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Bitcoin's 9,000 Percent High this Decade Horrifies Skeptics

by ace
Bitcoin's 9,000 Percent High this Decade Horrifies Skeptics

economy

10:52 31.12.2019 (updated 11:47 31.12.2019) Short URL

Bitcoin is the best performing asset of the decade, despite skepticism and state regulation.

Initially viewed as a speculative tool designed to prevent investments in financial institutions in the post-crisis period of 2008, bitcoin turned out to be quite resilient and achieved the highest appreciation among assets in the decade ending Tuesday (31).

The world's leading digital currency, currently estimated at $ 7,200, has accumulated gains of nearly 9,000,000% since July 2010, as reported. reported to Bloomberg.

"Bitcoin really managed to capture that heady technological enthusiasm that 'this time is different,'" said Financial Insyghts President Peter Atwater.

Despite the stratospheric number, the performance of recent years has not been uniform. The price of the currency has fallen sharply, leading many analysts to doubt the longevity of the asset.

But the price of bitcoin has grown at much higher margins than other assets. In the same period, the S&P 500 grew only three times. Even gold has accumulated lower growth, around 25%.

The other top-performing assets of the decade – Exact Sciences Corp. and Intelligent Systems Corp. saw an increase of 3,000%, much lower than the digital currency.

Created in October 2008 by Japanese Satoshi Nakamoto, the currency was slow to gain global acceptance.

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                    AP Photo / Kin Cheung

Bitcoin ATM in public area, Hong Kong

At the beginning of 2017, the currency was worth about $ 1,000. By July of that year, the price had already doubled. In December, cryptocurrency reached $ 14,000.

But after this euphoria, prices fell at the same rate. At the end of 2018, cryptocurrency plummeted to $ 3,000 (about $ 12,060), and recovered only after almost a year, when it reached the $ 13,000 mark.

Despite the good performance, the currency's acceptance as a medium of exchange fell short of expectations. Despite being a cryptocurrency, bitcoin increasingly behaves like an action if not for its above-average performance.

. (tagsToTranslate) Best Active Bitcoin of the Decade (t) Cryptocurrencies (t) Digital Currency Performance

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