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Bitcoin Facts – Learn the most interesting facts about the most popular cryptocurrency on the planet

Some Bitcoin facts help us understand the state of cryptocurrency adoption worldwide and build expectations about what awaits us in the coming years.

Created in 2009 by Satoshi Nakamoto shortly after the economic crisis of 2008, Bitcoin emerged to revolutionize one of the world’s most popular technologies: money.

What is so innovative about Bitcoin?

Using a technology called blockchain, the cryptocurrency has enabled a simple and quick way to make money transfers, without the need of a third party involved, such as a bank or a company.

It may seem quite simple, but even for today that is revolutionary. With Bitcoin, you no longer need to have a bank account to make transfers or store any amounts of money. All you need is a virtual wallet on your mobile phone, computer or even on the Internet.

This reduces the price of transactions for users, who are not obliged to bear the costs and inconvenience of having an account in a banking institution. Moreover, as there is no need to register, there is much more anonymity.

In addition, we are talking about a type of money independent of a central bank, since its operation is based entirely on the code of cryptography. Therefore, cryptocurrency is immune to the ups and downs of the monetary policy of a specific country.

Although in its eleven years of existence Bitcoin can already be considered a success, the currency still has a long way to go in the coming years. Let’s see some Bitcoin facts that reveal its growth and its potential for the future.

Bitcoin Facts

1.     Since its launching, Bitcoin has increased by around 2.618.006,67%.          

Those who had the vision (or luck) to mine or buy Bitcoins in its first days of existence ended up making the best investment of all time.

This categorical judgement reflects the rapid expansion of Bitcoin among users around the world. If at the beginning the audience of the cryptocurrency was limited to programmers and crypto enthusiasts, now Bitcoin can be bought or sold even at ATMs.

2.     The highest price Bitcoin ever reached was US$ 19,783.06

The all-time high was on December 17, 2017, when the cryptocurrency exceeded the value of $ 19,000 per unit.

That year, the cryptocurrency made a historic flight. In January 2017, a unit cost less than 1000 dollars.

Since then, the currency has never been this valuable again. Currently, it is priced between $ 7,000 and $ 8,000. On the other hand, despite the bursting of the bubble, the price of the coin has not fallen below $ 3,400.

3.     Bitcoin represents about 68%  of the crypto market value

There are literally thousands of cryptocurrencies in the market. However, Bitcoin is still the most popular of them all. With a market capitalization value of around $ 142,707,884,674 (according to CoinMarketCap), the cryptocurrency queen possesses almost 70% of the crypto market.

By way of comparison, the market capitalization value of Ethereum, which is the second largest cryptocurrency, is $ 14,937,702,222. Almost ten times less!

4.     Almost half of Bitcoin users are between 25 and 34 years old

According to CoinDance, approximately 46.32% of Bitcoiners are between 24 and 36 years old.

In second place is the range of those between 35 and 44, with 26.76%. Third, those between 18 and 23 years old, with 10.29%.

These data are interesting because they reveal the largest adoption of Bitcoin among the economically active population. This is extremely powerful, since not only the highest salaries are concentrated in this age group, but also the influence in the world economy.

5.     The vast majority of Bitcoin users are men

In terms of gender, Bitcoiners are mostly men. According to CoinDance, approximately 87% of Google searches related to Bitcoin are performed by men, while women account for 13%.

However, this scenario may change in the coming years. According to Yahoo Finance, a survey conducted in the United States showed that about 1/3 of the country’s population is interested in investing in Bitcoin. Out of them, about 43% are female. In this sense, it is possible to affirm that there is a great potential for the adoption of Bitcoin among women.

6.     23% of all Bitcoins are lost forever

Around 3.79 million of Bitcoins in circulation has been lost forever. This is equivalent to approximately 23% of the total available BTCs.

In updated figures, this means around 29 billion dollars!

Most of these Bitcoins disappeared along with virtual wallets. The misuse of technology and  the ignorance about Bitcoin applications in its early years led many people to losing their passwords, forgetting their cryptocurrencies and so on.

7.     The founder of Bitcoin owns about 1 million of coins

The mysterious Satoshi Nakamoto, founder of Bitcoin whose real identity is still unknown, has a portfolio of about 1 million BTCs, which is equivalent to approximately 7.8 billion dollars.

However, it is widely believed that Nakamoto will not circulate his cryptocurrencies. After all, if he did, the market would be flooded with Bitcoins, which would lead to a drastic price drop.

8.     The maximum of Bitcoins that will ever exist is 21 million

Each block of transactions validated by the Bitcoin network generates several new Bitcoin units. This process is known as mining, and every BTC in circulation today was extracted this way one day.

In addition, for every 210,000 mined blocks, the value per validated block is reduced by half. This process is known as halvening. According to the forecast, by 2140, all existing Bitcoins will have been mined.

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