Was Bitcoin the Best-Performing Asset of the Decade? (AIER)
On the first day of the new decade, bitcoin’s price was $7,180. On January 1, 2010, it might have been $0.50, or $0.07, or even $0.0036. It’s hard to tell, as there wasn’t exactly a liquid bitcoin–dollar market at that time and price histories are hard to come by. As we’ll see, the only way that an asset can post the spectacular returns that have lately been celebrated for bitcoin is by starting from a ridiculously low base.