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Bitcoin tops blue-chip stocks in 10-year gains

source-logo  finbold.com 26 May 2023 12:10, UTC

To this day, the emergence and meteoric rise of Bitcoin (BTC) continues to captivate the world of investing and finance, standing as one of the most unprecedented events in recent history.

However, many are not entirely aware of how extraordinary Bitcoin’s price growth actually was, considering that the cryptocurrency was launched just 14 years ago. So let’s put it into numbers.

On Friday, May 26, prominent investor and market strategist Charlie Bilello posted a tweet, showing Bitcoin’s price gains over the last 10 years, compared to price increases recorded by some of the world’s biggest and most blue-chip stocks, such as Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), and Amazon (NASDAQ: AMZN), among others.

The tweet shows that Bitcoin topped that list by some distance, raking in price gains of a whopping 19,968%, followed by Nvidia with 11,145%.

The gap gets even wider as the list progresses, with AMD (NASDAQ: AMD), Tesla (NASDAQ: TSLA), and Apple stocks rising 2,896%, 2,884%, and 2,884% during that period, respectively. The likes of Microsoft, Facebook (NASDAQ: META), and Google (NASDAQ: GOOGL) saw their share price soar by 1,047%, 908%, and 459%, respectively.

BTC should be even higher right now, analysts say

Meanwhile, the price of gold – the safe-haven asset that’s considered a store of value and hedge against inflation, climbed just 34% in the past 10 years.

Earlier this week, JPMorgan strategists wrote in a note to clients that gold’s current price suggests that Bitcoin should be trading significantly higher, citing views by some investors that the two assets are interchangeable.

More specifically, BTC’s price should be somewhere around $45,000, which is roughly 70% higher than the cryptocurrency’s present price level of $26,452, the bank’s analysts said in a note published on May 24.