Bitcoin is one of the most famous coins in the market today with an ever increasing number of patrons daily due to the popularity of the cryptocurrency. Here’s some of the information about your favorite coin.
? The Logo of Bitcoin
The Bitcoin logo was released 11 years ago on the Bitcoin forum after the Bitcoin Network.
It is now one of the most popular symbols in the world as the patrons for the asset continue to emerge in the market.
But before the famous orange logo, Satoshi Nakamoto’s first design of the logo was the engraving of the initials BC on a gold coin.
After a year, the logo resemble a Thai Baht currency, which faced a lot of criticisms.
The community used the logo until the moniker Bitboy announced in November 2010 to the community to view his $BTC design logos.
Many people find the symbol cool with the B symbol, which is Satoshi’s design. However, it was turned into white against a bright orange circle.
The orange color represents its individuality as a coin and offers aesthetic and practical value.
? Bitcoin Market Value
JPMorgan, a leading bank in the US, stated that the value of $BTC could still reach $146,000. Thus, surpassing the $100,000 consensus for the 2022 mark by the end of the year.
However, holders believes the value can go down anytime to $35,000.
According to the Bank’s trusted analyst, $BTC value can only breach the $100,000 mark if the volatility allows investors to add it to their portfolio and stay with the asset.
? Bitcoin Updates
Many US Politicians are already becoming pro-bitcoin.
They have shared some interesting sentiments and are planning to receive salaries in the form of Bitcoins.
However, this is gonna be a problem with the demand of the coin. But, $BTC seems to remain stable despite that.
It started when the NFL legend, Aaron Rodgers officially announced that he would receive a portion of his $33,500,000 salary in the form of bitcoin. And, he will be having a $1,000,000 $BTC giveaway on his official Twitter account.
Binance also suspended withdrawals all around the world as the system shows huge backlogs. This was due to the pains of keeping up with the demand.
Furthermore, Singapore’s Managing Director of the Monetary Authority (MAS), Ravi Menon, said that the country is subjected to “being left out” if they do not adopt $BTC.
?Mayors and Politicians Advocating BTC
El Salvador announced the construction of 20 schools with the funds. These are coming from the 1,120 BTC stack that is systematically bought by the country.
Miami Mayor, Francis Suarez is planning to receive his next paycheck fully in bitcoin. Missouri Mayor, Jayson Stewart, stated that “the only financial thing that makes sense.”
Australia’s Commonwealth Bank, announced the bitcoin services availability in their app. This will allow 6.5 million clients to buy, sell and hold $BTC starting in 2022 with no official date yet.
Eric Adams, New York City’s new mayor, promises to make NYC the “world centre” for bitcoin. It will receive the first three months’ salaries in bitcoin.
There are still many updates regarding the politicians advocating for Bitcoin.
Mayors and Politicians in general are very important in advocating for Bitcoin as they have constituents that will follow to further adopt the Bitcoin system just like El Salvador that has legalized and adopted Bitcoin.
This, as believed by experts, will help the Bitcoin system to gain upward momentum. This will make it possible to breach the $100,000 mark by the end of the year.