Once upon a time, there were some people who wanted to make an investment with Bitcoin. They heard about something called a Bitcoin ETF, which is a way to buy and sell Bitcoin easily. So they put $1,000 into it in 2013 when the price of Bitcoin was low, only $90.80.
Now, fast forward ten years later, and guess what? That same investment is worth over $520,000 today! Wow! The reason it grew so much is because Bitcoin became very popular and its value went up a lot. It even reached prices like $69,000 at one point.
If they had invested in other things instead, like a big group of companies (SPDR S&P 500 ETF Trust) or a car company (Tesla Inc), they would have made good money too, but not as much as with Bitcoin. So, those people who bought Bitcoin back then are very happy today!
Read from source...
- The title is misleading and clickbait, as it implies that the investment was made when the first Bitcoin ETF was filed, which never happened. The correct date should be July 1, 2013, when the Winklevoss twins filed their S-1 for a Bitcoin ETF.
- The article does not provide any context or background on the history of Bitcoin and its ETFs, which could help readers understand the significance and impact of the recent SEC approvals.
- The article uses an arbitrary price of $47,316.45 at the time of publication, without explaining how it was calculated or sourced. This could lead to confusion and inaccuracy among readers who might use a different source or method to determine the current value of their hypothetical investment.
- The article compares Bitcoin's returns to those of the SPDR S&P 500 ETF Trust and Tesla Inc, without adjusting for risk, volatility, or correlation. This could give readers a false impression of Bitcoin's performance and suitability as an investment option.
- The article uses words like "surprising", "hit the $1,000 level", and "traded below $100" without providing any data or evidence to support these claims. This could undermine the credibility of the article and its author.