Bitcoin Proves To Have The Best Store Of Value Over The Last Decade
By Luke Flowers – Crypto Specialist
Bitcoin since 2010, has died over 377 times at the hands of experts and renowned media outlets. At the top of the bear market in 2018, Bitcoin had been declared dead over 90 times as many looked to sell Bitcoin and cash out crypto.
We have almost reached the end of 2019 and Bitcoin still manages to do well by carving a niche in the financial system. When speaking to blockchain executives and researchers, as well as crypto traders, they all agree that buying Bitcoin offers a strong value proposition. By offering this, the coin can conquer many short fallings.
Bitcoin the Best Performing Asset of All Time
Since its launch back in 2019, the cryptocurrency giants price has grown by 164,000%. This is exactly why The Crypto Oracle, a distributed ledger technology (DLT) expert, was absolutely certain that Bitcoin had proven itself to be a solid store of value.
The researcher tells CCN that they would argue that Bitcoin has proved itself as a good Store of Value (SOV) when analysing the price movement over a longer time frame. Over the duration of Bitcoins life, it has become the best performing asset in the world. Many refer to the wild swings as negative activity, but price movement has allowed the asset to boom if you were an investor buying Bitcoin back when the network was younger.
They also added:
“It’s on the way to being the only non-correlated SOV asset in the market”. This means the price movement is separate from the movement of other SOV assets, which can become increasingly popular in financial uncertainty. During this uncertainty, many investors will seek to buy and sell Bitcoin and other assets they believe will hold their value.
In times of indiscriminate quantitative easing, Bitcoin has become a strong SOV, says Transform Group chief strategy officer, Enzo Villani. He elaborates that the World Bank and members have been discussing quantitative easing in which printing money has become common practice and co-ordinated efforts are needed to address the issue.
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