David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He's currently on the finance beat. David is a tech journalist who loves old-school adventure games, techno and the Beastie Boys. He's currently on the finance beat.
Major news outlet CNN has touted Bitcoin as the “star investment” of the decade, eclipsing stocks, bonds, commodities, and (of course) fiat currencies worldwide.
CNN backed its claim with numbers provided by Bank of America Securities, which showed a tiny $1 investment in Bitcoin at the start of 2010 would be worth more than $90,000 today (or, considering its latest price dives, until quite recently).
Still, regardless of its recent performance, Bitcoin dominated more traditional investments. Even though the US stock market is the strongest in the world, $1 in American stocks at the start of the decade would now reportedly be valued at just $3.46.
One dollar invested in a 30-year US treasury bond over the same time period would now be worth $2.08.
Gold, however, was reportedly the top commodity of the 2010s (aside from Bitcoin, of course). A $1 gold investment in 2010 is said to be worth just $1.34, while the same in oil would equate to 74 cents.
Bitcoin definitely performed better than the Greek equity market
CNN listed some terrible investments, too. A dollar in Myanmar currency at the start of the decade would now reportedly be worth a measly 4 tenths of one US cent today.
Thanks to Greece’s debt crisis, 100 cents in the Greek equity market would now equate to only seven cents.
While BTC’s value indeed went from fractions of a penny to thousands of dollars today, it’ll surely be hard to defend its title of “best investment of the decade.”
Now, Bitcoin faces its next test: the 2020s.
This is not investment advice. This is for educational purposes only. Do your own research, damnit. No, really, don’t buy Bitcoin because you read this article. Past performance is not indicative of future results. I’m not even qualified to tell you that. See what I mean? Do your own research. Please.
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