Will Bitcoin Continue to be the Best Investment in the 2020s?
By Andrew J. Burns on The Capital
Seemingly an eternity ago, on October 31st, 2008, a link to a paper authored by Satoshi Nakamoto titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was first posted to a public cryptography mailing list. Nakamoto implemented the bitcoin software as an open-source code and released it in January 2009 to the public.
The first decade of Bitcoin’s controversial reign is soon coming to an end, and with many looking forward to the next year and the next decade soon to follow, it is equally important to review the past crypto year and the crypto decade that are behind us — specifically, the emerged cryptomarkets and even more so, cryptocurrencies based on Bitcoin. While we find ourselves in an age of political division in almost every aspect of what the media reports and those who control the outlets, it can be hard to decipher what is real and what is propaganda. What can usually not be debated as easily or simply put, refuted, is numbers. When the Bank of America itself was quoted to have said that the best performing asset of the last decade was Bitcoin, I am a little more convinced that the cryptocurrency will be the next big thing that almost every and all laypeople will start to investigate, understand on a basic level, and ultimately, take a lot more seriously.
If a friend or family member asked if you wanted to be a millionaire and it only took 10 years and a small investment, I am willing to guess that you would probably scoff at the question, assuming some MLM shenanigans, and tell them not to bother you with such trivialities. Well, if this person was talking about Bitcoin and it happened to be in the early 2010s then this person might have had an amazing insight into the fact that he or she would not be making this up. How about the small investment of approximately $11 in Bitcoins would be worth over $1,000,000 right now? Let’s just say most people are not aware of this and for the ones that are, including myself now, I am feeling too greedy for the 10 bitcoins I owned back in 2013 that doubled in a week and if I had waited only four more weeks before selling, it would’ve quintupled…Of course being a volatile asset as it is, in the weeks that followed, the Bitcoin price did level out and then fell substantially, but it’s hard not to question yourself, “What if I had only held it a bit longer?”
The Big Four are well aware of the situation, and I am referring to the four largest banks in the US. JP Morgan is the first of the four to announce the creation of its own crypto coin, The remaining three are sure to be following suit — that would be Bank of America, Wells Fargo, and Citigroup. Needless to say that if these major banks do not create their own digital coin and the masses are privy to Bitcoin’s performance over the past decade, then you can easily assume that people will want to get in on this “easy money”.
