CANNY Bitcoin investors have revealed they will not cash in on their investments until the price per unit tops £150,000.
As the value of the crypto-currency – today worth around $12,250 (£9,500) – continues to soar, long-term punters say they are more than happy to hold onto their booty.
The currency has gained roughly 10 times in value since the start of the year and it continues to shatter records month after month.
Now a new report, published by loan firm LendEDU, details the results of a survey of investors which reveals how they plan to treat their holdings going forward.
BIT OF KNOWLEDGE Champions of Bitcoin say it’s just like real money – but is it REALLY just a way for the rich to get a lot, lot richer?
And it reveals the average amount investors surveyed indicated they would choose to sell at was just shy of $200,000 or £150,000 a coin.
Some of those investors are believed to have bought the coins when they were being sold for relative peanuts.
Up until just 12 months ago, the price for a single Bitcoin was around £500 – they are now worth TWENTY TIMES that.
This is in keeping with statistics revealing "the majority of investors, 67.38%, have not sold any of their Bitcoin investments since purchasing".
Just over 16 per cent said they planned to sell within a year, while 20 per cent said they would hold onto Bitcoin for at least seven years.
Where's a time machine when you need one?
Feb 9, 2011 Britcoin price hits one dollar for the first time $1.20
Dec 19, 2011 US TV show 'The Good Wife' airs Bitcoin episode – $3.41
Nov 12, 2012 WordPress accepts Bitcoin – $11.04
Nov 13, 2013 US Senate holds Bitcoin hearing -$685.75
Nov 9, 2016 Trump elected as President – $726.36
Jan 3, 2017 Bitcoin value breaks $1,000
March 3, 2017 It exceeds value of ounce of gold $1,268
Nov 29, 2017 Record high for one Bitcoin $10,740
Dec 6, 2017 Today's value stands at $12,748
According to the survey, around 40 per cent of participants indicated they had decided to invest ibecause they believe it to be a "world-changing technology" which would alter the face of the business.
Another 21 per cent suggested that they had bought Bitcoin because it is "a long term store of value, like gold or silver".
Yesterday we told how the twins who once sued Mark Zuckerberg claiming he stole their idea for Facebook are now reportedly worth more than $1bn after cashing in on the rise of Bitcoin.
Tyler and Cameron Winklevoss's $11m (£8m) stake in the crypto-currency four years ago has rocketed by almost 10,000 per cent after last week’s record price surge.
We also revealed how popstar Lily Allen turned down the offer to play a gig in 2009 for 200,000 Bitcoins which would have made her a billionaire today.
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