Why it matters: As we wave goodbye to the 2010s, it’s time to look back on the best the decade had to offer. You might have read about the top apps, games, and tech, but what about the best investment? Not too surprisingly, it was bitcoin, which, if you bought for $1 ten years ago, would now be worth over $90,000.
According to a recent report from Bank of America Securities (via CNN Business), those who bought into the virtual currency when it cost a fraction of a penny at the start of the decade will have seen their investment skyrocket.
In December 2017, bitcoin reached its peak of almost $20,000—a bad time for PC gamers, who saw graphics card prices rise and their availability decline as people built mining rigs. But just a year later, the price went as low as $3,200. Bitcoin recovered over the last year—at one point, its surge helped drive up AMD shares—and although down slightly, it is now worth around $6,600.
With more companies accepting bitcoin as a form of payment and the—admittedly troubled—Libra from Facebook further legitimizing digital currency in some skeptic’s eyes, bitcoin could see its price rise further next year.
The report also lists some of the decade’s worst investments. These include kyat—the local currency of Myanmar. Conflict in the nation formerly known as Burma means one dollar invested in kyat ten years ago would now be worth four-tenths of one US cent. Additionally, investing one dollar in the Greek equity market in 2010 would now only be worth 7 cents, but $1 of American stocks would now be valued at $3.46, representing a gain of around 250 percent.