Given the recent downturn in the crypto market, it can be hard finding a good investment to make with $1,000 right now. That's why I'm going with a cryptocurrency that has an incredible historical track record and plenty of proof that it can bounce back from adversity, regardless of overall market conditions.
For more than a decade, Bitcoin (BTC +0.23%) has been the one cryptocurrency you needed to hold as an investor, and now is no different. So forget about speculative meme coins and trendy altcoins promising sky-high returns. Go with the market bellwether, and you won't be disappointed.
Bitcoin's track record
Since 2010, Bitcoin is up a staggering 210,000,000%. No, that's not a typo. After hitting an all-time low of $0.05 back in July 2010, Bitcoin has been on a rocket ship, and now trades north of $105,000.
Year after year, Bitcoin has posted double-digit and even triple-digit returns. In 2023, for example, Bitcoin soared by 157%. In 2024, Bitcoin skyrocketed another 125%. https://www.wisdomtree.com/investments/-/media/us-media-files/documents/resource-library/market-insights/gannatti-commentary/bitcoin-correlations.pdf
Image source: Getty Images.
That's why I'm willing to cut Bitcoin some slack for its down years, which have occurred roughly every four years. In 2014, 2018, and 2022, Bitcoin lost 58%, 74%, and 64% of its value, respectively.
Bitcoin's resilience
That's where Bitcoin's resilience comes into the picture. Even after drawdowns of 70% and higher, Bitcoin has shown an uncanny ability to bounce back. After a disastrous performance in 2022, for example, Bitcoin doubled in value in each of the next two years before zooming past the $100,000 mark in December 2024.
CRYPTO: BTC
Key Data Points
Admittedly, past performance is no guarantee of future performance. But if you place a premium on historical track record when differentiating between cryptocurrencies, Bitcoin is the no-brainer option.
