A decade has passed since the creation of bitcoin (BTC). Bringing unparalleled innovation to modern finance, it took just 10 years for this first crypto to reach over 20,000 times its value. This makes it the best performing asset of the past decade. According to the Bloomberg Intelligence Report, this performance is not ready to stop and the next wave is on its way. With the increase in the rate of adoption of bitcoin in the world, it is certain that it will gain in value in the long term. Making bitcoin the asset with the most potential for the next decade.
Bitcoin (BTC): the “ Bloomberg Intelligence Report predicts a promising decade
Bitcoin took very little time to take off. And the next decade looks very promising according to the “Bloomberg Intelligence Report“.
Indeed, the decline in treasury bills can work in favor of the cryptocurrency market. And investors prefer to put their money in more promising assets for the decade to come. Since the treasury bill is losing value following past FED policy decisions, traders are betting on cryptos (and bitcoin) for the next decade. This could tilt the direction of bitcoin’s value.
On the other hand, the FED plans to increase the interest rate in order to hope for a rise in value for the treasury bonds. But it should be noted that the value of these bond contracts already seems to be bouncing off bitcoin’s weekly 100 moving average. These two assets are correlated, and everything suggests that they are starting to start a bull run.
Bitcoin (BTC): qualified as a “Commodity” by the SEC
Again, the next decade looks promising for bitcoin. Indeed, according to the SEC (American Securities and Exchange Commission), this is a raw material. Gary Gensler, the chairman of this commission, says he could describe bitcoin as “commoditiesbecause of its innovative features.
An important statement that plays in favor of a rise in the price of bitcoin for the next decade. This is good news forHODLERSbecause this crypto is getting more and more recognition economically. According to the founder of the Blockchain Investment Group, Eric Weiss, this is not the first time that an SEC chairman has declared that bitcoin has all the qualities of a commodity. Thus, we should no longer question the fundamental value of Bitcoin over the long term.
The Future of the King of Cryptos looks promising. After a decade of prowess, all the conditions are in place for Bitcoin to repeat this performance. Thus, it will have its place alongside safe havens such as gold and treasury bonds.
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