7 Key Milestones of the Coin
It’s been 13 years since Bitcoin came into the market. However, Bitcoin whitepaper came in 2008 by the mystery man Satoshi Nakamoto, and we see Bitcoin getting created on 28th October of the said year. Later on, on 3rd January 2009, we can see the coin completing its 13th birthday. Despite getting banned the previous year, Bitcoin has soared in a big way. We have seen a good amount of trust growing in the recent past. Now, we see Bitcoin becoming a P2P financial system that remains the key supporter in this regard as a hedge against issues like inflation. We now see Bitcoin to be named as digital gold. However, keeping this in mind, we can see many more critics arguing about Bitcoin in a big way and calling it a speculative asset. Well, on this big day, how about checking the seven critical milestones of the coin. For more details, check why investing in bitcoin is advantageous .
Table of Contents
1). BTC reaches 1 T USD in market value
In 2019, we saw Bitcoin hitting the 1 Trillion mark regarding the market value for the maiden time. The said milestone emerged as critical institutional investors and passed through notable financial groups. The milestone was backed by groups like Square, MS, and Tesla, to name a few that helped make the figure whopping. The balance sheets of these companies touched the said figure after they bought Bitcoin.
2). Morgan Stanley giving BTC access to their wealthy clients
Earlier in March, we heard something big that made the news a critical milestone. During this time, we heard Morgan Stanley emerge as one of the critical vital options wherein the US-based bank offered their customers access to BTC funds. After this step, the clients were able to get good exposure to the digital coins called Bitcoin. Furthermore, we saw the investment bank launching access to three different funds, which helped gain ownership of the said coin.
3). El Salvador adopts BTC as its legal tender
It was a big decision that led us to consider the milestone list. The country called El Salvador was seen passing one of the laws that helped it adopt the digital coin as its legal tender. Thus the country was the first one to adopt Bitcoin legally. Their law helps Bitcoin be employed as a payment option for many more things like paying for goods and taxes in the country. Businesses can be seen going with the price and their goods as found in BTC, apart from exchanges that remain subject to capital gains and taxes.
4). The launching of 1st US-based ETF
Earlier in October, we saw ProShares coming up with the future-based BTC ETF that is coming up in the market with its debut as seen in NYSE. It came under the banner of BITO. The coin was seen coming along with the future ETF, which tracked too many contracts. It further helped forecast the upcoming price of the digital coins and assets rather than the spot price as seen on digital coins themselves. Instead, one can find too many more prices that can be seen coming along with the digital currency itself. It has further going to result in the cost of ETF and BTC that may not be required to match.
5). Bitcoin Price reaching its zenith
The moment the value of the whole digital currency market came, it was seen surpassing 3 trillion USD in November. The price of BTC was seen reaching a new record. On 10th November, we saw Bitcoin hitting all-time, reaching the record of 69K USD, claims the reports.
6). 1st BTC upgrade coming to activation in four years
Taproot remains one of the most awaited updates to BTC, and it has come into force this November. The first essential Bitcoin upgrade has come past 2017. We see the company calling upon the identical signatures that have helped BTC come along with the required transactions.
7). 90 percent of the total BTC supply has got the mining
Last month in December, we saw the news coming that out of 21 million BTC, 90 percent of the same has been mined. However, the remaining one would take another 120 years to get mined. Till then, we can see the miners keeping ahead for earning BTCs.