To this day, the emergence and meteoric boost of Bitcoin (BTC) persists to captivate the world of investing and finance, standing as one of the most unprecedented events in recent history.
Nonetheless, numerous are not entirely aware of how extraordinary BTC’s price growth essentially was, seeing as that the digital currency was launched just 14 years ago. So let’s put it into numbers.
On Friday, May 26, prominent investor and market strategist Charlie Bilello posted a tweet, showing BTC’s price profits over the last 10 years, compared to price increases recorded by some of the world’s largest and most blue-chip stocks, such as Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), and Amazon (NASDAQ: AMZN), between others.
The tweet shows that Bitcoin (BTC) topped that list by some distance, raking in price profits of a whopping 19,968%, followed by Nvidia with 11,145%.
The gap gets even wider as the list progresses, with AMD (NASDAQ: AMD), Tesla, Inc. (NASDAQ: TSLA), and Apple stocks growing 2,896%, 2,884%, and 2,884 percent during that period, respectively. The likes of Microsoft, Facebook (NASDAQ: META), and Google (NASDAQ: GOOGL) saw their share price soar by 1,047%, 908%, and 459%, respectively.
Bitcoin should be substantially greater at this time, analysts say
In the meantime, the price of gold – the safe-haven investment that’s considered a store of value and hedge against inflation, climbed just 34 percent in the past 10 years.
Earlier this coming week, JPMorgan strategists wrote in a note to clients that gold’s current price implies that Bitcoin (BTC) should be trading significantly higher, citing views by some investors that the two assets are interchangeable.
More in particular, Bitcoin’s price should be somewhere around $45,000, which is approximately 70 percent higher than the digital currency’s present price level of $26,452, the bank’s analysts stated in a note published on May 24.
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