10 turbulent years since the birth of Bitcoin

Avatar of Nick John By Nick John Dec22,2023 #Bitcoin #turbulent
10 turbulent years since the birth of Bitcoin 3
10 turbulent years since the birth of Bitcoin 3

Bitcoin was created on October 31, 2008.

Created during the global financial crisis by a figure known as Satoshi Nakamoto, Bitcoin has a political vision.

The ambition to create virtual currency was sparked after the collapse of Lehman Brothers bank (USA) in September 2008.

Bitcoin simulation money displayed in a store in Israel.

After its birth, Bitcoin quietly developed for several years, mainly attracting the attention of techies and criminals.

After surpassing the $1,000 mark for the first time in 2013, Bitcoin began to be noticed by financial institutions.

In early 2014, Bitcoin faced its biggest crisis since its inception.

As a result, the price of this digital currency plummeted, sparking predictions that Bitcoin would die.

By early 2017, Bitcoin had fully recovered.

In January this year, the total value of all virtual currencies in the world exceeded 800 billion USD.

However, thanks to Bitcoin, the concept of digital currency has improved a lot, virtual currency analyst Bob McDowall said on AFP.

Meanwhile, for economist Nouriel Roubini, decentralization in cryptocurrency is a myth.

10 turbulent years since the birth of Bitcoin

A Bitcoin ATM in Hong Kong.

The original idea of Bitcoin was to support payments.

He expects Bitcoin’s transaction speed to increase.

US officials are also considering an application to establish a Bitcoin ETF.

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