Early adopters who bought BTC in 2010 will be sitting on $90k per $10 invested making Bitcoin the best investment of the decade above stocks, shares, and property. On top of this, TRON and ETH will not be taking advantage of the New Year’s Day holiday as both networks have something new in-store. We will cover more about BTC’s newly declared investment status below as well as some of the top stories around the industry over the last week.
On New Year’s Day when everyone is celebrating or recovering from seeing in the New Year there is news of 33 Billion TRX to be released on the 1st January plus could we be about to see another ETH price hike as the next update is scheduled on New Year’s Day. See more below!
With the New Year rolling in and the start of life in the 2020s, many have felt the need to look over the past decade since the turn of the 2010s. Well, in one study by Bank of America Securities, as reported here, Bitcoin was the best investment of the last ten years.
If you invested $1 in bitcoin at the start of the decade, it would now be worth more than $90,000, according to a recent report by Bank of America Securities https://t.co/gts19Siw3q— CNN Business (@CNNBusiness) December 26, 2019
We all bemoan not being there or being in the know about cryptocurrencies earlier and all know just how much the likes of BTC has grown in value since their creation. Calculations have been done many times over about how much money we could have (and that some do have) for getting in right at the start.
However, anyone that would have invested just $10 into BTC at the start of 2010, would be sitting with $90,000 today. That far eclipses what any other investment could have and that is despite the recent performance that sees its current price in the market of just over $7,300.
BTC could be purchased for a fraction of a cent back in the early part of the decade. In fact, even if you got involved at any point before 2017, you would be sitting on a very healthy profit albeit nowhere near as good.
Oh, if we all had a time-machine!
Still, there could be time for us all to get our hands on a good investment in the next decade, especially if the bold predictions of Tim Draper come true. The American venture capitalist has gone on the record to predict that the value of BTC could be as high as $250,000 by the year 2022.
That prediction is mainly based on the popularity of Bitcoin eventually starting to eat into the market cap of gold. While his predictions have been laughed off in some quarters, Brian Kelly claimed in the video below that he can understand the reasoning of it and that Draper might be that far off at all.
That said, we talk about all the lows, but one Coin Corner follower on Twitter put things into perspective when he Tweeted BTC’s yearly lows. If you look at the current price, just investing in BTC at its lowest point of 2019, which was $3,350, you would have made a 15% return on your investment.
Decade of #Bitcoin yearly lows— Danny Scott ⚡ [Mega Maxi] (@CoinCornerDanny) December 26, 2019
2010 - $0.01
2011 - 0.30
2012 - $4
2013 - $65
2014 - $200
2015 - $185
2016 - $365
2017 - $780
2018 - $3,200
2019 - $3,350
Todays price - $7,200
There's no denying it's been a good investment and store of value.
With the up and coming halving of BTC coming up in the first quarter of 2020, many are saying this is a great time to invest as the value of the world’s most mature crypto could be encouraged to surpass that $20,000 mark we have all been waiting for.
The TRON foundation has plans to start the New Year with unlocking a 33 million worth of TRX on the 1st of January that would be worth $442 million in the current market. What is odd about this unlocking, is that they apparently do not have a plan of what to do with the newly unlocked TRX tokens and have gone to Twitter to ask the community of what they think should happen to them.
A move that shows the transparency of TRON or something to be a little concerned about? It does seem to have split opinions with those that replied to the tweet. Some wanted the 33 billion to be burned, others were wary of the potential of investors dumping them if given any, while others suggested sharing them around DAPPS developers.
TRON is a non-profit organization, so it may be a question of trust as to how investors feel about this latest unlocking.
Following on from the ‘Istanbul’ update that occurred little under a month ago, the Ethereum Foundation has announced that their ‘Muir Glacier’ upgrade will commence on the 1st of January.
This upgrade, which is another in a series for the transitioning into Ethereum 2.0, was set to occur at 9.2 million blocks. While it is not certain and the exact dates can change, that number looks set to be reached on New Years Day which has led to the foundation alerting both developers and miners to the news.
This upgrade will enable the network to stall the increase of block times to ensure that transactions can be mined quicker. As a result of this upgrade, all miners and node operators will have to download the updated client software on or after New Years Day.
If you are a member of Coincorner, then you might have already seen the email being circulated looking for stars for a new BBC documentary. The documentary is set to cover the various people that have made it to the big time via cryptos and those who lost large sums of money.
Here is the copy from the email being circulated:
Can you help with a Crypto Documentary?
We would like to hear from people who have made or lost large amounts of money in crypto and may be interested in sharing their story in a BBC documentary.
The broadcaster is looking to produce a TV documentary about the crypto space in Britain and would like to hear from contributors aged 20 - 35.
If you're interested to be involved, please email us with your details/story (confidentially) and we'll be in touch very soon!
Despite the dark clouds that governments and some financial experts try to cast over cryptocurrencies, there is no denying that anyone that got in on the crypto bandwagon at the beginning of decade made a wise investment at the time seeing their BTC rise to almost $20,000 by 2018.
In fact, there are very few investments publicly available that could have given you the returns BTC has, and many other cryptos such as ETH made great investments back when they began as their values at the end of the decade are worth thousands of percent more than when they were first released. We are bound to hear about a plethora of overnight BTC millionaires!
On the flip side of the documentary, we can expect to also hear from the bitter losers who made investments and the wrong time. This section of investors came into the crypto sphere when the huge increases in crypto led to an army of late adopters hoping to get rich quick off the back of huge hikes in crypto valuation.
Many of these people bought in just before the crypto market hit a dip and went into its ‘nuclear winter’ cycle – something we have seen occur within the stock markets. For example the Dotcom and the 2018 financial crash.
We are also likely going to hear from those who still believe it the future of cryptos, and from a large number of doubters that can see cryptos going either way and then plenty of people declaring cryptos as a false economy.
One thing is for sure, it should be an interesting documentary even though we can pretty much predict the content already.
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