Bitcoin has given investors 198% return since June 2017, more gains than Top 10 Fortune 500 companies
Bitcoin, the world’s most popular cryptocurrency, has given investors 198% gains since June 2017. On June 2nd, 2017, the price of one Bitcoin was $2549. And by today’s market rate Bitcoin is priced at around $7,517. That is equivalent to 198% gain.
In contrast Apple, the world’s most valuable company gave its investors 22% gain since 2017. On June 1st, 2017, Apple’s stock was valued at $152. Today Apple’s stock is valued at $188. Alphabet Inc, the parent company of Google, gave 13% gains to its investors. Meanwhile, both Microsoft and Amazon have given 41% and 64% gains respectively to their investors. The biggest oil company in the world, Exxon Mobil, gave its investors 1.25% gain since June 2017.
In contrast to other cryptocurrencies, Ethereum the 2nd largest cryptocurrency gave its investors 151% returns while Ripple the 3rd largest currency gave its investors 96% gains. Bitcoin’s main rival Bitcoin Cash gave its investors 79% gains.
Why is Bitcoin price increasing?
There are various factors in play when it comes to the price increase of Bitcoin. The major factor being, the investor’s speculation around the price of Bitcoin. Another major support for the increase in the price of Bitcoin has been the Bitcoin’s use as a mode of payment for the mining fee. According to Bitcoin whitepaper, mining of Bitcoin is going to increase in complexity, which in turn would require higher computational power. To compensate miners for their resource miners are paid in Bitcoins. This economics of Bitcoin leads to a price increase.
In December 2017, the price of Bitcoin had reached its maximum value of $19,343 per bitcoin, giving some investors as much as 1000% gains. Since then the price of Bitcoin has fallen but has generally shown an upward trend, if the overall price trend has to be considered.
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