With all the interest in cryptos, many people want to know can bitcoin make you rich? Of course, there is no easy answer to this question, and it might be worth talking about what 'rich' means. While Bitcoin has gone up by a substantial amount over the past decade, there is no guarantee that will will continue to do so.
Bitcoin has been an amazing investment, and anyone that bought it before 2017 is sitting on some incredible gains. We should not think that these kinds of gains are normal.
It is important to note that most professional investment managers would be legends if they were able to produce an average annual gain of +25% per year. With the gains that Bitcoin has created over the past 10 years, early adopters were able to create returns that are very rare.
Now, the likelihood of the same kinds of massive profits are lower. The price increase of Bitcoin over the past decade was an anomaly in the financial markets, and betting on it happening again is risky.
No one knows what the future holds, and Bitcoin may be able to multiply its price many times over, again. Be careful with your expectations, and understand that buying an asset with the hopes that it will make you rich is likely to leave you feeling bad, because 'rich' isn't a number.
Check our guide of the most promising crypto