The Bitcoin market has always been touted as the next big thing in mainstream finance by its proponents. This has further sparked debate about the world’s largest currency’s ability to maintain a strong foothold against giants such as Amazon and Apple, whose stocks have been reaping dividends. A recent analysis, however, has shown that Bitcoin may have been the best option to invest in over the past ten years.
The survey showed that if users had invested $100 in Bitcoin at the start of the decade, their holdings would have risen to a whopping $9.2 million today. At the same time, the $100 investment in companies such as Amazon, Visa, Microsoft and JP Morgan would have earned much lesser returns.
An investor who had bought Amazon shares for $100 in 2009 would have earned just $3300 in 2019 while the same buy-in of Apple stocks would have risen to $2400.
Some companies like Walmart and Alibaba did not even breach the $500 barrier when it came to ROI. A user’s $100 in 2009 would amount to $271 in terms of Walmart stocks while Alibaba stocks would have doubled the $100 to close at $208 in 2019. J
JPMorgan was also considered on the list after the bank had plans to release its own cryptocurrency, JPMCoin. A $100 investment in the bank would have yielded $533 after a decade.
The massive disparity in Bitcoin ROI and that of other companies comes at a time when mainstream organisations have seen a resurgence in their market caps. At a time when Bitcoin was struggling to hit the $200 billion market cap point, Apple had crossed the $1 trillion market.
At press time, Bitcoin was trading for $7351 with a total market cap of $131.525 billion. The cryptocurrency held a 24-hour market volume of $17.08 billion after a 1.15 percent fall in prices over the 24-hour time frame. The cryptocurrency market has been so ruthless of late that Bitcoin was not even the most prominent victim in terms of price falls. Just a couple of days ago, the value of Matic Network, one of Bitcoin’s rivals fell by a significant 70 percent. Matic had dropped from $0.042 to %0.013 in the matter of an hour and users were still trying to figure out what exactly caused the crumble.
Changpeng Zhao, the Chief Executive officer [CEO] of Binance, had stated:
“Our team is still investigating the data, but it’s already clear that the matic team has nothing to do with it. A number of big traders panicked, causing a cycle. Going to be a tough call on how much an exchange should interfere with people’s trading.”
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
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