 82% and since 2014, it has ballooned by around 172%.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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5 days ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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1 week ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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