You might be wondering if it’s worth investing in cryptocurrencies. After all, just because something is performing now, doesn’t mean it will in the future. And we all know that investments are about longevity.
A recent study, by Forex Suggest looked at the average market capitalisation growth of gold, silver and the top global companies, alongside the biggest cryptocurrencies, to reveal what’s on track to be the best investments in years to come.
These are projections of what the market cap of assets could look like by 2024 when analysing average annual growth rates from 2018 to 2021 thus far:
(This only includes assets with data stretching back to 2018 for sufficient analysis.)
As you’ll see from the graph, by 2024, three cryptocurrencies are on track to break into the top 10 best performing assets.
Bitcoin is projected to be the 5th strongest performing asset by 2024, with an estimated market value of over $5 trillion thanks to its 103.5% average annual growth rate. It would surpass long-standing giants including Microsoft, Amazon and Google by over $1 trillion.
Bitcoin is currently dipping in and out of the top 10 highest value assets, but in just a few short years it could solidify its place.
Ethereum sits just behind Bitcoin, with an even higher average annual growth rate of 198%, set to be the 6th strongest asset in 2024. With a projected $5.1 trillion valuation, it would equally outperform the current top dogs like Facebook and silver, and the recent NFT boom can only strengthen its growth.
The coin with the third highest projected market cap is Dai, which could have a total value of $2.5 trillion. Because of its non-volatile nature, this coin has grown at an astonishing rate – 1040.38% on average every year since 2018. But, it is pegged 1:1 with the US dollar, so it is not necessarily seen as an investment choice.
Will you be taking your chances on cryptocurrency? As with any type of investment, your capital would be at risk, but this research indicates that it could be a chance worth taking.