This Cryptocurrency Bull Believes Bitcoin Could Hit $1 Million in Less Than a Decade
If you think marijuana stocks have been on fire this year, then you haven't taken a peek at cryptocurrency returns. At one point earlier this month, the aggregate cryptocurrency market cap topped $161 billion, which represented an 810% increase from where they ended on Dec. 31, 2016. To give this some perspective, the average cryptocurrency over the first nine months of the year has delivered the same return as the broad-based S&P 500 over the past 27 years! Stocks are traditionally the greatest wealth creator, so this is a true eye-opener.
Leading the charge higher have been the two most renowned digital currencies, bitcoin and Ethereum. Bitcoin has risen by nearly 300% since the year began through Sept. 24, 2017, while Ethereum is up better than 3,400%. The duo now sports respective market caps of $61.3 billion and $26.9 billion, which account for well over half the aggregate value of all cryptocurrencies.
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Source: Fool.com
