This may not be news for anyone following cryptocurrencies in the last couple of years, but Bitcoin is now considered the best asset class in the last ten years. This is according to a list from the banking giant Bank of America Merrill Lynch (BAML) in which it included some of the best and worst asset classes of the decade.
Bitcoin Became One Of The Best Asset Classes In The Last Decade
According to BAML, an investor who would have paid $1 for a Bitcoin in 2010 would now have a $90,026 investment today. This is a large difference compared to an investment in U.S. equities that would have turned $1 in 2010 to $3.46 today.
At the same time, the worst investment would have been Myanmar, the Burmese Kyat, that today would be worth $0.004. This shows Bitcoin registered a massive increase in price since it was launched back in 2008 by Satoshi Nakamoto.
BAML has a list of best/worst asset classes of the decade:
* Best: Bitcoin $1 in 2010 = $90,026 today
* Worst: Myanmar Kyat $1 in 2010 = $0.004 (spot) today.
* (For comparison: US equities $1 in 2010 = $3.46 today)
— Carl Quintanilla (@carlquintanilla) December 13, 2019
Nowadays, the cryptocurrency is being stagnant trading in the range of $7100 to $7,250 with a market capitalization of $131.56 billion. Although this is a massive price compared to the early days of the cryptocurrency, enthusiasts are waiting for new all-time highs. Bitcoin hit $20,000 in 2017 and quickly started to decline afterward. Experiencing one of the worst bear markets in crypto history. While the BTC price did hit just shy of $14,000 earlier this year, investors are waiting on the digital currency to reach new highs again. And that may happen in the next 6 months if the Bitcoin reward halving in May 2020 will push the price towards an all-time high.
Bitcoin can be used to make international transfers in just a few minutes and it can also be used as a speculative asset. Many investors bet that Bitcoin would skyrocket to new all-time highs in the future. Indeed, some analysts suggest Bitcoin could be a once-in-a-lifetime opportunity for enthusiasts.
It is not possible to predict what can happen to Bitcoin in the next ten years and whether it will remain as the best performing asset class. However, larger investors such as institutions could enter the market and push its price even higher. If governments decide to adopt it, this cryptocurrency could eventually be considered the best performing asset in the next decade as well.