Bitcoin, the biggest cryptocurrency, first became a household name after its massive surge in 2017. During that period, which was also a time of significant growth for smaller cryptos like Ripple and Ethereum, Bitcoin was valued at a high of almost $20,000. However, it would go on to fall to below $4,000 before the end of 2018.
At the time, many commentators felt the cryptocurrency bubble had burst, once and for all. We can now see this analysis was entirely mistaken. On Sunday, January 3, Bitcoin prices sat at around $32,000. This reflects an increase of over 330% from the beginning of 2020.
Some industry experts feel this latest surge could indicate Bitcoin’s growing potential as a viable alternative to traditional fiat currencies.
On the 1st business day of 2021, #Bitcoin takes its rightful place atop the Financial Times.
“No force on earth can stop an idea whose time has come”― Victor Hugo https://t.co/hUqsy0IRjq
— Michael Saylor (@michael_saylor) January 3, 2021
Cryptocurrencies remain highly volatile; anyone considering an investment in them should ensure they do their homework before parting with any capital. Given the growing importance of eCommerce, however, and the interconnectedness of our global marketplace, it’s easy to see Bitcoin becoming more relevant to the average consumer in years to come.
Thank you to our friends at Republican Report for contributing this piece.