What would a 1k investment in Bitcoin at the time of Buffetts initial warning be worth now

Following Warren Buffet’s investment advice is generally a wise decision. There are few examples that illustrate this better than the potential gains for any investor who purchased Apple (NASDAQ: AAPL) stock in 2016, the same year as the Oracle of Omaha. However, even the legendary Warren Buffett can be wrong at times. In March 2014, he advised against trading in Bitcoin (BTC), stating that while the technology behind it is promising, it is unlikely to become a widely accepted currency. Interestingly, he was partially correct, as Bitcoin did gain significant traction as an asset but is still not a competitor to traditional currencies like U.S. dollars (USD) or the pound sterling (GBP).

Despite Buffett’s warning, investing even $1,000 in Bitcoin in 2014 would have been incredibly profitable. Back then, BTC was trading at around $600, and today it stands at $60,282. This means that a $1,000 investment in the cryptocurrency ten years ago would now be worth almost exactly $100,000 – a stunning 9,900% increase. Even more intriguing is the fact that a $1,000 investment in BTC in 2014 could be worth $500,000 by the end of 2024.

However, despite the impressive returns, early July 2024 is expected to be a challenging time to measure Bitcoin profits. The cryptocurrency has recently experienced a significant downturn, dropping over 10% in the last 30 days. If the BTC bought in March 2014 had been sold in March 2024, the hypothetical investor would have turned $1,000 into more than $121,000.

Nonetheless, there is still a strong possibility of even greater profits in the future. Many prominent institutions and experts predict that Bitcoin is far from reaching its peak in this cycle. For instance, Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ predicted that BTC would rise to $300,000 before the end of the year, while banking giant Standard Chartered has maintained its $150,000 BTC price target for 2024 as recently as late May.

If these forecasts come true, the 2014 BTC investment could rise to $500,000 by late December, and even the more modest target would lead to $249,000 in profits. It’s important to note that the content of this site should not be considered investment advice, as investing is speculative and your capital is at risk.