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Bitcoin

Bitcoin closes 2020 as best performing asset

At the same time, the asset also closes the last ten years as the best performing asset since 2011, reinforcing a decade of growth that has just begun. That’s how Bitcoin compares to the rest of the finance world in the past decade.

From the beginning of Bitcoin until now

The Bitcoin white paper was first distributed in 2008, and the genesis block which started everything was extracted in 2009. In 2010, the first known commercial transaction took place involving BTC and two pizzas.

But it was in 2011 when the asset rose to more than $ 1 and started to be widely used as a currency – mainly for transactions in the Dark Web market of Silk Road.

From there, it continued to be used as such, but it also took on many other use cases as its market capitalization grew. Today, in 2020, institutions, billionaires, celebrities and corporations are buying BTC to store value and protect against inflation.

The whole history of the Bitcoin price action | Source: BLX at TradingView.com

How cryptocurrency compares over the past decade

From the early days of the asset in 2011 as an emerging form of point-to-point digital money to the current digital narrative of gold, the price per BTC has grown to just under $ 30,000.

The data shows that the cryptocurrency has outpaced all other assets in the past ten years, with an impressive 6 million percent increase. This equates to more than 200% annualized returns, with the next best performance being the Nasdaq 100 with annualized returns of just 20%.

Bitcoin closes 2020 as best performing asset 22
All assets compared in the last ten years | Source: Charlie Bilello

Looking from the perspective that the asset has already grown from less than $ 1 to $ 30,000 and more than 6,000,000%, it gives the false impression that it is too late to invest in Bitcoin. But due to the potential and promise of the cryptocurrency, it could reach prices in the hundreds of thousands to millions per currency.

Some of the brightest living investors claim that entering Bitcoin even now is like investing in Google or Apple. However, there are many opponents, but people generally disagree with what they cannot understand.

Others compared Bitcoin to the Internet, and how this technology – including email, websites and more – was all demonized at first and was designed to never replace existing systems.

Is the same fate that the Internet is ahead for Bitcoin the most important year of the asset and its first full decade beyond the proof of concept stage?

Source: NewsBTC

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