Alex, a Reddit user was a curious and adventurous person who loved to try new things. He had heard about Bitcoin, the digital currency that was supposed to revolutionize the world of finance, but he had never owned any. He wondered if it was worth investing in, or if it was just a fad that would soon fade away.
He decided to conduct an experiment: he would buy $5 worth of Bitcoin every day for a year, and see what would happen. He set up an account on a popular cryptocurrency exchange, and linked it to his bank account. He also downloaded a Bitcoin wallet app on his phone, where he could store and manage his coins. He was ready to start his journey.
The first batch of coins
On January 1, 2023, he bought his first batch of Bitcoin. The price was $16,500 per coin, according to Yahoo Finance, so he got 0.000183 Bitcoin for his $5. He transferred his coins to his wallet, and checked his balance. He felt a surge of excitement as he saw his first Bitcoin transaction.
He repeated this process every day, buying $5 worth of Bitcoin at the current market price. He watched the price fluctuate, sometimes going up, sometimes going down, sometimes staying stable. He didn’t let the volatility bother him, he was in it for the long term. He was curious to see how his investment would perform over the course of a year.
A meticulous record-keeping
He kept track of his spending and earnings on a spreadsheet, where he recorded the date, the price, the amount of Bitcoin he bought, and the value of his investment. He also calculated the percentage change from his initial investment. He was amazed to see how his numbers changed over time.
Some days, he was pleasantly surprised by the price increase. For example, on November 1, 2023, the price reached its highest point of the year, at $35,527.93 per coin. He bought 0.000141 Bitcoin for his $5, and his total investment was worth $2,785.82, which meant he had gained 52.63% in value.
Other days, he was disappointed by the price drop. For example, on October 12, 2023, the price reached its lowest point of the year, at $26,558.32 per coin. He bought 0.000188 Bitcoin for his $5, and his total investment was worth $2,334.64, which meant he had lost 27.89% in value.
Accepting Bitcoin’s volatility
He learned to accept the ups and downs of the market, and not to panic or get too excited. He reminded himself that he was not a trader, but an experimenter. He was not looking for quick profits, but for long-term results. He was curious to see how his investment would compare to other assets, such as stocks, bonds, gold, or even cash.
He also learned a lot about Bitcoin, its history, its technology, its community, and its potential. He read articles, watched videos, listened to podcasts, and joined online forums. He discovered the fascinating world of cryptocurrency, and the many challenges and opportunities it faced. He became more aware of the problems of the current financial system, and the possible solutions that Bitcoin offered. He became more interested in the future of money, and the role that Bitcoin could play in it.
Sticking to the plan
On December 31, 2023, he has planned to buy his last batch of bitcoins for the year. The price of Bitcoin is already above the $34,000 mark at the moment per coin. This is double the price that he started with in January this year.
He looked at his spreadsheet, and felt a sense of accomplishment. He will complete his experiment, even though he has already made a profit. He will sped a total of $1,825.00 on Bitcoin over the course of a year, and his investment will be worth nearly double that amount at the end of the year.
More than just a currency
He also felt a sense of wonder. He had witnessed the evolution of Bitcoin, and the impact it had on the world. He had seen the highs and lows, the triumphs and struggles, the innovations and controversies. He had seen how Bitcoin had grown, matured, and adapted to the changing environment. He had seen how Bitcoin had challenged the status quo, and inspired a new generation of thinkers and doers.
He realized that his experiment was not just about money, but about learning, exploring, and discovering. He realized that Bitcoin was not just a currency, but a movement, a culture, a philosophy. He realized that Bitcoin was not just a fad, but a phenomenon, a revolution, a vision.