Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at a recent post I saw on Twitter, where an offer of 50,000 Bitcoin was refused for the purchase of an apartment back in 2015.
50,000 Bitcoin Offer
Within the post for @historyinmemes we get to witness a 34 second clip. Within it goes through an offer being made for a 2 bedroom apartment. The apartment is listed at a price of $14 million and the offer of 50,000 Bitcoin at the time would have been equal to just over $13 million. Interestingly, the offer is clearly rebuffed and refused due to falling short of the overall asking price.
However, like many who don't consider the long term potential value of Bitcoin, it is quite clear that additional profit could have been made since 2015 had the offer been accepted. Firstly, its easy to say in hindsight that "oh if that had accepted 50,000 Bitcoin back then they would be billionaires today." Correct, 50,000 Bitcoin today would be around $3.5 Billion, but even if they had accepted it what are the chances they would have held all 50,000 Bitcoin long-term?
More than likely some of the Bitcoin, maybe half or even most, would have been sold to cover costs and fees in terms of selling the 2 bedroom apartment in the first place. Then there is the fact the person or people selling may have been looking to purchase new property elsewhere, again requiring FIAT currency or having to purchase via their Bitcoin. Whatever the scenario, I feel the posts stating this person would have 'X or Y' amount of cash if they had held on to be not only annoying, but outside the concepts of reality.
Had the 2 bedroom apartment been sold for 50,000 Bitcoin then certainly there would be tax due on its sale along with all the other costs during the process. Bitcoin closed out the year 2015 valued at around $430, but given that 50,000 Bitcoin was about $13 million in this video, then at the time of the offer Bitcoin was valued around $260. Amazingly they could have indeed made a profit even before the end of the 2015 calendar year, or at least some profit along the way, but for anybody to claim they could or should have held all 50,000 Bitcoin and became billionaires seems a bit off.
Everything is easy in hindsight, and often the conditions of the time are not taken into consideration. Many will claim they would have sold the apartment for the Bitcoin when looking back almost a decade later. Would they really have? Would they have actually managed to retain the 50,000 Bitcoin to make bigger profits down the line? Whatever scenario you feel would be applicable, the likelihood is that one would not even have gotten close to a billion from selling the 50,000 Bitcoin as they would likely have sold in increments along the way. Its a nice dream, but unfortunately the reality is often much different.
Let's just hope the person who offered the 50,000 Bitcoin managed to hold onto them and make their own profits down the line.
Have a great day.
Peace. CryptoGod-1.
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