Returns on investments in Bitcoins and other digital currencies are higher than technology stocks and the S&P 500 Index in the US for the first time this year, reported Coinbase.
The new report was published on the 11th anniversary of the release of the Bitcoin whitepaper. Bitcoin has done well compared to popular indexes since 2013.
Coinbase also said Bitcoin is still profitable, generating a 132% return this year alone. In comparison, the Nasdaq posted a 17% gain, the S&P 500 12%, FTSE Europe 100 of 11%, and FTSE ASEAN 40 of 3%.
Approximately 27 million Americans, which makes up only 9% of the total US population, have access to digital currencies this year, reported Coinbase.
This indicates that Bitcoin and digital currencies are more accepted and known widely. Since 2019, US$7 trillion worth of Bitcoin has been traded and exchanged.
Using dollar-cost averaging (DCA), investors who collect 10 Bitcoins a month will gain 595% return after four consecutive years of collection.
Brian Armstrong, CEO of Coinbase, said he knew about Bitcoin since 2010. He immediately realized that this is an innovation that will come to revolutionize the world since the birth of the Internet. He said that Bitcoin takes time to be profitable, adding that this is about time.
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