From 2013 to 2024, Bitcoin provided investors with 1,000-fold returns, turning a $1,000 investment into over $1 million today. An investor now predicts Bitcoin could reach $21 million by 2046. While up 25% this year, Bitcoin has faced challenges in what could be its toughest bull-market year yet, but it still has the potential to create new millionaires.

Eric Trump calls Bitcoin “the truly greatest asset of our time,” highlighting its unique risk-return profile and likening it to modern-day gold. BlackRock also sees Bitcoin as a diversifier with the potential for strong growth. Despite its volatility, Bitcoin has shown the ability to soar in value, making it an attractive investment option.

To become a crypto millionaire, one simply needs to invest $1,000 in a cryptocurrency with 1,000-fold upside potential and wait for it to reach $1 million. Bitcoin, which saw massive growth over the past decade, may not have another 1,000-fold run in its future, but experts like Michael Saylor believe it could hit $21 million in the next 21 years.

While the idea of turning $5,000 into $1 million with Bitcoin may seem far-fetched, the math suggests it’s possible with annual growth rates similar to those seen in the past. The key is to have the patience and resilience to navigate Bitcoin’s boom and bust cycles, with a long-term buy-and-hold strategy potentially leading to millionaire status.

Before investing $1,000 in Bitcoin, consider other opportunities identified by the Motley Fool Stock Advisor team. While Bitcoin has its appeal, the 10 stocks recommended by the team could offer significant returns in the coming years. Historically, Stock Advisor has outperformed the market, making it worth exploring alternative investment options.

Disclaimer: The author holds positions in Bitcoin, and the Motley Fool recommends and has positions in Bitcoin. The views expressed are personal and not necessarily reflective of Nasdaq, Inc.

Read more at Nasdaq: How Bitcoin Could Help You Retire a Millionaire