Bitcoin Was the Best Investment of the Decade 2010 to 2020
For the lucky few that believed in something like blockchain and digital assets based on a pyramid-like demand scheme, the best investment of the last decade appears to have been Bitcoin.
Some of the last remaining crypto influencers of course won’t have you forget that fact!
Bitcoin was the best investment of the decade.
While all the haters and detractors kept making noise, Bitcoin kept doing exactly what it was designed to do.
— Pomp 🌪 (@APompliano) December 17, 2019
It’s 2020 and the entire internet has devolved into headline bait and the crypto winter is real, even if Bitcoin is almost double what it was worth a year ago. However, let’s say you got into Bitcoin early, like really early.
$1 in BTC at the start of 2010 would now be worth around $90,000
Although XRP Ripple and other cryptos are at historic lows, ICOs are dead and China is implementing a centralized digital RMB, some aspects of crypto made a few people a lot of money.
So the headline of the week with regards to Bitcoin is yes, it’s the best investment you could have made in 2010. CNN backed its claim with numbers provided by Bank of America Securities, which showed a tiny $1 investment in Bitcoin at the start of 2010 would be worth more than $90,000 today .
Doom and Gloom for Crypto Continues into the 2020s
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. In fact, all other cryptos are tethered to its own price. It’s a very weird investment category that’s anything but mature or regulated properly in 2020.
The Rise of Speculative Investments and Digital Assets
Today 1 Bitcoin is worth $6,882 dollars. China and ponzi schemes are blamed as the new reasons for its severely low price. While many real investors see Bitcoin as a ponzi scheme of the digital age of its own scale and meme-like cultural phenomenon. Everyone from Silicon Valley tycoons to your grand kid seems to have bought into it. Investment class? Not really.
While CNBC likes to cover negative news on Bitcoin, the same sad story goes that 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. Will 2020 be any different for Bitcoin’s fortunes?
Gold, however, was reportedly the top commodity of the 2010s (aside from Bitcoin, of course). Will Bitcoin persist as a kind of “digital gold”? Do speculative assets have a future? The stock market is more bullish than anytime in recent memory and the crypto winter is sucking the life out of blockchain innovation anywhere outside of China.
Was the Crypto Movement Too Good to Be True?
How Bitcoin can survive the 2020s is not clear. While BTC’s value indeed went from fractions of a penny to thousands of dollars today, it’ll surely be hard to defend its title of “best investment of the decade”. Crypto has been outlawed, a large percentage of ICOs were fraudulent without live products, and the rest may be history.
Was crypto a fraudulent side quest of digital transformation gone wrong or something else? While the dream of decentralization has been killed, what aspects of blockchain and crypto tech will persist in the real world? As crypto Ad bans contributed to the crypto winter, how will clones like Facebook’s Libra cryptocurrency perform in the FinTech world?
Bitcoin is a Martyr of its Own Success
Bitcoin was so successful it’s changed how we see the future of money, but it’s also confused a lot of investors who were too late to the crypto party that appears to have died out progressively since 2017.
Is Bitcoin in the 2020s a fool’s gold or a persistent digital gold-like asset that can endure? Bitcoin is synonymous with volatility and a crypto investment world that speaks more of Millennial economic uncertainty and FOMO meme-like culture than the advancement of new kinds of money in the real world.