What is Bitcoin? | Understanding the world’s first decentralized currency

The First Digital Settlement

Bitcoin 101 – Currency Shares

Bitcoin Half

Bitcoin depletion means a reduction of half of the rewards of new mines, while miners receive 50% less bitcoins for confirming what has happened. Bitcoin halving is expected to occur once per 210,000 blocks, approximately every four years, until the amount of 21 million bitcoins generated by the network. The last downfall of Bitcoin was in May 2020.

Bitcoin exchange

Bitcoin continues to prove that opponents are wrong as it accelerates its global establishment between major global companies and hedge funds. Tesla recently announced that it had purchased $ 1.5billion (£ 1.1bn) of Bitcoin.

MicroStrategy, the world’s largest business intelligence company, has taken Bitcoin as its archive with more than 90,000 Bitcoin, equivalent to $ 3 billion.

Although Bitcoin has been very successful in 2017, some companies expect Bitcoin to grow significantly in the coming years.

Tyler Winklevoss, founder and CEO of crypto exchange Gemini expects the value of Bitcoin to reach $ 500,000 or more within the next decade. He explained:

“Our hypothesis is that Bitcoin is 2.0 gold and will disrupt gold. If it does, it should have a market of $ 9 trillion. That is why we think Bitcoin can buy one day $ 500,000 bitcoin.

The value of Bitcoin

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