With the value of 1 bitcoin surpassing 15000 U.S $ recently, bitcoins have once again come into prominence globally. The stratospheric rise of bitcoins is contrary to the expectations of some analysts, who were happy to term bitcoins as a bubble. Moreover, the recent news of bitcoin investor Cameron Winklevoss, one half of the Winklevoss twins ( famous for their spat with Mark Zuckerberg over the ownership of Facebook ) reported to have become the world’s first bitcoin billionaire has further heightened the interest in bitcoins. Some analysts are even going to the extent of terming bitcoins as the next multi trillion dollar asset.
Rise in bitcoin valuations
For most of the year 2010, the value of 1 bitcoin stayed below the 1 U.S $ mark. Today, as that value crosses 15000 U.S $, early investors are reaping the windfall. Sample this, a 100 U.S $ investment made in bitcoin in the year 2010 is worth more than 15 million U.S $ today, an unprecedented rise, of any asset in the financial sector. This stratospheric rise in bitcoin valuations has created many millionaires, most of whom were early stage investors. It would be true to say that it’s time that all doubts over the stability of bitcoins are laid to rest and they should be accepted as a prime investment asset today.
Bitcoins: Gold 2.0
Some years ago, a similar sharp rise in gold valuations was witnessed. From being an asset preferred by only the most risk averse investors, gold became the asset of choice in the financial sector. Be it intra day traders, be it long term investors, gold was the foremost choice as it provided the most benefitting returns. The recent rise in bitcoin valuations has led some to say that bitcoins are gold 2.0, or in simple terms, the best asset to invest in today. The unhindered rise of bitcoin valuations makes it difficult to dispute this assertion.
Bitcoin valuations exceeding 20000 U.S $
Earlier, bitcoin supporters were terming 2022 as the year when the value of 1 bitcoin exceeds 20000 U.S $. The recent sharp rise in bitcoin valuations now makes this prediction seem wide off the mark. At the rate at which valuations are going up today, it’s perfectly plausible for bitcoin valuations to reach 20000 U.S $ by 2019 or 2020, much earlier than expected. So a 15000 U.S $ investment in bitcoin today will be equal to around or more than 20,000 U.S $ in the next 2 years, a rise of over 30 percent, much more that what other assets can provide. This only is enough for everyone who is still doubtful about bitcoins to finally leave his/her apprehensions aside and invest in bitcoins.