If You Bought Bitcoin At $387 A Decade Ago, You Would Now Have More Than 2X The Average US Retirement Savings

Bitcoin BTC/USD has been on a record-breaking run since Donald Trump was elected president earlier this month.

The leading cryptocurrency has been hitting new all-time highs practically every day, with the latest upswing pushing it beyond $94,000 for the first time.

Interestingly, the bullish run has made one Bitcoin worth more than the average retirement savings of Americans.

What happened: According to the Federal Reserve’s most recent Survey of Consumer Finances, the median retirement savings in the U.S. was estimated to be $86,900. This reflected an increase of 15% from 2019. 

A separate study by Transamerica Center in 2023 revealed that millennials, those born between 1981 and 1996, saved only $49,000 in retirement funds, while Generation X, born between 1965 and 1980, saved $82,000.

See Also: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.

In contrast, the value of Bitcoin has leapfrogged 23,853% in the last decade, rising from $387 in Nov. 2014 to $92,696 as of this writing.

So, if someone bought $1,000 in Bitcoin ten years ago, their investment would now be worth $239,524, more than twice the estimated retirement savings highlighted above.  

Additionally, a report disclosed that the average U.S. adult estimates needing $1.46 million to retire “comfortably” in 2024, with Gen Z and Millennials needing more than $1.6 million. 

If they invested around $10,000 of their wealth into Bitcoin 10 years ago, their stockpile would have been worth more than $2.39 million today. 

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

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