Tags: bitcoin | worst | investment | 2014

Bitcoin Worst Investment of 2014, According to Bloomberg

By    |   Monday, 29 Dec 2014 10:05 AM

Bitcoin was dubbed one of the worst investments of 2014, with its value plummeting further than any other major currency on the planet.

Last week, Bloomberg reported that all of the world's major currencies lost value in the face of the almighty U.S. dollar this year, with the Russian ruble imploding a whopping 45 percent in the face of economic sanctions for its invasion of Ukraine, as well as falling oil prices across the globe.

Bitcoin, however, lost even more value than the ruble.

"But there's one currency that did worse in 2014, depending on whether you think virtual currencies are real money," wrote Bloomberg. "A bitcoin has lost 58 percent of its value in U.S. dollars this year, and 72 percent since last November. If you'd invested $10,000 in bitcoin at the beginning of 2014, it would be worth $4,202 today."

Adding insult to injury, Recode compared bitcoin to a number of sectors long thought to be dead-men-walking, and it did worse there too.

While bitcoin dropped 58 percent, camera film — as measured by Kodak stock — dropped only 38 percent, for example. The newspaper industry — as measured by shares of the New York Times Co. — only fell 12 percent.

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Bitcoin was dubbed one of the worst investments of 2014, with its value plummeting further than any other major currency on the planet.
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2014-05-29
Monday, 29 Dec 2014 10:05 AM
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