Bitcoin emerges as the best performing asset of the decade

With Bitcoin cryptocurrency gaining popularity, its value is seen to have increased exponentially.

According to a recent report by the Bank of America Securities, it was noted that a dollar worth of investment in bitcoin 10 years back, would be a $90,000 today.

Bitcoin when launched in 2009 was worth nothing then since it wasn’t traded on any exchange at that time which would determine its worth. About a year later, in early 2010, the real use of the crypto asset came to the picture when Laszlo Hanyecz purchased pizzas using bitcoins for 10,000 BTCs.

After that more and more people started recognizing the crypto asset for what it’s designed to be, a medium of exchange and also as a store of value.

In mid-2017, bitcoin value started recording huge jumps. Though the asset was priced about a thousand dollars ($1,000) at the beginning of 2017, it attained its highest price ever, about $20,000. Despite a 65% drop from its peak down to $7,000, bitcoin is still regarded as the best performing investment instrument of the decade.

There have been a lot of speculation about where bitcoin would be in the long term, in the next 10 years from now. If the cryptocurrency could do this much in 10 years, it’s even able to do much more in 10 years from now.

The popular American software guru turned crypto enthusiast, John McAfee, has in the past forecasted bitcoin to hit a million dollars ($1,000,000) in the first year of the next decade.

Tim Draper, a popular face in the crypto world, also predicts bitcoin to hit $250,000 in the first quarter of the next decade. This, he says will be boosted by the bitcoin lightning network.