What would happen if you bought 1 TL worth of Bitcoin every day for the last 9 years?

Recently, the price of Bitcoin has increased against the Turkish lira. 1 million TL passed. Currently, the Bitcoin price against the dollar is still well behind the ATH (all-time high) of around $69,000 it last hit in November 2021, but against the Turkish lira. record after record It breaks.

Price of 1 Bitcoin last week 1,095,728 Turkish lira rose. This upward movement continues thanks to the increasing dollar-TL exchange rate.

Buying 1 lira of Bitcoin every day for the last 9 years You may not have thought of it, or you may have thought about it and thought, who will bother? Actually this Dollar Cost Average It is an investment strategy translated into Turkish as Dollar Cost Averaging (DCA). Most banks, stock exchanges and cryptocurrency exchanges provide this service today.

Someone who bought 1 TL worth of Bitcoin every day for 9 years would almost be a millionaire today.

Although such services were not very common in those years, buying 1 TL Bitcoin daily was the most popular option. 5 minutes of your time and in return, thanks to the rising price of Bitcoin, almost you would be a millionaire.

Your total investment in 9 years 3,287 Turkish lira and the value of your portfolio according to calculations made from today’s Bitcoin price 911,929.68 Turkish lira it would happen. So you would have almost 1 Bitcoin.

Is it right to do a Dollar Cost Averaging strategy?

This experimental research is mostly early Bitcoin investor to be and buy every day Contains. However, the Dollar Cost Averaging strategy is a proven investment strategy.

This strategy is for the long term daily or monthly It can be done as. It is recommended to apply with low amounts or the amount that investors can afford to lose. It protects investors from sharp price movements. It can also be applied to average balancing in terms of portfolio management.

Our other content about cryptocurrencies: