THE FUTURE OF BITCOIN

The first thing you need to know about Bitcoin is that it is a cryptocurrency.

“What is cryptocurrency?” That is the question, isn’t it? The word “currency” screams money, so that’s the first clue to know we are talking about money.

Cryptocurrency is basically digital money. That’s it, money you use to buy and sell goods and services online. It can be used as both a store of value and a mode of exchange. Majority of the public convert their cash into cryptocurrencies because they believe it is better suited as storage against inflation. It probably is strange knowing that people could trust money that isn’t physical. Well, it is strange but only if you are just hearing about cryptocurrency for the first time.

If you are, I would advice that you make your research on crytocurrency before going through with this article.

So, back to the almighty and all powerful cryptocurrency, you really cannot argue the fact that it is a mighty and powerful currency. Anyway, there are so many cryptocurrencies out there, and more just keeps popping up like cute fireflies. There are over 5,000 cryptocurrencies already, but we would just look at a few, according to the market capitalization ofcourse.

NAME
PRICE ($)
PRICE (£)
PRICE (€)

BITCOIN
$59,844.14
£43,294.24
€50,886.14

ETHEREUM
$2,012.80
£1,456.29
€1,711.28

BINANCE COIN
$348.92
£252.44
€296.65

BITCOIN IS THE HOTTEST COIN RIGH NOW!
The name was obviously meant to mislead, it is not at all a little coin.

Bitcoin was launched in January 2009. It is the world’s largest cryptocurrency by market capitalization. It is the first peer-to-peer payment network, and it is completely decentralized, this means that no authority can create it unlike the physical currencies of the world or determine who has more of it and how it should be utilized. Bitcoin alone holds more than half of the market capitalization.

As at 2009, the price of Bitcoin was approximately $0. In the year 2011, Bitcoin became worth $1 in April and jumped to $32 in June of the same year. It is not a surprise that the prices of the various cryptocurrencies fluctuates, in November 2011, the price of Bitcoin drastically reduced to $2.

Cryptocurrency is such a beautiful thing, it is without a doubt a gold mine right now, here we are in the year 2021 with Bitcoin being worth over $50,000 and having more value than gold! Who would have thought that? Certainly not me, that’s for sure.

Currently, there are 21 million Bitcoins.

“THE FUTURE OF BITCOIN”