Since 2008, Bitcoin and the entire digital currency asset class has made headlines from the mystery of Satoshi Nakamoto (a name to a person or group that has never been proven to exist), to Bitcoin being worth a penny per coin, upwards to $1,200 per BTC in 2013, then dropping to $200 in the midst of a day. Now upwards of being worth up to $17,500 per BTC.
Since the increasing popularity of digital currencies since 2011, the volatility remains stagnant. As more and more begin to adopt the idea of cryptocurrency, the more questions seem to arise with few answers that follow.
- What types of regulations will be set in place?
- How will governments react?
- Will Bitcoin be accepted by Amazon and other large eCommerce platforms?
- Will Bitcoin replace the dollar?
- How high of a price will Bitcoin go?
- Where will Bitcoin be 5 to 10 years from now?
Our research and analysis show, as of current date, the overwhelming majority view Bitcoin as a speculative investment. The currency is perceived by the majority of the overall general population as an investment vehicle with a specific market trend.
Although, there is another side of the spectrum, from a more specifically designated group, the “cryptocurrency community,” believe the concept as an asset is a better means than the current monetary and financial system. Imagine, a peer to peer decentralized currency that will one day be used by every person regardless of where they are in the world.
The barrier of entry with the coin simply lies within the complications of its technology. No matter how many times it’s explained, the average person just can’t seem to get a grasp the idea of cryptocurrency. The exchanges, their trading capabilities, and how vendors are accepting Bitcoin as a form of payment.
A lot of people are simply left dazed and confused at the overall idea and don’t have the time to figure it out or get involved.
A New World of Investing – Introducing The Digital Currency Asset Class
With the current total market cap of over $271,707,406,960 for (BTC), Bitcoin, there’s one thing that can be said, and that is there is a lot BTC floating around with dollar signs attached to each of them.
One can only ask, how can each coin be worth $7,526.23?
At what price in value can the coin reach? Will it drop back to its value of once zero? Will governments collectively deploy plans and regulations to finally shut down the use of digital currency once and for all?
There are so many questions, all of which for now, only time will tell.
If you’ve been following Bitcoin for over the past half a decade, there have been tons of scandals, stories, and questions about Bitcoin and the overall community that surrounds it.
From the dark corners of Silk Road, the use of buying and selling illegal products and services in the deep web, to the scandals and exchange hacks resulting in hundreds of millions of dollars in losses for investors from MtGox, BTC-e, and other exchanges.
With only 21 million Bitcoins to be created by an estimated time date of 2140, three-fourths of which have already been mined (acquired), an assumed 3-4 million coins lost, the latest statistics report show:
- 15 million bitcoins have been mined so far.
- This represents two-thirds of the 21 million bitcoin limit.
- 10% of Bitcoins haven’t been active since 2012, and a substantial 35% haven’t been spent since 2011.
- 4 million Bitcoin has never been used since 2012 (most likely gone forever).
- 9 million Bitcoin has not been used since 2011.
Who knows where the fate of Bitcoin lies. The progressive growth of cryptocurrency earliest adopters have lead to stronger technology and security as individuals and investors begin to increasingly invest in coins. At Coinjolt we’re at the forefront of that change and you’re invited to come along.