BITCOIN — Top investment of the decade, turned $1 into $ 300,000.
if you had bought $1 of BTC in 2010, at the end of 2020 you would have had $ 30000.
A Bitcoin is currently valued at about $32,000. While that’s below its peak price of $42000 around two weeks ago when total cryptocurrency market capitalization surged to record $1 Trillion on January 7th, as Bitcoin surged to its new all-time high (Previous record of $835 billion was on January 7th, 2018).
Bitcoin remains a highly speculative investment, but it has soared during the past decade as it emerged as the most-popular and widely accepted cryptocurrency.
More retailers are accepting bitcoin as a form of payment, and several investment firms and exchanges have launched futures trading for bitcoin, a move that helped legitimize it.
Last decade has been a wild decade for the stock market, but Bitcoin has been the star investment despite the trade war between the United States and China and COVID19 pandemic.
GOLD vs. BITCOIN during last decade.
$1 of gold in 2010 was worth $2 at the end of the 2020. Gold is widely regarded as a safe haven asset, which by definition means an investment that retains or increases its value amidst market turbulence and economic certainty, over time. In the past seven years, gold hasn’t met either of the two descriptions. Gold has failed to sustain its value over a seven-year period and has failed to see an increase in its value. Thus, whether gold can still be considered as a safe haven asset is quite unclear.
Bitcoin could be perceived as Gold 2.0 (or digital gold) due to its characteristics. Unlike gold, Bitcoin can sustain its value or even record an increase in its value over time because of its fixed supply of 21 mln coins. Instead, If a massive gold supply is discovered, then gold could become inflationary in terms of supply and could hinder its mid-term value.
More importantly, Bitcoin’s ownership is evidently portrayed with the utilization of cryptography. Hence, Bitcoin can’t be seized by a central entity because the Bitcoin network itself is decentralized and unalterable.
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