BTC Birthday 16
1 comment
On January 3, 2009, an event took place that would revolutionize the world of finance as it was known until then, because that beginning of the year would not be the same as the rest since an unconventional mining activity was started, that January 3, the famous Genesis block of the most important Blockchain in the world known until now was mined.
No one, not even Satoshi Nakamoto himself, had any idea how revolutionary it would be to take cryptography to this level, and create an asset that 16 years later would be among the assets with the highest market capitalization, surpassing giants such as Facebook and Tesla and ranking as the seventh asset with the highest market capitalization, and that will undoubtedly continue to grow in the coming years.
The seven assets with the largest market capitalization:
Gold: With a market capitalization of US$ 17.98 billions.
Nvidia: With a market capitalization of US$ 3.595 billions.
Apple: With a market capitalization of US$ 3.419 billions.
Microsoft: With a market capitalization of US$ 3.13 billions.
Amazon: With a market capitalization of US$ 2.16 billions.
Alphabet (Google): With a market capitalization of US$ 2.07 billions.
Bitcoin: With a market capitalization of US$ 1.94 billions.
Forks in BTC
Since 2009 Bitcoin has followed an ascending price line, with its setbacks in the so-called bear markets (Beard Season) and has maintained a constant activity in its creation or mining process, suffering several forks in its 16 years, however, none of this has taken away its place as the queen of cryptocurrencies and dominance over other cryptos.
The first Bitcoin Hard Fork occurred on August 01, 2017 resulting in the birth of Bitcoin Cash (BCH) a coin that by the time of publication is trading at $473.96.
The next Fork takes place on November 15, 2018 so that Bitcoin SV (BSV)was born and is currently trading at $55.46.
In addition, there was a third hard fork in Bitcoin that ended up bringing Bitcoin Gold (BTG) to the cryptocurrency world and right now its price is around $8.91.
You may find it useful:
Largest BTC holders
Currently having a Bitcoin is the dream of many, so much so that it is very common to hear or read people lamenting saying things like “Where was I in 2009 that I did not buy BTC?”, and today there are many who join the purchase of BTC trying to have it as a store of value for the future.
According to an article in Binance the biggest holders of BTC until 2024 were: First, the creator of Btcoin himself Satoshi Nakamoto who owns the enviable sum of 1,100,000 BTC (1.1M BTC), in second place, sits Binance Exchange who according to this article owns 550,133 BTC, next on the list is BlackRock with a sum of 305,614 BTC and the list goes on.
Halving Bitcoin
One of the most surprising aspects from my point of view in BTC is the so-called HALBING, this, together with the fact that Bitcoin is a deflationary asset, i.e., less and less Bitcoin is mined per block.
First of all, the production or mining of Bitcoin has a limit set at 21 million coins and according to estimates the last Bitcoin will be mined in the year 2140; unlike the fiat currency that governments print or mint at will BTC has a minting limit.
But what is Halving, as I understand and explained in my own words, it is an event that happens every four years, or when a certain number of blocks are mined (Every 210,000 blocks mined), and thereafter, the rewards miners receive for each block mined is halved.
Halving has occurred on four different occasions, and to give you an idea of the importance of this event, the first one occurred in 2012 and the reward for each block mined was reduced from 50 to 25 BTC, in 2016 the reward went from 25 BTC to 12.5 BTC, in the third Halving, in May 2020, it went down to 6.25, and in the most recent one last year the reward was reduced to 3.125 BTC per block mined.
Bull Run
"The term ‘Bull Run’ in cryptocurrencies describes a period when cryptocurrency prices rise significantly and steadily, driving those who participate in them into a frenzy. After all, we are talking about cryptocurrency prices starting a clear uptrend."
After each Halving, a cycle called “Bull Run” or simply the bull season, or cryptocurrency bull market, is originated, a cycle that has been repeated months after or the following year of the Halving.
That is why taking into account all this that we exposed above, it is expected that 2025 will be a great year for Bitcoin and cryptocurrencies, more so when at the end of 2024 Bitcoin reached a new all-time high last December 108,319.87 US$.
Bitcoin projections
What to expect from Bitcoin in the next few years?.... It's complete madness the Bitcoin predictions for the following years, and I'm going to share what is expected to be the closing of each year.
It is expected that by December 2025 the price of Bitcoin will exceed $200,000, reaching even $250,000 in December 2026, by the end of 2027, beginning of 2028 the price is expected to reach $340,000 approximately, with a forecast that in 2030 it will exceed $500,000.
Ay ay ay, I do not know what to expect, but the truth is that Bitcoin has not stopped rising systematically since its launch, and although we can not predict the future, or what will happen in the coming years, but just in case you have to invest in Bitcoin, logically making the disclaimer, that this publication is not interpreted as an investment advice, but what a nice birthday Bitcoin is having.
Happy Birthday Bitcoin!
Comments