5 Big Ways Bitcoin Has Made The News Headlines
Apr 30, 2021
Bitcoin is big news
Whether the markets are bullish or bearish, Bitcoin has become a mainstay of financial news. As the digital asset appears to be here to stay, we thought we’d remind you of 5 ways Bitcoin has hit the headlines over the years.
Bitcoin pizza day
If your birthday falls on 22 May, then you’re welcome to enjoy a double celebration: 22 May is also known as Bitcoin Pizza Day. 22 May marks a significant moment in Bitcoin’s ascent to fame and the future of the financial markets. Back in 2010, many people were asking some crucial questions around the then relatively unknown digital asset. To highlight the cryptoasset’s ability to be used as a payment method, users on the Bitcointalk online forum were discussing how to do this. Laszlo Hanyecz offered to purchase 2 Papa John’s pizzas, paid for with Bitcoin. Another user took up the offer and, indeed, enjoyed a lovely pizza meal on 22 May, with leftovers to savour the next day. While this may seem like a simple transaction in 2021, it was the first time that Bitcoin had been exchanged for a physical item of value, understood and recognised around the world.
As interest in the digital asset began to rise, users of the cryptoasset began trading Bitcoin. Bitcoin exchanges, and cryptocurrency trading exchanges have since become popular platforms for trading. Unfortunately, in 2014, owing to a high-profile hack, the popular exchange, Mt Gox, was forced to cease operations. Having lost 744,000 Bitcoins in the hack, Mt Gox filed for bankruptcy, and the search for the missing Bitcoins continues.
Bitcoin market volatility
Seasoned investment bankers and backers of traditional finance mechanisms often point to Bitcoin’s market volatility as a reason to feel insecure about investing in the digital asset. During the chaotic economic years of 2020 and beyond, however, the view of Bitcoin’s market volatility has changed, with investor sentiment shifting. As Bitcoin is a finite resource - with just 21 million Bitcoin ever to be made - financial headlines are moving more towards highlighting the digital asset as a safe haven for investors. As the Bitcoin price continues to reach All Time Highs (ATHs), many now believe that Bitcoin and cryptocurrency offer investors an opportunity to step away from the traditional gold, silver, and stock investment portfolios.
Bitcoin and All Time Highs
An All Time High (ATH) is the highest price a particular asset, stock, or commodity has ever reached. As interest in Bitcoin has wavered and exploded over the years, the digital asset has begun a journey of reaching All Time Highs on a regular basis. During the first few months of 2021, for example, Bitcoin ascended to several new All Time Highs within a very short space of time.
Bitcoin and institutional investment
When companies invest their capital resources in particular assets, stocks, or commodities, it’s very common for the price of that asset to rise. What made Bitcoin make big news in 2020 and 2021 was how public companies were turning their attention towards the cryptoasset, by investing their resources and buying up Bitcoin. As more and more companies turn to Bitcoin and other cryptocurrencies to secure their investments, we’re certain that Bitcoin will be big news for many years to come.
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