It is the oldest and most well-known cryptocurrency on earth. A lot has happened in the crypto world since its inception in 2009, but one thing has never changed: Bitcoin ranks number one as the most valuable coin in total market value. Crypto broker Anycoin Direct dives into history and explains why the digital currency can be an interesting investment opportunity.
It is the oldest and most well-known cryptocurrency on earth. A lot has happened in the crypto world since its inception in 2009, but one thing has never changed: Bitcoin ranks number one as the most valuable coin in total market value. Crypto broker Anycoin Direct dives into history and explains why the digital currency can be an interesting investment opportunity.
The concept of blockchain was described by Wei Dai back in 1998. A blockchain is a chain of blocks written together in an endless sequence. All the blocks together then form the connected chain, which is constantly expanded with new blocks. The very first block of a blockchain is called the Genesis Block. It was generated on Jan. 3, 2009 - at 18:15:05 GMT, to be precise. The block contained a message: "The Times 03/JAN/2009 Chancellor on brink of second bailout for banks". This immediately contains the clue as to why Bitcoin was developed. After all, it was supposed to be an alternative to the financial system.
Genesis Block
Since the Genesis Block, a new Bitcoin block has been mined every 10 minutes. In April 2011, Bitcoin was worth a dollar for the first time. That same year in June, it stood at $10. After the halving - when miners receive only half as a reward for their proof of work - the price still shoots up every time. For example, in 2013 Bitcoin's price reached $1,000, in 2017 it reached $20,000 and in 2021 it reached as high as around $65,000. In 2021, Bitcoin reached a market capitalization of $1,000 billion for the first time.
The next halving is expected about the end of March 2024, according to the blockchain. Then miners will receive only 3.25 Bitcoin upon successful block creation. While it's obviously a bit of a pipe dream, Anycoin Direct -looking at previous halvings- cautiously predict that the price of Bitcoin will go up after 2024.
Anycoin Direct
Anycoin Direct has been operating since 2013, making it one of the oldest crypto brokers in the Netherlands. Anycoin has an official registration with the DNB. Crypto buying, selling, sending, receiving and storing is all possible with a free Anycoin Direct account. Curious? Check out the website here for more information.
