Chances are very big – for example, if you invested $500,000 in Bitcoin in mid-September 2017 at $3300-$3500, then you would become a millionaire within six weeks, as the price more than doubled.
If you buy Bitcoins worth $800k-$900k, then the investment amount can reach $1 million in several days, as Bitcoin can easily demonstrate over 10% growth in a few days. However, it is true that you can cut the same percentage of your portfolio because Bitcoin can also decline in price.
So, it is realistic to become a millionaire by investing in Bitcoin, but the question is – how much can you invest?
It seems that your question is incomplete, because if you plan to invest $100 in Bitcoin, then it has to increase by 10,000 times, meaning that Bitcoin price should reach over $65,000,000 considering today’s price.
Well, I don’t know if Bitcoin could ever reach that target. Actually, I know it – it can’t. If it would reach $65 million amid a total supply of 20 million Bitcoins (today the supply is 16 million), then the total market capitalization should be around $1,300,000,000,000,000, which is 1.3 quadrillion.
1.3 quadrillion is quite a lot, as the total USD supply today is $13 trillion, considering M2 parameter.
Well, that’s exactly 100 times less than 1.3 quadrillion.
Even if you consider the total supply of all the fiat currencies in the world, which, according to CIA Factbook, is close to $80 trillion, you cannot push Bitcoin price to $65 million.
So, no chances for you to become a millionaire by investing $100 in Bitcoin.
According to today’s price of $6,500 (November 10, 2017), here are different investment scenarios:
So, if you have $100,000 to invest in Bitcoin, then you may become a millionaire in 10 years, as some experts predict that Bitcoin can hit $100k
- Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years, according to Saxo Bank analyst Kay Van-Petersen.
- Its market capitalization could grow to $1.75 trillion which would make each bitcoin worth $100,000.
But, it is not guaranteed.
As a conclusion, the chances depend on how much you invest.