Bitcoin
Did you know that between May and July 2024, Bitcoin experienced a significant fluctuation? In May, Bitcoin started the month at around $61,827 and climbed to close at approximately $68,005, reflecting a gain of 9.08%. However, it saw a decline in early June before rising again, with the average price in July stabilizing around $54,578 (Exchange Rates) (Switchere).
Bitcoin is a decentralized digital currency created in 2009 by an anonymous entity using the pseudonym Satoshi Nakamoto. It operates on blockchain technology, enabling secure, transparent peer-to-peer transactions without intermediaries. Limited supply (21M coins) adds to its value.
Just as you cannot stop the changing of the tide, an idea whose time has come cannot be stopped. According to Victor Hugo, it is more powerful than all the armies of the world. Crypto, specifically Bitcoin, has entered such a moment in time.
Crypto has entered into a multi-year white swan event. A decade where multiple scenarios will unfold in favor of Cryptocurrency as an alternative or even a place of refuge. In 2022 I predicted the banking collapse of 2023. This is likely to be an ongoing phenomenon. The ever-increasing collapse of global fiat currencies is another catalyst for Crypto as an alternative, and in many cases, the only alternative.
Today Crypto Market Update 📈
The global crypto market cap has surged to $2.46T—an impressive 8.63% increase in the last 24 hours! Total market volume hit $132.08B, up 58.66%.
- DeFi Volume: $5.05B (3.82% of total)
- Stablecoins Volume: $121.53B (92.01% of total)
- Bitcoin Dominance: 59.69% (+0.32%)
The market is buzzing with growth! 🚀
The long and the short is that Bitcoin is now an instrument of wealth preservation and WEB3 is the new realm of wealth creation. A few thousand dollars invested in Bitcoin has limited, yet attractive yields. However, the same amount of capital effectively deployed in WEB3 has a greater chance of providing a more substantial return.
