Whoop, there it is. Everyone’s favorite cryptocurrency – Bitcoin – has broken ten thousand USD per coin – but what does it mean for the future of the revolutionary tender?
In. Your. Face. That’s what you can say to anyone who ever doubted the power of Bitcoin – assuming you’ve met those sort of folk face-to-face. On one hand, we get it. It’s sudden and somewhat violent rise to mainstream prominence has left some wary.
It doesn’t help that it resides squarely in the often-misunderstood realm of finance and fiat. Hangups notwithstanding, it’s time to celebrate folks: Bitcoin broke $10,000 USD for the first time.
In case you were snoozing, Bitcoin broke the 10k mark for the first time on the 28th of November 2017 – a year after it was only valued around ~800. While we must be honest and stat that a nice round number is really no indicator of an assets future success, it’s the speed and voracity at which the coin’s value has risen that catapulted it up to the world’s hottest investment darling.
While many have argued that mass amounts of people buying and holding the coin won’t bring any sort of value to it, the market has proven that it wanted to head in a different direction.
While it’s true that there are some out there who only buy and hold Bitcoin, its ubiquitousness as a legal and fully-digital form of fiat have created a market of continuous circulation.As more individuals join the network and demand rises, the predict unfolds according to plan: Bitcoin rises in value.
What is perhaps most impressive is not just that the currency has managed to hit 10k – it’s that it managed to hit 10k while also fighting back a concerted effort by mainstream media outlets to slander its name. It doesn’t take much to realize the threat that Bitcoin poses to well-entrenched financial institutions – and it didn’t take them long to clue in either.
Since then, major financial pundits with bank backing have touted the “Death of Bitcoin” for years on end, and it seems like their attempts to stem the growing tide have only served to draw more people’s attention to the incredible cryptocurrency, Such sweet irony.
Yes, the future of Bitcoin does indeed look bright, and should its opposition continue to bang their fists against the posts in meek attempts to derail the skyward bound coin, we can only count on one thing: that even more folks will learn about it and bring themselves into the fold.
So, remember, no matter how high or low you might find the price, just hold. Ah, who are we kidding? Use that bad boy as you would any random dollar – and open up a world of convenience and ease for yourself you’d be hard-pressed to find with any other form of currency.