- Bitcoin is up by millions of percent since its emergence
- Bitcoin is the best asset over the past decade
- Many believe Bitcoin would still be the best asset for the coming decade
Bitcoin News Today – The past decade has been a tremendous one for Bitcoin (BTC). Since it emerged in 2009, the price of the digital currency has surged by millions of percent. Some of the most influential people in the world, including Elon Musk, gave a nod to the digital currency, and the industry at large started a mainstream technological trend.
Bitcoin has clearly outperformed all other assets in existence, and this has left many to wonder if the digital currency can keep its macro uptrend intact for the next decade.
Bitcoin (BTC) Price Today – BTC / USD
Will Bitcoin Remain the Best Asset for the Coming Decade?
A former Goldman Sachs executive who is now the CEO of Real Vision – Raoul Pal – said that Bitcoin might do just that. He said that the digital currency would be his choice if he could only invest in one asset for the next decade.
On Friday, the Wall Streeter who is now a media magnate and media researcher talked about why his most optimistic asset for the coming decade is Bitcoin (BTC). In a Twitter comment, he said that he believes BTC is the perfect asset for him to invest in for the next 10 years. His reason is that Bitcoin encapsulates all of larger macro views, making reference to an earlier statement he made suggesting that the world will turn to an alternative finance system that will be digital.
If I could only own one asset for the next 10 years, it would be bitcoin $BTC It encapsulates all of my larger macro views and feels like the point on the far horizon we are headed to, in some shape or form. Yes, like gold too and many other things but BTC risk/reward beats all.
— Raoul Pal (@RaoulGMI) January 31, 2020
The Real Vision executive added that from the perspective of a pure risk-reward, Bitcoin (BTC) beats all other assets. Previously, Pal told Stephan Livera – a prominent Bitcoin podcaster – that all popular asset classes are very expensive; meaning they are overvalued, save for Bitcoin. He said that equities are roughly all-time highs, and they are pushing extreme valuations for little profit and potential.
Bonds are not much better, he added, pointing to the “almost zero yields” – and negative yields in some cases. He also talked about how unattractive real estate has been, with investors refereeing to the asset class as “unaffordable.”
Bitcoin Will Be More Formative in the Next Decade Than the Last
Many analysts and traders agree that the coming decade for BTC will be formative. It would be more formative than in the last decade. In a report released in December last year, Deutsche Bank said that it thinks that cryptocurrency assets have the potential to take over fiat currencies as a whole.
“The forces that have held the current fiat system together now look fragile and they could unravel in the 2020s. If so, that will start to lead to a backlash against fiat money and demand for alternative currencies, such as gold or crypto could soar.”