Happy Birthday to you, Bitcoin! 2021 Is your year

This is Bitcoin’s 12th anniversary today. And Bitcoin has broken through $ 34,000 per coin. On some days, it rises thousands per trading session.

“The move is very bullish. This year Bitcoin may be touching up to six numbers. This is a birthday present for Bitcoin holders,” said Gaurav Dahake, CEO of BitBNS based in India.

The first bitcoin was mined on January 3, 2009.

This year is already shaping up to be the Year of Bitcoin (BTC). Sorry haters. If I could turn that old gif of a green parrot into pixel shapes bending its head as if it would loosen you, I would include that here.

Everyone who has held on to this thing since it fell below $ 10,000, even if it drops to $ 10,000 again, knows that there will be buyers. We have more believers now. You just have to be patient. Peter Schiff is the only decent investor who hates Bitcoin these days.

The following article is about Schiff’s old-fashioned BTC blow but a greeting from Forbes contributor Billy Brambrough:

MORE FROM FORBES[Updated] This is why Peter Schiff’s ‘Ridiculous’ Bitcoin claim can’t really be solved!Ro Billy Bambrough

“BTC is becoming more conventional,” says James Reilly, the developer behind Ether-1 in Santa Rosa, Calif. The two-year-old company runs a decentralized hosting and storage platform. “This is not a repeat of 2017 when many people were hearing about Bitcoin for the first time,” he says of the year that Bitcoin broke $ 20,000. It has fallen below $ 8,000 for the last two and a half years before breaking through $ 30,000 last week. “Only more people know what Bitcoin is or, at least, they have a vague idea of ​​what it is. It is a household name, regardless of whether everyone believes in its value. ”

Bitcoin and other cryptocurrencies were recently added to PayPal’s

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a platform will only further consolidate the use of a core cryptocurrency not only for purchase, but as a source of value.

“I can’t imagine where it’s going,” says Vladimir Signorelli, founder of Bretton Woods Research in Long Valley, New Jersey. He recently bought into the Grayscale Bitcoin Trust (GBTC) exchange-traded fund. It doesn’t have a Bitcoin wallet at places like Coinbase, the traditional way to buy and sell Bitcoin. “I am a little concerned that these valuations are driven by pandemic. But every major bank in the world is announcing that they are going to print as much money as needed to the valuable source of value, Bitcoin can rise against all major currencies because there is a finite amount of Bitcoin in the world, ”he said.

More financial institutions are accepting crypto as payment or as real investment options. Fidelity is going to create maintenance accounts for Bitcoin.

Last year saw a positive evolution in BTC conversion, said Sheldon Xia, founder and CEO of Bitmart Exchange, a digital asset trading platform with approximately two million users worldwide. “In 2021, we will see an expansion of this mainstream identity, which will ensure a long-term bullish move,” he says.

In addition to Fidelity and PayPal getting into the act, Square invested $ 50 million in bitcoin, and the news from Michael Saylor that Microstrategy was worth more than $ 1 billion

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inward capital into Bitcoin has been an end-of-year tail for BTC, says Sam Farao, managing manager at Forgeblock Capital in Oslo. “Fun fact: Ever since the Norwegian Oil Fund invested in bitcoin-owned companies, it means that bitcoin owns all of Norway,” says Farao. “I hope we see more important banks in the US or Europe that will enable us to buy or hold cryptocurrency assets for their clients.”

In 2019, Goldman Sachs

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and others said Bitcoin was like digital gold. It was an investor hedge against hyperinflation. Looking at the trillions spent on cash hedges across the globe, one can imagine how much BTC will get if Goldman Sachs and others are right – and BTC is going to be a new kind of cash hedge.

If you think of bitcoin as a hedge of money, then the rise of the market makes perfect sense. Global GDP is around $ 80 to $ 82 trillion and if 2.5% of world GDP is involved in a cash hedge, because of an argument, then Bitcoin could easily take a share of that space because it proves itself to be a source of value that investors can maintain over a year or two. This is not long.

Unlike fiat currencies, which are printed at will, only about 18.5 million Bitcoins are mined. If there are 19 million BTC this year and you share that with $ 2 trillion or 2.5% of world GDP, you can conclude that Bitcoin is going to $ 100,000 at some point, Signorelli estimates .

When? That’s anyone’s beat. Bitcoin traded at just over $ 3,800 on March 12th. That wasn’t so long ago.

“I am confident that in the next five years Bitcoin could go far beyond $ 50,000,” says Sergei Khitrov, Head of Blockchain Life based in Saint Petersburg. He sees four main reasons for the call: big money coming into the market, acceptance of cryptocurrencies, tokens of big companies (Amazon

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coin?), and the development of national cryptocurrencies as we see them being test-led in China.

No one really knows for sure, if Bitcoin will go to $ 50,000 this year or back to $ 5,000. However, if one were to measure, the scale is removed from the likes of Peter Schiff – a complete crypto bear – and a weight for the crypto bulls.

That has a lot to do with the volatile nature of finance, new blockchain systems, and fintech in general. Not to mention the loss of frontier currencies but some take zero to negative interest; total money loser.

“Technology will be more financially advanced changes,” Xia said. “I really think Wall Street will be replaced by decentralized funding one day. We are still in the early stages of the token economy. Soon, as more use issues of blockchain technology come to life with its potential to create more transparency and fairness while saving businesses time and money, more people will buy into it, ” he says. “If you have Bitcoin in 2021, the best recommendation I can give you is to stick to it. ”