- Coinbase published new data that shows the exponential growth that Bitcoin has had over the past 10 years.
- The report shows how Bitcoin has outperformed the S&P 500 index.
New data from the U.S.-based crypto exchange, Coinbase, reveals Bitcoin’s growth. According to the blog post, since 2013 Bitcoin has outperformed one of the most important U.S. stock indices, the S&P 500.
In the same report, Coinbase celebrates and acknowledges Bitcoin as a relevant economic discovery, even though it was invented only 11 years ago. The exchange also adds figures that try to show how Bitcoin is gaining strength, fostering economic growth and helping people overcome some of the traditional obstacles that prevent them from having a bank account and absolute freedom over their money.
Bitcoin: a decade of expansion
Coinbase, in its public report, exposes the exponential growth that Bitcoin has had. Since it appeared as an idea, until the first transaction registered in 2009, the number of users of the cryptocurrency has increased by millions. An important milestone for any innovation, especially considering the few time it has taken to create interest in people around the world.
2/13 Bitcoin has gone from an idea in 2008, and a first transaction in 2009, to over 27 million users in the US alone in 2019. Today, Bitcoin accounts are trending toward all-time highs, even amid price movements, according to @CoinMetrics pic.twitter.com/S5f5jcDXDa
— Coinbase (@coinbase) October 31, 2019
Another point of interest, raised by Coinbase, is how Bitcoin’s decentralized network has managed to generate confidence in a significant number of users, becoming a method of storing value, investing and keeping information secure. Blockchain technology, intrinsically linked to Bitcoin, has managed to open a wide range of opportunities and technological advances. Recently, CNF published an article about a project that would allow Bitcoin transactions without internet or electricity.
Bitcoin’s performance
Coinbase data shows that it is one of the most highly valued assets by investors:
According to a national survey of 4,415 people that Coinbase conducted in association with Qriously, investors believe that the cryptocurrency, for example Bitcoin, will have a higher return than ETFs, index funds and shares of their own company within ten years.
Exceeding the performance of more than ten stock indices, since 2013, including the S&P 500, Bitcoin is one of the most successful assets of the decade. It has generated, according to Coinbase data, a return of 132%. In contrast, the Nasdaq 100 gave 17% returns, the S&P 500 12% and the FTSE Europe 500 11%.
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In addition, Coinbase also reported, like CNF did, the growing demand for Bitcoin in countries that are going through difficult economic or political situations. The cryptoexchange mentions Venezuela, Argentina and Hong Kong. The first country has the highest volume of transactions in LocalBitcoins, after years of crisis, citizens have been adapting to the use of Bitcoin and other cryptocurrencies. Something similar, in terms of adoption, occurs in the other two countries, the inhabitants who want to maintain total control over their money, for economic or political reasons.
Finally, Coinbase concludes in an optimistic tone for Bitcoin, as the beginning of a process of economic liberation, at its center two principles that human beings have always carry: the search for innovation and freedom.
