Your favorite crypto news blog

Bitcoin Dubbed The Best Performing Asset Of The Decade

Bitcoin 2019/12/30 19:54 by Jide Idowu
Bitcoin Dubbed The Best Performing Asset Of The Decade

Interestingly, as the bitcoin cryptocurrency gained popularity, so did its value increase exponentially.

According to a recent report by the Bank of America Securities, it was noted that a dollar worth of investment in bitcoin 10 years back, would be a $90,000 today.

Bitcoin So Far

Bitcoin, launched in 2009 was worth nothing since it wasn’t traded on any exchange at that time which would determine its worth. About a year later, early 2010, came the first-ever real use of the crypto asset, when Laszlo Hanyecz purchased pizzas using bitcoins for 10,000 BTCs.

Interestingly, a lot has happened after that, with more and more people recognizing the crypto asset for what it’s designed to be (a medium of exchange) and also as a store of value.

In mid-2017, bitcoin value started recording huge jumps. Though the asset was priced about a thousand dollars ($1,000) at the beginning of 2017, it attained its highest price ever, about $20,000. Despite a 65% drop from its peak down to $7,000, bitcoin is still regarded as the best performing investment instrument of the decade.

Bitcoin, A Decade From Now

There’s been a lot of speculations about where bitcoin would be short term to long term. If bitcoin could do this much in 10 years, it’s even able to do much more in 10 years from now.

The popular American software guru turned crypto enthusiast, John McAfee, has in the past forecasted bitcoin to hit a million dollars ($1,000,000) in the first year of the next decade. He even promised to feast on his genitals if this doesn’t happen.

Tim Draper, a popular face in the crypto world, also predicts bitcoin to hit $250,000 in the first quarter of the next decade. This, he says will be boosted by the bitcoin lightning network.

The post Bitcoin Dubbed The Best Performing Asset Of The Decade appeared first on ZyCrypto.

2 Like(s)

You should also read...

Bitcoin 22/11/19 15:44 by Tony Spilotro
What Bull Run? Bitcoin Price Blasts Below $7,000
Following an incredible parabolic rally and recovery during the first half of the year in 2019, Bitcoin price has spent the second half of the year in an ongoing downtrend that has taken the price of ...
Read More
Bitcoin 28/11/19 22:30 by Nick Chong
Going to Talk Bitcoin at Thanksgiving? Here’s a Good Strategy
For some reason or another, discussing Bitcoin at the Thanksgiving dinner table has become somewhat of a meme. Thanksgiving, after all, is when you spend time with the closest people in your life, the...
Read More
Bitcoin 29/11/19 17:59 by Tony Spilotro
Accurate Trader Calls For $1K Bitcoin and Destruction of Crypto Industry
It’s almost been two full years since the crypto hype bubble, and the leading crypto asset by market cap, Bitcoin is trading at roughly 35% of the price it reached during that peak, while the rest o...
Read More
Bitcoin 03/12/19 05:00 by Martin Young
Bitcoin Bears Back as Sentiment Wanes, Will BTC Drop to $6,000?
Following a positive week in which Bitcoin made a solid 18% the bears appear to be returning in force. Sentiment is turning negative once again as hopes of a Christmas rally start to dwindle and analy...
Read More
Bitcoin 03/12/19 18:00 by Tony Spilotro
Bah Humbug! If Bitcoin Bulls Can’t Reclaim $7,800 It’s Coal For Christmas
All bulls want for Christmas this holiday season is to push Bitcoin price higher and prevent a further downtrend back into a full-blown bear market. But unless Bitcoin price can reclaim key support at...
Read More