Bitcoin has reached the $1 trillion mark after only 12 years of its release, which is around 3.5 times faster than Apple and Microsoft

A lot of people are not really familiar with Bitcoin; Bitcoin is a virtual or digital currency that was invented in 2008 by an unknown group of people with the name of Satoshi Nakamoto. It is a network that works on the protocol called blockchain. The currency started to be in use in 2009 when this was released as an open-source software. Bitcoin has made itself as the world’s most popular crypto currency. As per CryptoParrot, only after 12 years, Bitcoin has been able to reach the $1 trillion market value! The same value which Microsoft was able to reach after 44 years and Apple about 42 years. Google took 21 years while Amazon took 24, which means that Bitcoin was able to achieve this $1 trillion target twice as fast as Amazon and thrice as fast as Apple. This speaks great volumes on how Bitcoin was able to make its mark that quickly.

Bitcoin is actually one of the most successful virtual money system out there. It remains the largest crypto currency by market capitalization and was able to attain so in a very short span of time. The growth Bitcoin has been able to achieve in these past few years has been outstanding as compared to other mega cap US tech companies. Bitcoin’s market cap rate growth at the present moment is said to actually beat the highlighted traditional assets’ value in the near future, according to the reports. Due to the COVID-19 pandemic, when every other field was declining, the technology one was soaring, and even though the technology stocks have soared a lot from last year but no one has been able to beat the value of Bitcoin and the things that it was able to achieve. According to the reports, it is most expected that Bitcoin’s market success will for sure beat other high end companies who have been there in the market stocks for longer periods of time such as Tesla.

It is said that Bitcoin’s aim at the moment is to develop a payment system to grow value but how and where Bitcoin will be used in the near future is only for us to see. Many see this as a platform where confidential contracts occur. The system which Bitcoin has established has caught the attention of many government authorities as well as private ones. The block chain protocol which Bitcoin uses can also be termed as the most impactful one out there.

(Disclaimer: The data and views expressed herein are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities. Differences in account size, timing of transactions and market conditions prevailing at the time of investment may lead to different results, and clients may lose money. Past performance is not indicative of future results.)

Disclaimer: The information provided in this post is for educational purposes only and should not be treated as investment advice.

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