Cryptocurrency has been the best performing asset in the last ten years, according to the financial entity.
In a recent publication issued in December by Bank of America Merrill Lynch (BAML), the Bitcoin cryptocurrency (BTC) is considered the best investment of the last ten years. So the digital currency managed to overcome the performance of other assets such as bonds, stocks and even fiat currencies around the world.
In an analysis conducted by the BAML, where it puts this cryptocurrency as the first one in the list of assets of the decade and published by the news website 1BUV, it set an example of an investment action to help understand the magnitude of the value of the cryptocurrency.
The text details that for every dollar that a person has invested at the beginning of the decade, he would currently be able to have around $ 90,000. Therefore, the amount of BTC could be about 13.8 BTC. This far exceeds what any other investment would have offered in the same number of years. Even the same investment using dollars in the US stock market is compared, which in the same number of years would only have received $ 3.46 from the investment for each dollar.
The United States stock market is one of the strongest stock markets in the world, but it would not achieve the same amount of return for investment. This also represents a big difference to what could have been an investment in the purchase of shares of any other company, instead of how stable and important it has been in the last ten years.
Although the cryptocurrency itself has lost approximately two- thirds of its value in 2 years when in 2017 it managed to reach a price of up to $ 20,000. Even apart from the fact that Bank of America itself considers cryptocurrency as “highly speculative”, and unstable, it recognizes that its value has grown almost unstoppably since 2011.
Not only it has managed to create an entire crypto market that emulates its qualities to perform the same or other functions with a specific interest, but it has also become the mandatory reference of cryptocurrencies and the most popular digital currency of all. It has even become sufficiently accepted that businesses that begin to bet on the adoption of crypto technology begin by accepting Bitcoin as the main cryptocurrency.
Because of this, a review published by CNN, related to the report published by the BAML, explains that currently, a large number of retailers in retail markets accept the BTC as another way of acquiring their products or services. It also details that more and more companies are investing in future Bitcoin contracts, thus helping to establish and legitimize the digital asset, positioning it as another method to invest and use.
The Worst Investing of the Last Ten Years
On the other hand, the report also points out the worst investments in the last ten years, putting Burma’s national currency, the Kyat, as the first one in the list. They specified that for every dollar that has been invested in the asset, today it would have an approximate USD 0.004.
Similarly, it happens the same with the official asset of Greece, which due to a crisis resulting from external debt, for every 100 cents invested in the Greek stock market ten years ago, today would only be worth 7 cents.
This puts the Bitcoin cryptocurrency (BTC) as a valuable asset that has surpassed economies of entire countries, as far as investment benefits are concerned.
This study conducted by one of the most important banks in the world, Bank of America, has put a particular interest in bitcoin for some years. As published in 2017, when this institution published a report where it recognizes cryptocurrencies as the most quoted investment in that year, even the digital currency managed to displace the US dollar as the best long-term investment.
For this reason, the bank considers that it is possible to use the cryptocurrency market in its favor, as well as the blockchain technology itself. It is for this reason that the bank analyzed cryptoasset futures.
It also might be experimenting with the development of solutions using blockchain technology, this includes the acquisition of patents related to these technologies.
By María Rodríguez