2021 predictions for Bitcoin show that the world-famous cryptocurrency will rise to 400,000 dollars by the end of the year spelling its highest ever value. Bitcoin’s growth, since its beginning back in 2009 has been exponential, making millionaires across the globe of investment beginners and seasoned investors. Although Bitcoin has had its ups and downs in the crypto market, it is still the most popular cryptocurrency, outrivalling its biggest competitors Ethereum and Litecoin. So how has the history of Bitcoin pathed the way for this crypto giant to remain in the top spot and continue to make a huge profit for those who invest in it?
The History of Bitcoin
It’s still unknown to this day who created Bitcoin, the anonymous person or group of people is instead referred to as ‘Satoshi Nakamoto’. At first, financial experts were skeptical of the new idea of “cryptocurrency”, considering it to be more dangerous than physical currency that we are accustomed to. However, Bitcoin’s popularity grew so much from 2009 into the 2010’s, that experts were starting to predict that cryptocurrency could, indeed, be the future.
Bitcoin has had a reasonably steady path to success, considering it started a completely new market and had little to no insight into how exactly it would perform. It’s steadily grown its user base, with more and more people across the globe choosing to invest in Bitcoin year on year to the point where there is now estimated to be more than 100 million Bitcoin owners worldwide. In the USA alone, 14% of their entire population is said to own Bitcoin, the most out of any country in the world.
Bitcoin started making millionaires of people early on, with a cascading effect meaning more and more people were making the seven figure profit. Those who have reportedly made the most from Bitcoin are Barry Silbert, Tyler and Cameron Winklevoss, Michael Novogratz and Dan Morehead.
They’re not the only winners when it comes to Bitcoin, however, with every new service and product comes the emergence of new platforms and integrations that work alongside it. Enter cryptocurrency auto-trading platforms. There are hundreds of these platforms, all providing users with the chance to buy and invest with Bitcoin, with low or no effort at all. These platforms have undoubtedly helped to boost Bitcoin’s usage, especially since they’re perfect for the untrained investor or someone who wants to make a passive income.
Famous People and Bitcoin
The auto-trading platforms aren’t the only thing to give Bitcoin a great push in terms of popularity and use, the media attention around famous people buying Bitcoin has also helped. Big names such as Bill Gates, Ashton Kutcher, Gywneth Paltrow and Paris Hilton have all been associated with buying Bitcoin, piquing the interest of millions of their fans across the world.
One of the most interesting trends, however, is the sporting greats that seem to continuously invest in Bitcoin. From multi-millionaire boxing champion Floyd Mayweather and old-school boxing legend Mike Tyson, to tennis superstar Serena Williams and arguably the best footballer in the world, Lionel Messi, there’s a vast amount of sports stars who see the huge potential in Bitcoin.
The biggest fan of Bitcoin, however, seems to be the reputable entrepreneur Elon Musk. Anything that has the backing of Musk almost always sees an increase in demand, especially since he’s very open and honest about the products and services that he does and doesn’t believe in. Musk is such a fan that he bought 1.5 billion dollars of Bitcoin for Tesla, and has openly stated that he believes Bitcoin is the future of currency.
Why is Bitcoin so Popular?
Other than the fact that it’s considered an easy way to make money (and quickly depending on how much time you spend on your investment), it’s highly regarded as one of the safest and most secure currencies. Despite this, it’s constantly being worked on to ensure that even tighter security measures are in place, the more that Bitcoin grows.
Bitcoin is also popular because of its digital format and use of e-wallets, its use of the very best technology, its stability in the market and its availability to almost everyone.
What is the Future of Bitcoin?
Bitcoin has survived two major crashes, one in 2018 nicknamed “the cryptocurrency bubble” and its most recent, in April of 2021. Both times Bitcoin has managed to not only survive these crashes but to end up equalling or increasing its value that it had prior to the crashes. This means that regardless of whether there’s a next crypto crash on the cards for Bitcoin, the likelihood is that history will repeat itself and Bitcoin will come back stronger than ever and better yet, valued higher than ever.
With the Japanese government recently announcing that it will now accept cryptocurrency as an accepted method of pay, it’s inevitable that the rest of the world will soon follow. More governments across the world are actively in talks to pathe the way for cryptocurrency to also be a validated payment method, and if they go ahead, this will mean a huge increase in demand for the likes of Bitcoin.
So is it still a good time to invest in Bitcoin? It’s the very best time to invest with the growth for Bitcoin set to skyrocket over the next 7 months. If the world starts to use Bitcoin, and other cryptocurrencies to actively buy and sell things with, it’s almost imperative that you start to buy Bitcoin now. Whether you want to buy it so you’re ready for when the global governments give the go ahead or whether you’re looking to start or expand your investment portfolio, there’s clearly never been a better time to invest in Bitcoin.