Back in May 2016, Bitcoin had just crashed from its 2013 peak of $1,200 to around $450. Yet the community was already dreaming of five-digit prices, spurred by Tim Draper's prediction of $10,000 per coin. Bitcoin.com conducted an experiment asking enthusiasts what they would do if the price reached that milestone. Years later, Bitcoin has surpassed $10,000 many times and even hit nearly $70,000, giving these old answers a fascinating context.
“HODL” Faction: Hold Forever, Never Touch Fiat
Many expressed unwavering faith. Brenda said, “If it were a gradual increase, I would not sell. In 10 years, they could be worth a million each.” Tim declared, “If Bitcoin hit $10,000 per BTC I would keep it in the blockchain and hopefully never touch fiat again!” Sarah simply said, “Definitely HODL. I would buy some stuff with my Bitcoin but refuse to use Euros.”
“Cash Out” Faction: Take Profits, Pay Debts, Invest
Others planned to exit. Nic would “sell in a heartbeat and put the money earned away in savings / pay off debts.” Juan Carlos wanted to “cash out, and wait for a deep or correction price.” Andy joked, “I would cash-out ten coins and then go on a one year vacation.” Brian would sell half and use technical analysis to buy back later.
“Diversify” Faction: Spread into Gold, Real Estate, Alts
Some intended to reallocate. Stephen said, “I would take what I need short term in fiat and then spend a bit on alts, gold and silver.” Jeremy would “put 10% into bitgold and order some gold cubes.” Joby went further: “I’d buy cash generating real estate in a tax haven country so I could get another passport.”
“Bubble” Faction: Fear of Mania, Ready to Flee
Not everyone was blindly optimistic. Philip warned, “If it randomly jumped to $10,000, that says BUBBLE. I’d be selling all my BTC and awaiting the almost certain price collapse.” David took a philosophical view: “The symbolic meaning of a nice round number in base ten is entirely psychological. I wouldn’t especially do anything different than today.”
Today, Bitcoin has far exceeded $10,000, peaking at around $69,000 in 2021. Those who held have seen extraordinary gains; those who feared bubbles missed out. Yet the diversity of responses in 2016 reveals the rich tapestry of early Bitcoin believers—some idealists, some pragmatists, some speculators. As one enthusiast put it, “We are at the very beginning of this change.”