Bitcoin - that one word has been the topic of many confusing conversations over the last few years. For the people that still don't understand it, chances are you didn't invest your hard earned cash.
But, you could have been making money for little effort if you put in $100 (£72) on the 22 April 2020. You could now have $696 (£502) - not bad if you have some spare money knocking around, is it?
If you got in there even earlier, you could have even more because a $100 investment in April of 2019 would mean your coin is now worth $910 (£656).
Advert
Sickeningly enough, if you invested in Bitcoin back when it was first launched in 2009 the value could now be in the region of millions and possibly even billions. That's because the initial rate was absolutely nada. Nothing. Zilch.
It would have been a big risk back then and the chances are that investors probably pulled out at some point with it being a volatile currency for much of its existence.
Some people think Bitcoin is about to peak though due to the wider cryptocurrency market making moves. Which means that the momentum could soon collapse.
According to Bloomberg, JPMorgan Chase & Co. strategists led by Nikolaos Panigirtzoglou noted that the last few times they witnessed negative price action, buyers returned in time to prevent deeper slumps. This time, they're not too confident.
The strategists told the publication: "Over the past few days Bitcoin futures markets experienced a steep liquidation in a similar fashion to the middle of last February, middle of last January or the end of last November.
Advert
"Momentum signals will naturally decay from here for several months, given their still elevated level."
Despite a potential downfall, the person who invented Bitcoin - Satoshi Nakamoto - has a fortune estimated at around £44 billion. Bet they're not complaining, eh?
The only problem is, no-one knows who Satoshi Nakamoto is, whether the person who invented Bitcoin is alive still, or whether they were ever a real person to start with. What a mysterious character.
Irrespective of who him/her/they are - they're one of the richest people on the entire planet as they own around five percent of the world's Bitcoin.
Advert
Things get even weirder though. Nakamoto has enough money to do whatever tf they want but it's not been touched for a full decade. Is this a conspiracy theorists dream?
Featured Image Credit: PA