Bitcoin Gained 8.9 Million Percent Over the Last Decade – Bitcoin News

2020 is fast approaching and the last decade will be behind us. Throughout the last ten years, the biggest unicorn firms were born like Uber and Airbnb. However, even though Bitcoin isnt a company, the best investment of the decade belongs to the decentralized cryptocurrency Satoshi created. In fact, Bank of Americas recent securities report highlights that an investment of $1 in bitcoin at the start of 2010 would now be worth more than $90,000.

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This week, a great number of people are reminiscing about the last ten years and a slew of individuals understand that the advent of Bitcoin was quite significant during this period of time. The most valuable startup of the last decade didnt raise money, didnt have employees, gave away the cap table, and let anyone invest, said the popular philosopher Naval Ravikant. Besides Ravikants opinion, theres data that shows bitcoin was the best investment during the last decade.

Bank of Americas recent securities paper explains that between 2010 and 2020, oil has weakened and negative interest rates have been good for gold markets. But if a person invested $1 in bitcoin in 2010, it would be worth well over $90k today, BoAs report underlined. Because of bitcoins great performance record, the decentralized asset has surpassed every investment vehicle in the last ten years.

Now lets just say someone followed gold bug Peter Schiffs advice and invested in gold in 2010, which was trading for $1,113 per Troy ounce at the years open. Ten years later, gold has done well for itself touching a high of $1,542 per ounce and thats a fairly decent +38% gain. In the last decade bitcoin, however, has gained a whopping +8,999,900% and this year alone, BTC has outpaced golds market performance in the last ten years. In 2019, BTC has gained +96% compared to golds +10.8% increase.

Besides precious metals, if Bitcoin was a company it also outpaced investments in the most profitable unicorn businesses created in the last decade. Profitable startups throughout 2010 and 2020 include Uber, Facebook, Airbnb, Snapchat, Spacex, Tesla, and Pinterest but an investment in bitcoin surpasses all these public stocks by a long shot. For example, if you compare the +8.9 million percent BTC gain to investments in Netflix (+4,177%), Amazon (+1,787%), Apple (+966%), Microsoft (+556%), Disney (+423%) and Google (+335%), numbers show there is no comparison. The angel investor and former CTO of Coinbase, Balaji Srinivasan, recently explained his thoughts about the cryptocurrency revolution during the last decade compared to the decades unicorn firms.

As the decade ends, the biggest unicorn of the 2010s wasnt Uber, Airbnb, or Snap It was Bitcoin, Srinivasan tweeted. Please note that all three of these [companies] and many other unicorns are great companies I take nothing away from them. But to my knowledge, nothing else founded in the same timeframe held at $100 billion for a longer time. Srinivasan added:

From an investor standpoint, this is important to know.

A number of crypto proponents agree with Srinivasan and Ravikants statements about cryptocurrencies throughout the last ten years and the subject is often discussed on forums and social media. Replying to Srinivasans tweet, former Bitcoin Foundation director Bruce Fenton said:

[Bitcoin did all of this] without a centralized marketing fund, no salespeople, no roadshow people pitching sovereign wealth funds or family offices and no fundraise or premine.

Even though the digital asset was the best investment of the decade, it also provided significant innovation, financial disruption, and changed the way people perceive money. People can bypass corporations, financial institutions, and governments in a censorship-resistant fashion like never before. Its safe to say that cryptocurrency innovation will make the next ten years quite revolutionary.

What do you think about how bitcoin is the best investment in the last decade? Let us know what you think about this subject in the comments section below.

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Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

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Bitcoin Gained 8.9 Million Percent Over the Last Decade - Bitcoin News