For the average American, Bitcoin is still a bit foreign, but chances are that will be changing in the near future.
In May of 2021, Bitcoin hit an all-time high at over $65,000 and investors are paying attention. To understand Bitcoin and where it is today, it’s important to know where it came from.
It all started in 2009 with Bitcoin being the first successful cryptocurrency, but at the time, the coin’s value was undetermined. In 2010, Bitcoin was used to make a purchase for the first time; 2 pizzas for 10,000 BTC. This purchase established Bitcoin’s monetary value.
By 2013, Bitcoin had reached a value of $1k, but it crashed to $300 and would take three years to recover. From 2013-2017, Bitcoin grew slowly as banks and fintech institutions began investing. Bitcoin value skyrocketed to $19k in 2019.
In 2021, investors view cryptocurrency as a portfolio optimizer. We’re expected to see rapid adoption of crypto cards, and crypto investment is expected to rise quickly as the US dollar continues to weaken, making cryptocurrency the future of finance.
Learn more about the Bitcoin bull run in the infographic below:
Source: Expensivity
