In April 2010, the price of one Bitcoin was 0.003 dollars, while the price of one Bitcoin today is more than 7000 dollars. If you had invested $100 seven years ago, today you would have more than 200 million dollars.
Just as Wall Street started paying more attention to Bitcoin, new rivals emerged in the world of cryptocurrencies, threatening to push the current leader aside. One of them is Ethereum. Today, Ethereum represents 32% of the total value of all cryptocurrencies (Bitcoin represents 38%). There is also Litecoin whose total value has exceeded 1 billion dollars for the first time.
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Meanwhile, many countries legalized Bitcoin as means of payment which had a strong positive effect on its price. In Japan, many retail outlets allowed shopping with Bitcoin, making Japan the biggest Bitcoin market in the world. Investors expect that many other countries will soon allow this form of trade.
One of the reasons for the rise in the price of Bitcoin this year is that it can’t be manipulated by state governments. Bitcoin uses a public online record known as a “block chain”. The total number of Bitcoins are produced through a process called “mining” that involves solving series of complex mathematical problems.
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