Stat Shows If Americans Bought Bitcoin Instead Of Lottery Tickets, They Could’ve Been Millionaires
A question that arguably rings in most people’s minds is, “What if I’d invested in Bitcoin back then?”
It may be hard to spot valuable assets, especially when they challenge the status quo. However, for many Americans, after seeing these statistics, they’ll wish they could have invested in Bitcoin.
Bitcoin A Superior Investment Than Lottery Tickets
Americans spend $72B annually on lottery tickets. Most players are from the lowest economic class.
Households w/ incomes <$30k spend $412 PER YEAR on lottery tickets.
Here is the net-worth today by start year if they dollar cost averaged $412 into bitcoin instead. $BTC #bitcoin pic.twitter.com/5bFrFr42wp
— James Todaro (@JamesTodaroMD) October 29, 2019
The tweet above describes what appears to be a poor investment choice by the American people. Considering the percentage value Bitcoin has gained since 2009, many Americans could now be better off had they put their trust in the cryptocurrency.
An average investment of $412 per year from the time Bitcoin started trading would have even made some Americans millionaires.
As things stand, it is still advisable to purchase Bitcoin over lottery tickets. Sure, lottery tickets may be cheaper; however, if you lose, you lose everything. With Bitcoin, losses are only a fraction of what was initially invested, and gains could be massive if you play your cards right.
Moreover, there’s a higher probability of making money from Bitcoin than winning the lottery.
Imagine if that qas pumped into crypto… everyone would get a share of an ROI !!!! XRP BTC
— Lady Crypt-O-Lot (@cryptopumpalot) October 29, 2019
What About Gold?
When it comes to deciding between Bitcoin and gold, it’s a no-brainer.
Because of the price movements Bitcoin experiences throughout the year, it is a more rewarding investment compared to gold. 2019 is not yet over, but its already clear that Bitcoin is going to outperform gold.
Further, Bitcoin mining will soon halt, and the available supply will remain to decrease daily compared to demand.
Apart from its expected positive performance in the future, Bitcoin also has a certain appeal, as mentioned in the tweet below.
Just FYI if you bought 10k of BTC approx 10 years ago it would be world 26 billion. Gold $15,000 https://t.co/2GdyfMi9Ha
— Ben Askren (@Benaskren) September 27, 2019
Despite being valuable, gold lacks the functionality of Bitcoin, thus making it better.
When investing, consider everything lest you miss the next big break!
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at news@blockspectator.com