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Bitcoin turns 9 and already, it has evolved into a world currency

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Satoshi Nakamoto, the anonymous creator of bitcoin, published the bitcoin white paper there 9 years ago, in October 31. Since then, on the basis of all imaginable indicators, bitcoin has become a major world currency, a store of value and a safe haven asset.

The Bitcoin network was officially launched in 2009, when Nakamoto extracted the first bitcoin block. But the Bitcoin white paper was published in October 2008, a few months after the acquisition of by Nakamoto.

In the space of 9 years, Bitcoin has become an important store of value thanks to its rapid adoption and growth rate in large regions such as Japan, the United States, Korea South and Hong Kong. Bitcoin trading volume has exceeded $ 2 billion and has sometimes peaked at $ 4 billion, surpassing the volume of Apple's transactions, the world's most liquid stock.

In several countries, such as Japan and the Philippines, bitcoin has been recognized as a legitimate system for the payment of remittances, money and money. Earlier this year, the Japanese government also recognized the exchange of cryptocurrency and bitcoins as legitimate financial service providers. Therefore, some of the largest companies in their respective sectors, such as the largest airline in Japan, Peach, the leading operator of cheap hotel chains, Capsule, and the leading Bic Camera electronics retailer have integrated bitcoin as a payment method.

How has Bitcoin evolved into a world currency over a short period?

As a technology, Bitcoin is only 9 years old. Earlier this month, CCN published an article titled "Technology Sector Called Amazon a Bubble Since 1997, Bitcoin Sees the Same Trend", which has extensively explored the disdainful attitude of the tech sector towards Amazon and its economic model. In fact, even until 2016, many analysts have described Amazon as a bubble and an unsustainable activity.

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However, Amazon has grown to $ 533 billion in 20 years since its launch in 1997, with high-performance cloud computing services, an e-commerce market, and retail services.

Bitcoin experienced a similar trend. But, it is a technology and a financial network that is much younger than Amazon and therefore, at an earlier stage of development. Still, the bitcoin adoption rate has exceeded the expectations of most analysts and bitcoin investors, mainly because of support from governments like Japan.

Over the next few months, by the end of 2017, the number of institutional and retail investors in Bitcoin is expected to increase, given the launch of bitcoin futures by CME. Group, the largest stock exchange in the world. the possibility of bitcoin ETFs being approved by the SEC.

Bitcoin is better than gold

At present, the bitcoin market is at an early stage due to lack of institutional investors in the market. Investors who invest tens of billions of dollars in a single asset can not turn to a $ 100 billion market and invest large amounts of money because of liquidity problems. In the near future, such problems could be solved through futures and options.

Bitcoin is already 9 years old and is already recognized as a leading digital currency, an asset safe haven and digital gold. Several experts, including billionaire investor Peter Thiel and Apple's co-founder, Steve Wozniak, have stated that Bitcoin has become a better stock of value than gold by almost every measure including transportability, ownership and liquidity.

"There is some finite amount of bitcoin that can ever exist.The gold is extracted and extracted and extracted.There may be a limited amount of bitcoin. gold in the world, but Bitcoin is even more mathematical and regulated and no one can change mathematics ", says Wozniak.

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