Interestingly, as the bitcoin cryptocurrency gained popularity, so did its value increase exponentially.
According to a recent report by the Bank of America Securities, it was noted that a dollar worth of investment in bitcoin 10 years back, would be a $90,000 today.
In mid-2017, bitcoin value started recording huge jumps. Though the asset was priced about a thousand dollars ($1,000) at the beginning of 2017, it attained its highest price ever, about $20,000. Despite a 65% drop from its peak down to $7,000, bitcoin is still regarded as the best performing investment instrument of the decade.
There’s been a lot of speculations about where bitcoin would be short term to long term. If bitcoin could do this much in 10 years, it’s even able to do much more in 10 years from now.
The popular American software guru turned crypto enthusiast, John McAfee, has in the past forecasted bitcoin to hit a million dollars ($1,000,000) in the first year of the next decade. He even promised to feast on his genitals if this doesn’t happen.