Cryptocurrency has become a huge part of our lives recently, especially since the Japanese government announced that they now accept crypto as a valid currency. So why has it become so popular to the point where governments across the world are now considering following Japan’s ruling? Enter Bitcoin.
Bitcoin’s growth
Bitcoin was released in January 2009 by an anonymous group of people, or person, that goes by the name of Satoshi Nakamoto. Initially, Bitcoin started slow, attracting little media attention, and a small collection of early investors. However, Bitcoin’s growth started to surge as more and more people became aware of the cryptocurrency, and its benefits over standard currencies, like extra security layers and encryption. Once word started to spread, soon enough Bitcoin was increasing it’s value exponentially, and by early 2021, it was worth over £35,000 per coin. The trading bots such as immediate bitcoin is the best choice if you are serious about bitcoin trading. Using the immediate bitcoin bot you will be able to redesign your everyday trade. Have a look at this Immediate bitcoin software vergleich to know more about the bot. If you are new to bitcoin trade, the bitcoin bots are very helpful as they do not require your active involvement.
This growth came as a surprise to financial experts across the globe, mainly because they didn’t see cryptocurrency becoming very popular, believing that the majority of people would prefer more traditional methods of payment. Financial forecasters were so sure that Bitcoin wouldn’t perform that they believed that within the first five years of its release, it would essentially crash and burn and that would be the end of the cryptocurrency market. Instead, we’ve not only seen Bitcoin take the world by storm and generate thousands of millionaires, but it’s paved the way for other cryptocurrencies to emerge like that of Ethereum and Litecoin.
Bitcoin across the world
It’s estimated that over 100 million people in the world own Bitcoin and at least 80% of these actively trade with their Bitcoin. To put that into perspective, that’s the entire population of the United Kingdom plus 30 million people, who are actively using this cryptocurrency and who actually buy cryptocurrency. Even more shockingly, that figure is set to increase in the next 3 to 5 years by over 20%.
In the USA alone, 14% of the entire population own Bitcoin, making it one of the most evolutionary currencies we’ve ever seen. But why have so many Americans opted for Bitcoin? Is it because they’ve been swayed by Elon Musk being an open ambassador for cryptocurrencies and the future of currency as we know it? Or are they following their favourite sports stars like Serena Williams and Floyd Mayweather and investing? Whatever it is, they’ve made a good decision considering Bitcoin is set to break all its own value records by the end of the year, meaning they’re set to make a tremendous profit.
Bitcoin’s successes and crashes
It’s not been all smooth sailing for Bitcoin, which makes their growth even more impressive. Since 2009, Bitcoin has suffered two major crashes, one in 2018 and one in 2021.
The 2018 crash was dubbed the end of the “cryptocurrency bubble”, effectively the immense decline in the surge in popularity that crypto had previously experienced. The bubble definitely did burst for Bitcoin, as they lost over 80% of their value during the crash, with forecasters predicting that they’d never recover. Thousands of people and businesses were quickly trying to sell their Bitcoin at cut prices, in the hope of not losing all of their money entirely, making Bitcoin’s value drop even further. Surprisingly, Bitcoin managed to plateau the decrease and stabilize itself and in turn, the cryptocurrency market, and after just 4 weeks from the crash, Bitcoin was at the same value as it had been previously. The result? People started reinvesting in Bitcoin and new investors started to see the potential in the currency, considering it had survived a major crash and managed to bounce back so quickly and effectively.
The second Bitcoin crash came in spring 2021, just as Bitcoin was at an all time high. With millions of people now owning Bitcoin, financial experts were predicting a huge crash that would hit the market more than ever before and unfortunately, that’s exactly what happened. When the crash came, it wiped over 300 billion dollars off of the crypto market, not just affecting Bitcoin but also its rivals Ethereum and Litecoin. All cryptocurrencies saw their value drop significantly, causing widespread panic for owners and investors of Bitcoin. Again, however, Bitcoin managed to stabilize itself in just over 7 days, bringing itself back up to a record-breaking value of £54,000 per coin.
Famous Bitcoin investors
There are many famous investors in Bitcoin, from the technology world to the celebrities in Hollywood. One of the most famous investors is Elon Musk, who bought so much Bitcoin for Tesla that it’s set to make a higher profit from its Bitcoin investment than from the sales of its own products by the end of 2021.
Other famous names that are involved with Bitcoin include award-winning rapper 50 Cent who, in 2014, accepted Bitcoin as valid payment for his Animal Ambition album which made him a Bitcoin millionaire!
There are hundreds of other Bitcoin millionaires, and even Bitcoin billionaires. The first were the famous Bitcoin billionaire twins Tyler and Cameron Winklevoss, who invested in Bitcoin very early on and have now made billions of dollars from their Bitcoin investments.
They’re not the only ones to profit big time from the cryptocurrency. Shark Tank’s Kevin O’Leary claims that 3% of his entire wealth is now from Bitcoin, which equates to billions of dollars alone.
Combine all of these with the likes of Oscar-winning Gwyneth Paltrow, rapper Snoop Dogg, Ashton Kutcher and British comedian Rob Brydon all reported to have invested and made millions, and it’s understandable why more and more people are choosing Bitcoin.
3rd party Bitcoin tools
With the evolution of Bitcoin comes the emergence of 3rd party platforms that make investing and trading with Bitcoin even easier. These platforms use an automated bot to identify the best trading deals on the cryptocurrency market for you so you don’t have to do a thing. Users have claimed to have made ten times their initial deposits from these platforms, with little or no previous experience in investments.
Why you should invest in cryptocurrency
Investing in cryptocurrency is one of the easiest and safest investments that you can make, especially if you opt for Bitcoin investments. It’s been proven time and time again that huge amounts of money can be made, without the need for any prior knowledge of trading or even crypto. Whether you use a 3rd party platform that does all of the trading on your behalf, or you simply want to add Bitcoin to your investment portfolio, there’s still so much money to make. What are you waiting for?
