The Bitcoin phenomenon has undeniably made an impression in the investing, technology and political worlds this year, having enjoyed a meteoric rise from around $12 per coin in January to over $1,200 just one month ago. Now with tentative approval from the Federal Reserve, the U.S. Senate, Fidelity Investments, wealthy investors, and even the founder of Paypal, its future seems bright as the year draws to a close. Even naysayers are now lamenting that they should have “invested earlier.”
Bitcoin’s explosion is something even many of its fiercest advocates didn’t forsee. The famous Winklevoss twins are now claiming Bitcoin will expand to a $400 billion dollar market. By then, the famously “unbacked” coins could be worth tens or hundreds of thousands of dollars.
If the whole thing moved to fast for you to keep track of, check out this great breakdown of the evolution of Bitcoin from Visual Capitalist. From its genesis at the hands of the mysterious Satoshi Nakomoto, to its use in the notorious Silk Road marketplace and explosion into the media spotlight, its all here.
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Ed. Note: The future of Bitcoin remains to be seen. But rest assured the Laissez Faire Today email edition will be following it very closely. If you want the most up-to-the-minute research on this and other freethinking topics, you owe it to yourself (and your portfolio) to sign up for the FREE Laissez Faire Today email edition.
Bitcoin may reach $100 today. That brings the total value of the existing Bitcoin stock (10,960,500) to more than $1 billion. It was only a few weeks ago when a local Bitcoin trader in my town wanted a 40% premium for a local cash-to-BTC exchange at the rate of $70 per coin. I balked on […]
Jason M. Farrell is a writer based in Washington D.C. and Baltimore, MD. Before joining Agora Financial in 2012 he was a research fellow at the Center for Competitive Politics, where his work was cited by the New York Post, Albany Times Union and the New York State Senate. He has been published at United Liberty, The Federalist, The Daily Caller and LewRockwell.com among many other blogs and news sites.
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