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Once again the Bitcoin soars!
It is trending crazy. It’s all everyone is talking about.
Bitcoin is being hailed as the world’s no.1 cryptocurrency at the moment. It took less than a week and ‘Elon Musk’ (to be fair) to send it skyrocketing by almost 30 percent. It was Musk’s announcement a couple of weeks back saying Tesla used $US1.5 billion of its spare cash to buy bitcoins that has sparked this surge in price, sending it soaring from $US38,461 to the record $US57,000+ price at which it peaks at present. (data by Cointelegraph). It’s WILD, people.
Fun Fact: Musk – who is a huge supporter – has even added #bitcoin to his Twitter bio, helping nudge the cryptocurrency’s price up by as much as 20%.
Every time bitcoin is pronounced dead, it rises back again from the ashes. And forces like the bullish investors, favorable legislation, and the tweets of some renowned tech gods and are nudging this trajectory skywards.
What to expect this time around? Let’s take a look at some insightful stats and facts on Bitcoin.
Latest Bitcoin Stats and Facts for 2021 and Ahead
Here are some latest bitcoin stats and facts for 2021 to offer you an insight into the present bitcoin market.
1. Bitcoin was developed in 2009 by Satoshi Nakamoto. (source: Statista)
The idea behind this was that a centralized government or organization should not be able to regulate money explicitly.
2. Believe it not, there are approximately more than 1m active bitcoin miners at present. (Source: thehustle)
And they are all vying for the next block to be added to the chain. The marketplace at present is getting hotter!
3. The reward was 50 bitcoins when the mining process first began (BTC). (Source: thehustle)
However, the reward is sliced in half each time 210k new blocks are added to the blockchain, or essentially every 4 years, as reported by the coin’s maker.
4. As of February 2021, miners earn 6.25 bitcoins for each fresh block they mine or $294k given the current market value. (Source: thehustle)
These miners get to keep the transaction fees of around $20/trade, from the exchanges in that block.
5. Tesla – the infamous car company – went as far as saying ‘it may soon accept the digital currency as payment for its cars’. (Source: CNN)
And Tesla (TSLA), the stock market’s most successful auto manufacturer said it keeps some of its capital in bitcoin rather than conventional currency.
6. As of February 2021, there are about 67 million Bitcoin wallets with 63 million wallet users marked at the end of December 2020 only. (Source: Statista)
A little about these wallets, they are imperative to purchasing Bitcoin. Keep reading our latest bitcoin stats and facts for more insightful info.
7. In order to effectively add a new block to the blockchain and earn its reward, a bitcoin miner has to address a computational problem (Source: thehustle)
Let’s not go into pocket jacks of this problem. In layman’s terms, a miner essentially has to deploy a computer -to ram through trillions of hexadecimal number combinations before an appropriate 64-character code is spat out. The blockchain is kept secure by this code. We have a whole article on this. Read Here!
8. About 66 percent of the world’s bitcoin mining currently occurs in China, where inexpensive hardware makes massive operations more economically viable. (Source: thehustle)
One factory alone mines 750 bitcoins a month in Dalian, the bitcoin mining capital of China, or $35.6m in value at the existing exchange rate.
9. By 2030, Bitcoin’s value could be estimated between $1 million – $10 million. (Source: cryptopolitan)
This is to say that bitcoin – within the next decade – could hit the billion-dollar milestone at its price peak.
10. Mastercard too made an announcement saying it will support “bitcoin” directly on its network sometime later this year. (Source: cnn)
Bitcoin has reached a whole new milestone this year!
11. Square (SQ) and PayPal (PYPL) also have recently started allowing customers to trade bitcoin. (Source: cnn)
While it’s a great initiative, Mastercard will remain bitcoin’s most mainstream major platform yet.
12. Here’s a shocking fact: The Bitcoin Network is more powerful than 500 supercomputers combined. (Source: buyingbitcoinworldwide)
But do you know just how powerful a single supercomputer is? One supercomputer can process 200 million billion calculations in ONE second. Let that sink in.
13. Did you know that bitcoin transactions are measured in Satoshi/byte. That means 1 Satoshi is equal to 0.00000001 Bitcoin. (Source: wiki)
The satoshi is presently the tiniest unit of the bitcoin currency tracked on the blockchain. It is one hundred millionth of one bitcoin (0.00000001 BTC) (0.00000001 BTC).
14. A graph shared by The Moon, a YouTube Channel by Carl Eric Martin on cryptocurrency, reveals that Bitcoin is projected to be at $318,438 in October 2021. (Source: tradingeducation)
Popular major banking institutions and global advisors for a number of investment companies, JP Morgan opines that the value of Bitcoin will climax at $146 000 even before the end of 2021.
15. Did you know that May 22 is celebrated as Bitcoin Pizza Day? (Source: coinsutra)
For a very long tenure, bitcoin was worthless and it wasn’t until May 22nd that someone purchased something from Bitcoins and it was Pizzas.
16. Dan Morehead – Founder and CEO of Pantera Capital – initiated the first cryptocurrency fund in the United States, at that time bitcoin was priced around $65. (Source: investopedia)
His company was one of the first to invest in bitcoin. Amazing how the tables have turned, no?
17. At present, Bitcoin is well over $225 billion worth more than Tesla (TSLA)! (Source: cnn)
Another fun fact: Tesla is the company behind the most recent price rise in the bitcoin cryptocurrency. It keeps getting better.
18. Just four US companies at present are currently worth more than Bitcoin: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), and Alphabet (the owner of Google (GOOGL)). (Source: cnn)
Of course, weighing Bitcoin vs the big industry giants like Apple or Alphabet is not a fair comparison.
We hope our latest bitcoin stats and facts for 2021 helped provide you with an insight into the market. If you are looking to learn more about blockchain and cryptocurrencies (including but not limited to bitcoin), please visit here.
‘To Invest or Not to Invest in Bitcoin’
Still, hung up on that question? Well, to answer that, there have and will always be differing Bitcoin price predictions. Bitcoin experts and pundits alike have never been able to attain common ground on what the asset could be worth over the next second or two.
However, one telling factor is that bitcoin’s price would continue to go up in the coming years. Therefore, the investors thinking to make a long-term investment in the cryptocurrency world stand somewhat of a chance in the leading coin of the industry. The best part is you don’t even need a king’s ransom to invest in bitcoin. Good luck!
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