Bitcoin has not only made history as the world’s first and largest cryptocurrency, but has also become the most innovative financial invention of the 21st century.
From an overview of price growth to increased adoption by individual and institutional investors alike, Bitcoin helped give birth to the era of digital money that led to decentralized finance and other monetary innovations.
Bitcoin vs. Mainstream Investment Assets:
Bitcoin was designed by Satoshi Nakamoto as digital money, but its inherent nature of increasing value has given it an entirely new use case as an investment asset.
What this means is that people are now buying Bitcoin to store value, as well as to preserve wealth in the face of pervasive inflationary threats.
According to a recent update shared by Charlie Bellillo, founder and CEO of Compound Capital Advisors who compared the 10-year growth rate of Bitcoin with other Wall Street assets.
According to his tweet, Bitcoin is up over 994,608% compared to the best-rated stock, Tesla (TSLA), which represents the electric vehicle manufacturer with a 15,200% growth boost.
The superior performance of Bitcoin, as we saw above, made the growth and rise of gold over the past period and nothing, as the yellow metal declined by -6% in the last 10 years, according to the above-mentioned tweet.
In terms of price expectations, bitcoin experienced a growth of $115 in 2013, to $45,082.29 that is currently trading.
The cryptocurrency hit an all-time high of $64,863.10 in April of this year.
Bitcoin forecast for the next decade:
Bitcoin was a huge success story that inevitably surprised even its inventor, Satoshi Nakamoto, and early adopters.
Despite the impressive Bitcoin price movement, many people are still skeptical about what the future holds for the coin.
There are two sets of thought propositions when bringing up the debate about what the future holds for Bitcoin.
The first revolves around the fact that the coin is still seeing impressive adoption, even by several companies including Papal as well as by sovereign countries, as we saw when El Salvador adopted Bitcoin as legal tender on September 7.
While the second thought proposition revolves around suppressing the growth of the digital currency through regulations and increased competition in the ecosystem revolving around the blockchain as a whole.
While many believe that Bitcoin will break the $500,000 level in the medium to long term, a growing number of skeptics believe that the price of the currency could take a downward path backed by its extreme volatility.