Bitcoin turns 12, happy birthday!

Bitcoin turns 12, happy birthday!

By Roberto D. | CryptoFarm | 1 Nov 2020


It has been 12 years since, on 31 October 2008, Satoshi Nakamoto published the famous manifesto (whitepaper) in which he spoke of a new completely electronic money.

It was the beginning of Bitcoin. The first block was generated on January 3, 2009, while on February 9, 2011 the value of the most noble of cryptocurrencies reached the value of 1 dollar for the first time.

Since then, passing between three halvings (the halving of production took place in 2008, 2016 and 2020), Bitcoin has literally exploded and is now worth 13,500 dollars (quotation as of October 29, 2020).

This year alone, the Nakamoto cryptocurrency has recorded a jump of about 83% compared to $ 7,376 at the end of 2019. And the growth seems to be destined to last over time, due to the effect of the latest halving that, if were to respect the proportions of the increases that followed the previous halving of production in 2012 and 2016, it could even push prices up to the exorbitant figure of $ 400,000.

 

 

The year of regulation

But rather than for the 12th anniversary, 2020 could be remembered as the year of regulation for Bitcoin, with crypto-asset regulation at the European level that is now upon us.

The European Commission which has set itself 4 objectives:

  • Ensure legal certainty,
  • Building a homogeneous regulatory framework,
  • Support innovation,
  • Promote consumer and investor protection.

The large bitcoin community, although fragmented and often of very different opinions, has always been very attentive to the regulatory aspect and in fact 2020 was a positive year for volumes.

 

 

Bitcoin lovers (according to eToro)

eToro has verified from the analysis of its over 16 million users operating from 100 countries around the world that:

  • Globally, 62% of users have invested in cryptocurrencies.
  • Cryptocurrencies represent 21% of the average 2020 portfolio globally, with Bitcoin occupying over 4%.
  • European investors reward investment in digital currencies more, reaching 28% of their portfolio (Bitcoin represents 5%).

It should be noted that 12% of these investors have chosen to invest in cryptocurrencies with a long-term horizon, holding the position for over a year.

First in the ranking, however, are the British who, again on the eToro platform, have an average portfolio with over 32%, represented in "crypto" of which, however, only 4% is of Bitcoin, but with 23% of investors who they hold the position for over a year.

 

 

The numbers of 2020 and the halving

On December 31, 2019, the price of Bitcoin was $ 7,376, while today it is worth $ 13,500 (I know, the value is variable, somewhere I will have put the price in real time).

Growth was approximately 83%, with market capitalization increasing by 618%, from $ 626 million to over $ 4.5 billion.

The most important event of the year occurred in May 2020: it is the so-called halving, which happens every 4 years.
This year was the third since the birth of Bitcoin.

Basically, to protect the value of the coin, Nakamoto has decided to halve the amount of Bitcoin produced every 4 years (now 6.25 are produced every 10 minutes). In this way, the generation of new cryptocurrencies is discouraged but, by not decreasing the demand, the value of those already created increases.

 

What do you think of Bitcoin in general? Do you like the currency? At 12, is it time to bury her and move on to more promising ones? Just let me know yours in the comments I'm very curious about it.

As always, thank you if you have come this far, and see you next time!

 

 


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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 https://linktr.ee/robertod


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