Each week I put a bit of money aside to invest in Bitcoin. After living expenses and mortgage repayments I don’t have much left to put toward bitcoin, only about $75 per week. I was interested to know how long it will take me to get 1 Bitcoin so I did a quick excel calculation. I was surprised to find the answer. Never.
I graphed the current value of bitcoin since January 2016 and added in a trendline.
At first glance, I figured the trendline was conservative. You can see that at the currently value, we are ahead of the curve. I suppose there will be some corrections along the way so let’s roll with this for now.
Then, using the trendline equation, I mapped out my total bitcoin holdings if I were to buy $75 every week at the price that week.
After 1 year, the theoretical price is $11k/btc and I will hold 0.72 btc. This doesn’t sound too far off base.
After 2 years, the theoretical price is $43k/btc and I will hold 0.88 btc.
After 5 years, the theoretical price is $2.64M (getting a little extreme but others have predicted higher) and I would hold 0.953 btc.
After 500 years I will have 0.954 btc and the price will be $1x10^301
I won’t get to 1 bitcoin, but I’ll be happy with my $1.01x10^301
Ok so obviously we can’t extrapolate quite that far. That being said, in 500 years Fiat currency could well be completely obsolete and worthless making this amount actually accurate in the same way that 1kg gold is almost infinitely more valuable than 1kg of dirt.
Please don’t take this too seriously guys. This was just a 5 minute calculation for my own interest and a bit of fun. But if you want to hold 1 bitcoin, I don’t recommend the $75 per week method.