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    Home News Ethereum News

    Bitcoin Closes 2020 As Best Performing Asset Of The Last Decade

    Andy K by Andy K
    January 1, 2021
    in Ethereum News
    Reading Time: 5min read
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    Bitcoin Closes 2020 As Best Performing Asset Of The Last Decade
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    Today is the last day of 2020 — a year so many are ready to say goodbye to and never look back at. But for Bitcoin, the cryptocurrency is about to close out its most important year yet. 

    At the same time, the asset also closes the last ten years as the best performing asset since 2011, underscoring a decade of growth that is only just beginning. Here’s how Bitcoin stacked up against the rest of the world of finance over the last decade. 

    From Early Bitcoin Beginnings To Now

    The Bitcoin white paper was first distributed in 2008, and the genesis block that began it all was mined in 2009. In 2010, the first well-known commercial transaction involving BTC and two pizzas took place. 


    Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now!

    But it was 2011 when the asset rose to over $1 and started to be widely used as a currency — primarily for transactions on the Silk Road dark web marketplace. 

    Related Reading | Analyst: Bitcoin Parabolic Trend Is “Close To A Breakdown”

    From there, it has continued to be used as such but also has taken on many other use cases as its market cap has grown. Today, in 2020, institutions, billionaires, celebrities, and corporations are now buying BTC to store value and hedge against inflation. 

    bitcoin history 2020

    bitcoin history 2020

    Bitcoin's entire history of price action | Source: BLX on TradingView.com

    How The Cryptocurrency Compares Over The Last Decade

    From the asset’s early days in 2011 as an emerging form of peer to peer electronic cash to the current digital gold narrative, the price per BTC has grown to just under $30,000.

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    Data shows that the cryptocurrency has outperformed every other asset over the last ten years, with a staggering 6 million percent increase. This equates to over 200% annualized returns, with the next best performer being the Nasdaq 100 at just 20% annualized returns. 

    All assets compared in over the last ten years | Source: Charlie Bilello

    Looking at it from the perspective that the asset has already grown from under $1 to $30,000 and over 6,000,000% gives the false impression that’s it’s too late to invest in Bitcoin. But because of the cryptocurrency’s potential and promise, it could ultimately reach prices of hundreds of thousands to millions per <span class="wpg-tooltip-term-title">Coin</span></h3><div class="wpg-tooltip-content">A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/coin/">» Read more</a><p></div>”>coin. 

    Related Reading | Bitcoin Dominance Doji: Why 2021 Could Spell Doom For Altcoins

    Some of the most brilliant investors alive claim getting into Bitcoin even now is like investing in Google or Apple early. Just as many naysayers exist, however, but people often don’t agree with what they cannot understand. 

    Others have compared Bitcoin to the internet, and like that technology — including email, websites, and more — was all demonized at first and thought to never replace existing systems. 

    Is the same fate as the internet ahead for Bitcoin as the asset’s most important year and it’s first full decade beyond proof of concept stage?

    Featured image from Deposit Photos, Charts from TradingView.com
    Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd

    Read More From Original Source

    Tags: bitcoinBTCBTCUSDbtcusdtCryptoXBTxbtusd
    Share1622Tweet1014
    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

    Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

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