The Bitcoin Bonanza, the Cryptocurrency Marks a Record High
$100’s worth of Bitcoins 7 years ago are now valued at nearly $80-M
Bitcoin has more than 2X’d this year compared against the USD, reaching a record high of $2,190.45/each Monday, the 7-year anni of Bitcoin Pizza Day.
The Day commemorates the time a programmer named Laszlo Hanyecz spent 10,000 Bitcoin on 2 pizzas.
Bitcoin mining is the process of solving a complex mathematical equation that awards the miner with a Bitcoin.
If you bought $100 of Bitcoin at the $0.003 price on 22 May 2010 and held it, you would now be sitting on around $72.9-M, according to the math calculation, that is millions of %’s in gains.
The Bitcoin Rally is being driven by its acceptance for payment in Japan as a legal currency.
About 40% of Bitcoin Forex (foreign-exchange) transactions involve converting JPY into Bitcoin. Bitcoin is also seen as a safe-haven asset like Gold in troubled and uncertain times.