What Is Bitcoin?
Bitcoin is the most popular cryptocurrency, dominating the crypto space with its blockchain technology and its scarcity. Bitcoin was created in 2009 by the pseudonym Satoshi Nakamoto, who might be an individual or a group of people. It is the digital currency, which aims to exclude intervention of any third parties, while you are transacting.
The Chicago Board Options Exchange also halted the listing of Bitcoin Futures. Bitcoin has touched the $4000 mark for the first time in over a month. Even Tim Draper, a famous Bitcoin enthusiast and billionaire stated that in 2 years, Bitcoin would be everywhere and fiat currencies would become archaic. He even said by 2021, everyone would buy their coffee by making their payments in Bitcoins.
It is going to start on a good note as the digital assets platform, Bakkt is going to get introduced in the later part of the year. Bakkt has already raised $182.5 million and is supported by 12 partners including Pantera Capital, Boston Consulting Group, Galaxy Digital and many more. The owners of Galaxy Digital, the Winklevoss brothers recently stated in the Aske Me Anything(AMA) session that Bitcoin is the most likely winner in the long term. Very recently, some analysts from JP Morgan has predicted that Bitcoin might fall as low as $1,260 and banking or financial institutions might not benefit from blockchain for 3 to 5 years as the true value of cryptos is not proved according to them.
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