Bitcoin: This is how it’s trading this Friday

The most popular cryptocurrency on the market, Bitcoin, is being promoted by entrepreneurs like Elon Musk and governments like El Salvador, where its use is legal.  (Jovani Perez)
The most popular cryptocurrency on the market, Bitcoin, is being promoted by entrepreneurs like Elon Musk and governments like El Salvador, where its use is legal. (Jovani Perez)

Bitcoin, the first virtual currency released to the marketCreated by Satoshi Nakamoto (pseudonym) in 2008 after the financial crisis that hit the world; This digital currency promoted a liberal ideal and sought to rein in traditional monetary and financial institutions.

Known in the market world by the acronym BTC, bitcoin uses cryptography to ensure that its management is decentralizedthat is, it cannot be regulated by any banking institution or body, which in turn makes cryptocurrencies volatile.

It was in 2008. November 1 Satoshi Nakamoto On the page, he sent a message to the cryptocurrency mailing list bitcoin P2P e-cash paper, in which he hinted at a new type of electronic money system that was not based on third-party relationships, but was direct.

Not long after in 2009 January 3 bitcoin finally went live with the first batch of 50 coins known as the “Genesis Block” which was mined by Satoshi Nakamoto himself. According to records, there are currently 19.16 million in circulation. bitcoin, even though the money supply continues to increase.

In 2013, this initially worthless cryptocurrency crossed the $1,000 mark and began to attract the attention of financial institutions. months later faced its greatest crisis hacking of the MtGox platform, directed by Mark Karpelès, where up to 80% of the units in circulation were changed, what caused a fall in its value.

in 2017 at the end of the new rally, the value reached 19.51 dollars. Today, its price exceeded $68789.63also influenced by comments from relevant personalities such as Elon Muskwhich made it the most important cryptocurrency of our time.

BTC jumps above $22,000

Despite the progress and volume that Bitcoin and other large digital assets such as Ethereum have had, organizations such as World Bank, International Monetary Fund (IMF) and Inter-American Development Bank (IDB) they are still skeptical about the “benefits” of this type of cryptocurrency.

In contrast, there are others that have shown a strong interest in bitcoin, such as the government El Salvador, which in 2021 June 9 became the first country to adopt this cryptocurrency as legal tenderBut not only that, but President Nayib Bukele announced his intention to create the first Bitcoin City in Konchagwa.

Similarly, Prosperous HondurasSpecial Autonomous Zone of Central America opened in 2020. on the paradise tourist island of Roatan, has chosen to use bitcoin as a legal tender virtual currency, despite the fact that banking institutions do not guarantee its operation. There have also been political figures in Mexico and Portugal who have proposed legalizing it digital uniform.

in 2022 May 5 The Gucci brand has joined the list of stores betting on using this currency to buy luxury products. Payments using this digital asset are available at branches in New York, Atlanta, Miami, Los Angeles and Las Vegas in the United States.

Hour: 13:00 (UTC time)

Price : 18900.65 dollars

Changes in the last 24 hours: -1.73%

Change in the last hour: -0.63%

Popularity by Capitalization: #1

Bitcoin keys.  (Illustration by Anayeli Tapia)
Bitcoin keys. (Illustration by Anayeli Tapia)

cryptocurrencies they cease to be foreign elements and began to enter the language of everyday life, attracting the interest of those who are concerned with finance or even to that level. legalized in some regions of the world.

MicroStrategy now has 130,000 bitcoins

As its name suggests, cryptocurrencies they use cryptographic or encryption techniques carry out transactions in a decentralized system and, in most cases, through blockchains (blockchain), which moves it away from traditional models where banks act as intermediaries.

His innovations have sparked the interest of many people to invest in coins digital as its value has grown significantly in recent years bitcoin, ethereum and dogecoin the most popular and with the largest capitalization in the market.

Each of these units is created through the process is called “mining” and users can purchase them through different crypto brokers or exchanges and then store them in “crypto wallets” or perform various operations with them using unique keys.

Although it was 2009 when bitcoin hit the market as the world’s first cryptocurrencythe truth is that these are still experiencing a financial boom, so their use should increase in the near future.

Cryptocurrencies have various elements that make them unique: not controlled by any authority; does not require intermediaries in transactions; and almost always use accounting blocks (blockchain) to illegally create new cryptocurrencies or not to modify already performed transactions.

But without regulatory bodies like a central bank or similar entities they are indicated as unreliable, unstableencourages fraud, lacks a legal framework that supports its users, allows for illegal activities, among others.

Although it may be a paradox, cryptocurrencies in turn guarantee their miners security from the point of view of the network they reside in (framework), and that means code control; hacking this protection is possible, but not so easy to achieve because whoever tries it would have to have even more computing power than the computer itself. Google.

"Bitcoin is trying to reverse its trend," said Bitpanda's Spain Country Manager

Whoever invests in this type of digital asset must be very clear that this form brings with it a high risk to capitalWell, just as it can increase, so can an unexpected crash and end up saving consumers.

To store them, users must have a digital monedero or wallet, which is actually a software through which to store, send and perform cryptocurrency transactions. In reality, this type of wallet stores only those keys that represent a person’s ownership and right to a certain cryptocurrency, so it is these codes that must be truly protected.



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