Was Buying Bitcoin a Little Every Month Worth It? A Look at History
Buying a fixed amount at regular intervals is called DCA, dollar-cost averaging. We ran it on real prices to see how it ended and what you had to sit through on the way.
What DCA is
You buy a fixed dollar amount of an asset at regular intervals and ignore the price. When the price is low, the same amount buys more coins; when it is high, fewer. The question “is it expensive or cheap right now?” takes care of itself.
How we calculated it
A $100 purchase at the end of each month at the month-end price. Data from Yahoo Finance, calculated through early October 2026. Exchange fees are not included.
Three scenarios
| First purchase | Invested | Worth now | Growth | Worst moment |
|---|---|---|---|---|
| December 2014 | $14,200 | ≈ $696,000 | ×49 | −32% |
| December 2017, peak | $10,600 | ≈ $55,400 | ×5.2 | −49% |
| October 2021, peak | $6,000 | ≈ $11,800 | ×2.0 | −54% |
“Worst moment” is the largest gap between the value of the coins and the amount invested. All three cases end positive, even when starting exactly at a peak.
What you had to sit through
- Starting at the 2017 peak. For sixteen months in a row the account was worth less than what went in. In January 2019, $1,300 invested was worth about $660.
- Starting at the 2021 peak. Again sixteen months in a row in the red. In June 2022, $800 invested was worth about $365. The account only got back above water for good in autumn 2023.
The figure in the last column of the table is the real price of this strategy: watching minus 50% for more than a year and continuing to buy.
DCA versus buying everything at once
Averaging does not guarantee a higher return — it shortens the time spent in the red.
- The 2021 peak. A one-off purchase stayed at a loss until March 2024 and is now up 1.4 times. Regular purchases are up 2 times.
- The 2017 peak. A one-off purchase was at a loss for almost three years, until November 2020, yet is now up 6 times versus 5.2 for regular purchases.
Compared with stocks
The same $100 a month into the S&P 500 since December 2014 became about $37,400 — up 2.6 times. But the worst moment was only −6%. From the 2021 peak: up 1.6 times with a worst moment of −16%.
Build a mix of stocks and bitcoin and see its drawdowns.
Portfolio Risk →What these numbers do not tell you
- This is the past. The last twelve years were exceptional for bitcoin. Nobody promises a repeat.
- The asset can fall for a long time. Bitcoin has already dropped 75–80%, and deeper falls are possible.
- Fees are not included. With small, frequent purchases they add up.
- We used month-end prices. Within a month prices went both higher and lower.
Bybit is one of the large crypto exchanges. Crypto is high risk: only invest money you can afford to lose.
Affiliate link: if you sign up through it, SK Invest may earn a reward. Not financial advice.
Open Bybit →Calculate a one-off investment in bitcoin or the S&P 500 in past years.
What If →Past results do not guarantee future returns. This article is educational and is not financial advice.