Good for you! It's up to $1.25 now :D
..but who knows where it will end up!
Whether it's a good investment, I don't know....but right now, I don't intend on selling my steem power ever! :)
If it were to drop to say $0.20, I would be very tempted to double my investment too ;)
Hopefully Steem will end up just like BTC! $2300 or even more! :) So if you say so, I'm just gonna set my buying order to $0.20 and wait to see what will happen :)
I'd be pretty happy with $10 steem 😀
But in all seriousness, steem is like bitcoin in the sense that there will always be some sell presure (for the near future), since some proportion of the users will use the platform for a work only purpose, I.e., post articles, earn money, and sell steem because that's needed for income. So if the price were to rise too much, this sell presure would increase; but equally if the price falls very low then the sell presure is reduced until at some point it can't go down any more.
I'm principally an investor though, and with the number of users increasing I'm hopeful that this can generate a network effect which would cause more people to want to buy and hold steem.