The Global Success And Adoption Of Bitcoin
When Bitcoin was created in 2008, its inventor envisioned a currency that would be adopted by the whole world. It was a big dream, but the growth in the amount of Bitcoin investors that exist every year suggests that this goal could one day be imagined.
Today, the market cap for Bitcoin is $129,960,536,478. That’s despite its value sitting around $7,590 – more than half of its December 2017 value.
Bitcoin has grown in value every year and enjoyed a value growth of around 20x in 2017. While some nay-sayers claim that its value has peaked, others suggest there’s no reason why another 2,000% annual growth isn’t around the corner.
Global use and recognition
The list of big companies accepting Bitcoin as a payment is growing all the time. They include global superpowers such as Microsoft, Tesla, and Shopify.
While some central governments are doing everything they can to limit the growth of cryptocurrency in their country, the trade of digital currencies is unrestricted in 103 of 246 countries. At the time of writing, there were 10,816 Bitcoin nodes online.
Paving the way for other cryptocurrencies
Bitcoin was the first Cryptocurrency to exist. There were no plans for Blockchain technology to be used for anything else.
Still, it has paved the way for other cryptocurrencies to be created. There are currently 23 cryptocurrencies with a market cap of over $1,000,000,000 and 98 cryptocurrencies with a market cap over $100,000,000. Several new cryptocurrencies are being made available to invest in every week, via ICOs made possible with blockchain technology.
The global success of blockchain technology
Regardless of whether Bitcoin does become the currency of choice for the entire world, it seems sure that blockchain technology will make a huge impact on our day-to-day lives.
Although the use of blockchain technology outside of financial services is still in its early stages, there is work being done to try and make the blockchain disrupt dozens of industries.
It is believed we’ll be using blockchain technology to sign contracts, buy music, order goods and services, store personal details, post social media content, or even to vote for the U.S President within the next few years.
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