Bitcoin is 11, and It’s Having a Blast!
This week, Bitcoin celebrates its eleventh year since the creation of its genesis block, kickstarting a financial renaissance that has taken the world by storm and created an industry that has shaken the legacy system to its core in the last twelve months, but most importantly in the last decade!
In eleven years, Bitcoin and cryptocurrencies at large have literally outperformed and smashed every other asset class. Bitcoin itself has delivered an eye-watering 9,000,000% return to its investors, leaving any anti-Bitcoin figure speechless!
This is already a massive year for Bitcoin, and we’re barely into January, with rumors of it trading at a $25,000 premium in Iran, record levels of miners competing for newly-created BTC, and the long-awaited 2020 mining reward halving taking place in May of this year.
Proof of Keys Empowering Monetary Independence
The crypto-community also celebrated the second annual event of Proof of Keys. Originally suggested by legendary Bitcoin investor Trace Mayer last year, the event celebrates the financial sovereignty of ALL cryptocurrency holders and encourages everyone to hold their coins privately and off exchanges.
Proof of Keys is critical for the community in many ways, as a community-wide cashout keeps exchanges in check and ensures that their reserves match the balances of their users.
One thing I personally noticed when reporting on cryptocurrencies throughout 2019 was the number of exchanges that became compromised and the amount of money that could have remained in the possession of users if they simply followed the Proof of Keys movement or implemented safer procedures to protect their investments.
With less than three million BTC left to mine, the “roaring twenties” could see digital assets truly cement the Internet of value and trigger a revolution not just in financial sovereignty, but also in how we interact and prosper in our economy.
This post is for educational purposes. All information used is referenced accordingly. This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.