As 2019 comes to a close, many analysts have spotted Bitcoin’s prowess in the investment sector. Despite being called a ‘disproved technology’ by critics and naysayers, the world’s largest cryptocurrency has trumped industry mainstays to become one of the best investment choices of the past decade.
Lolli, the popular Bitcoin rewards app recently touched upon how Bitcoin had beaten the Return on Investment [ROI] provided by organizations such as Netflix and the Jeff Bezos led Amazon. The numbers showed that over the past decade, Bitcoin had given returns of more than 8,990,000 percent while giants such as Netflix and Amazon had provided 4,177 percent and 1,787 percent respectively. They were followed by organizations such as Mastercard, Apple and Visa, all of whom had returned in three digits. Users holding Bitcoin over the past decade also had a phenomenal advantage over those who held shares in companies like Nike and Microsoft, which had returns of 587 percent 556 percent respectively.
At press time, Bitcoin was trading for $7453 with a total market cap of $135.045 billion. The cryptocurrency had a 24-hour market volume of $26.005 billion after a 1.33 percent fall in price over the previous day. The past week for Bitcoin has been nothing short of frustrating as the value fell from $7639 [on December 24] to its current hold near $7450. An overall monthly price analysis indicated the bear taking control of the market after expectations that the bull would arrive at the end of the year.
Even after multiple downturns in the Bitcoin industry, it still overshadowed other competing assets. Although the stock market was in a bull run for the last ten years, one dollar invested into American stocks would have yielded just $3.46. At the same time, the one-dollar invested into American bonds would have increased to a measly $2.08. Bitcoin even beat the growth rate of oil after issues in the Middle Eastern bend contributed to fluctuating prices. A dollar invested in oil actually gave a return of negative 26 percent.
The rate of ROI for Bitcoin had jumped a bit over the past few days after a surprise bull run took everyone in the community by surprise. The 5 percent plus hike was considered a ‘Christmas miracle’ by the community but the joy was short-lived. The cause for Bitcoin’s latest rally was not evident but many speculated that it was because of the much-awaited ‘ Santa rally’ in the Bitcoin space. The rise in Bitcoin’s value also contributed to the increase in prices of coins such as XRP Bitcoin Cash and Litecoin.