Can you believe that 9 years have passed since Satoshi Nakamoto, the anonymous creator of Bitcoin, released the initial whitepaper? It happened on October 31, 2008, and since then, the digital currency has evolved every year, even to the point that we can surely say that is a major global currency.
Within 9 years since its introduction (although it had its official launching in 2009, when Nakamoto mined the first block ever), Bitcoin has grown apart from the rest and has become a major store of value in countries like Japan, the US, South Korea, or Hong Kong. Not to mention that it has put fear in many state banks (got to mention Vietnam or Singapore).
We can already call it an industry!
When we’re speaking about Bitcoin, we’re automatically thinking at a $2 billion trading volume (sometimes $4 billion, at its peak), one that rivals with the trading volume of Apple, the world’s most liquid stock.
Earlier this year, the Japanese government stated cryptocurrency and Bitcoin exchanges as legitimate financial service providers, changing strategies for many big companies in the country. Japan’s largest budget airline Peach, major budget hotel chain operator Capsule, and leading electronics retailer Bic Camera have adopted the coin as a payment method, says CCN.
Bitcoin is now more valuable than gold
”There is a certain finite amount of Bitcoin that can ever exist. Gold gets mined and mined and mined. Maybe there’s a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics,” said Apple co-founder Steve Wozniak. After 9 years, that’s what the cryptocurrency has become – better than gold.
The market will certainly grow even more when institutional investors will show up at its doorstep. By the end of 2017, the number of institutional and retail investors in Bitcoin is expected to surge, meaning that the future for the digital currency is only getting brighter.