Yes, Crypto Could Be The 5th Best Performing Asset By 2024 – Benzinga

Investors weigh on every type of asset before putting their money on anything. It could be Apple Inc (NASDAQ:AAPL), Gold, Tesla Inc (NASDAQ:TSLA), or Silver. However, among all the top investment assets in the world regardless of class –companies, commodities, digital– cryptocurrencies are the fastest-growing one, expected to reach $5 trillion in market cap in three years. 

The assertion comes out of a Forex Suggest study that reveals the best investment in years to come by analyzing their average annual growth rates from 2018 to 2021 so far. 

What would it look like by 2024 and will these predictions be fulfilled?

The Cream of Market Cap

According to the analysis, Bitcoin (CRYPTO: BTC) is projected to be the 5th strongest performing asset by 2024 with an estimated market value of over $5 trillion. This feat will be achieved thanks to its 103.5% average annual growth rate. 

What is more telling is the assertion that Bitcoin could overtake titans such as Microsoft Corporation (NASDAQ:MSFT), Amazon Inc (NASDAQ:AMZN), and Google –Alphabet Inc Class A (NASDAQ:GOOGL) by more than $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,” the study claims. 

At present, the top 3 highest market caps are Gold with $11.3 trillion, ASML Holding NV (NASDAQ:ASML) with $3.1 trillion, and Apple with $2.3 trillion. Gold’s capitalization is driven by its high value in electronics, and its inability to be reutilized in this industry. 

In the case of the Dutch semiconductor giant, ASML has invested more than $7 billion in acquisitions in the course of 15 years, including Brion Technologies, Cymer, and Hermes Microvision. According to experts quoted on CNBC, the company is set to become a $500 billion business in 2022. 

5TH In The World

Bitcoin is paving the way to achieve such a feat by currently sitting at the top of the crypto market cap with $814.5 billion, followed by Ethereum ($352.3 billion) and Cardano ($66 billion). When compared to all assets, Bitcoin is placed 11th above the likes of Tesla (NASDAQ:TSLA), JPMorgan Chase & Co (NYSE:JPM), and Visa Inc (NYSE:V). 

In their projections, Forex Suggest says that Bitcoin’s market cap will hit $1.3 trillion come January 2022, and will double again in Jan-2023 and Jan-2024 to $2.6 trillion and $5.3 trillion, respectively. 

Crypto’s astonishing market cap growth is also driven by Dai, which “has soared in value over the past few years with an astounding 1040.38% average growth rate since 2018,” despite being not as well-known as other digital currencies. 

Dai (CRYPTO: DAI) is also projected to reach the third-highest market cap in 2024 ($2.5 trillion) behind Bitcoin ($5.2 trillion) and Ethereum (CRYPTO: ETH) ($4.1 trillion). “Dai is built on the Ethereum blockchain and is pegged 1:1 to the US dollar, which makes it a great choice for carrying out monetary transactions,” the report asserts.

Fastest growing Assets In 2021

Another telling revelation is that cryptocurrencies are the fastest-growing investments in 2021. The data depicts Solana at the top with a 3,476% growth in market cap, hitting $41 in September from $1.2 billion in January. 

Polygon sits second with a market cap growth of 2,859% in the same period, accounting for a total value of $5.6 billion, up from $187.9 million. Polygon is a platform for development and scaling on the Ethereum blockchain, and has benefited from the increasing interest in the latter.

In third place, Terra –whose LUNA (CRYPTO: LUNA) cryptocurrency is topping all-time highs and its network value has reached $10.22 billion– has grown from $695.3 million in January to $14.3 billion in September.