Everyone loves to repeat the legendary line: “If I had bought $100 of Bitcoin in 2010, I’d be a millionaire today.”
But reality isn’t that simple.
While it’s true that early bitcoin buyers had a once-in-a-lifetime opportunity, the path to wealth was anything but smooth. Massive gains came with devastating crashes, overwhelming doubt, and psychological pressure most investors couldn’t handle. The idea that buying early automatically led to long-term riches is a myth — and the truth is far more complex.
From $100 to Billions? Only If You Held Through Hell
A viral post by TechDev recently reignited the debate by breaking down what holding $100 of Bitcoin from 2010 to today would’ve actually looked like. It wasn’t just a straight line to riches.
“If you bought $100 of Bitcoin in 2010 and watched it go to $1k → $100k → $1.7M… then to $170K… then back to $110M… then down to $18M… then up to $390M… then back to $85M… then $1.6B… then down again… and still did nothing… only then you’d have $2.8B today.”
This isn’t a success story. It’s a psychological horror film.
To achieve that kind of return, you would have needed to watch your wealth explode and collapse repeatedly — and never sell. Most people would have tapped out long before reaching even a fraction of the final number.
Why Most Bitcoin Buyers Wouldn’t Have Made It
In response to the tweet, user Anatoli Kopadze captured the core issue.
And he’s probably right.
The truth is, buying early was the easy part. Holding was the real challenge. Between 2011 and 2025, Bitcoin went through multiple crashes of 80% or more, each one convincing the market that the bubble had finally burst.
It wasn’t just fear. There was no real infrastructure, no institutional support, and constant media attacks calling Bitcoin a scam or Ponzi. Holding on required irrational conviction or absolute ignorance.
The Data: Volatility Was the Rule, Not the Exception
The long-term chart from Curvo makes the story crystal clear:
Source: Curvo
Bitcoin’s rise looks smooth only from a distance. In reality, it was a violent rollercoaster with heart-stopping plunges. Between 2017 and 2023 alone, the asset dropped over 70% multiple times before reclaiming new highs.
Even more striking are the statistics:
- 99.25% compound annual growth rate
- 150.77% standard deviation
- 0.82 Sharpe ratio
These numbers tell us one thing: the returns were real, but the volatility was brutal. Most investors simply aren’t wired to handle that level of emotional pressure — especially over 10+ years.
The Real Story of Bitcoin Buyers
So what’s the truth behind the myth?
It’s not that early bitcoin buyers didn’t make money. It’s that most of them didn’t make it to the end. They sold too early, panicked in crashes, or lost conviction when the world turned against crypto.
Some got rich. Most didn’t. And even fewer held until 2025.
That’s why the idea of “I would’ve been rich if I bought Bitcoin in 2010” misses the point entirely. Anyone can buy. Very few can hold.
Final Thoughts: It Was Never Just About Timing
The next time someone regrets not buying Bitcoin in 2010, remind them of this:
Yes, timing matters. But time in the market matters more — and that includes surviving brutal drawdowns, media FUD, market crashes, and your own doubts.The truth about bitcoin buyers is clear:
Being early doesn’t make you rich. Staying in makes you legendary.
