Editorial
1 Trillion US Dollar Market Cap of Bitcoin
The world’s most favourite crypto currency Bitcoin hit the market cap of 1 Trillion US Dollars when it crossed $54000/- mark two days ago. It is one of the fantastic milestones for the crypto in a short of span of 12 years. Ever since its inception in 2009, the Bitcoin was attacked by several eminent investors like Warren Buffet and praised by high-profile technocrats like Bill Gates and Eric Schmidt. More than the Bitcoin, the technology behind Bitcoin – i.e. Blockchain attained worldwide acceptance and that paved the way for the Crypto boom.
As we know, without the Bitcoin, there won’t be Ethereum, Cardano, or Polkadot kind of life-changing projects possible. Though largely driven by the manipulative speculators, there will be correction ahead for the Crypto. Still, the idea of Bitcoin is laudable for its tamper-proof distributor ledger tech.
Most probably, Bitcoin will soon replace the US Dollar as the World’s most favourite currency. Alongside Gold, it certainly qualifies to become a bankable asset class. That is the reason, so many high net worth individuals; corporations like Tesla have been pumping billions of dollars to grab this ‘digital gold.’ Even some of the ‘big banks’ are seriously considering to buy this digital currency. When we look at its short history, why it is so famous and what made it is so unique. There may be fluctuations and ups and down, but the Bitcoin is here to stay. Firstly, it is not driven by any banks, governments, corporations or group of tech-savvy people. Besides, it’s available on 24x7 to everyone. To buy and sell there is no need to have a bank account. These kind of egalitarian ideas has increased its utilitarian aspects and emerged as the most sought after digital currency of the world.
By
Editor-in-Chief