Bitcoin celebrated its 14th anniversary earlier this week! On January 3, 2009, the anonymous Satoshi Nakamoto launched the code behind the protocol and the genesis block of the chain was created. A user of a Reddit community took the opportunity to amass some interesting statistics. We share them with you.
Although bitcoin is only 14 years old today, 19,252,062 BTC out of a total of 21,000,000 ever created are in circulation. This is almost 92% of the total final supply. It will take another 117 years for all bitcoins to be mined.
Investing in bitcoin was profitable for 3,750 days, or 83% of its existence. At the same time, more than 259,912 BTC were paid out in transaction fees. The latter were especially high during the 2017 bull market. The 14-year average trading time is 7.39 minutes. Finally, we recall that in October 2021 the very young asset exceeded a capitalization of one trillion dollars. This course has since been lost, but purists have no doubt that this is a temporary cyclical pullback.
Given that we have just turned the corner into the new year, there is little doubt that 2022 will have been an utterly sorry year for the markets. That doesn’t mean, however, that everything is gray. Through the collapse of Terra, Celsius, Voyager, 3AC, FTX and BlockFi, what will have shown promise for the industry instead?
Perhaps the most important was the unite of Ethereum, the chain successfully transitioned from its consensus mode proof of work to proof of participation, reducing its energy footprint by more than 99% along the way. This is an incredible technological feat that will enable the next waves of network evolution and upgrades. While this success wasn’t immediately reflected in the price, the 2and broader encryption looks stronger than ever.
Important steps have also been taken towards proper regulation of emerging assets. While such regulation has long been perceived as a danger to the industry, the events of 2022 have instead demonstrated its importance in making the industry more attractive and secure for the future. Regulators have also shown some openness compared to the past, talking about a framework that allows for innovation rather than a complete ban on the asset class.
Finally, note that despite the turmoil of 2022, venture capital firms have never stopped investing in blockchain-related projects. While such investments are certainly no guarantee of success, they nonetheless demonstrate that many wealthy investors still believe in a bright future – or should we rather say a strong return on investment – for developing projects around the world. .
FTX founder Sam Bankman-Fried pleaded not guilty to a string of financial crimes in New York federal court on Tuesday as part of his arraignment. The man faces eight counts, including wire fraud and money laundering. He is also accused of violating the Campaign Finances Act because he allegedly made illicit campaign contributions with tens of millions of dollars’ worth of misappropriated client funds. Recall that Gary Wang, co-founder of FTX, and Caroline Ellison, former CEO of Alameda Research, have pleaded guilty to financial crimes related to FTX and are cooperating with the investigation. The judge presiding over the case has set a deadline for the trial to begin in early October. Until then, SBF is being released on the largest bail in US history, a sum of $250 million.
Who paid such a sum to allow the man to live with his parents in California rather than await his trial behind bars? Presumably, we’ll never know. Indeed, Sam Bankman-Fried’s legal team successfully argued on Tuesday that the names of two signatories supporting the disgraced FTX founder’s $250 million bond should be withheld from the public. In addition, the judge ordered that SBF cannot access or transfer funds from its former company and its subsidiary, Alameda Research. This fine follows last week’s rumors that the latter withdrew $684,000 using a transaction mixer to cover his tracks. On Wednesday, wallets were spotted trading dark tokens for bitcoin and ether in addition to the stablecoin Tether. SBF took to Twitter the same day to deny its involvement. We’ll take it for what it’s worth.
Self-proclaimed “oldest Bitcoin Core developer” Luke Dashjr has revealed that an unknown hacker managed to steal virtually all of his bitcoins. The sum total of stolen bitcoins is unknown, but in a Twitter thread, Dashjr traced one party to a wallet address who received just under 217 bitcoins, or about $3.6 million at current prices. Dashjr attributed the attack on his Bitcoin wallet not to the protocol itself, of course, but to a PGP key (Pretty good privacy) compromise. He later claimed in a Reddit thread that the attacker’s IP came from a ColoCrossing server.
Ark Invest persists and signs, despite the hedge fund erasing all the gains that made it so popular just a few years ago. The Cathie Wood-led company bought 158,116 shares of Coinbase this week. The purchase is worth nearly $5.5 million based on the COIN price of $34.78 at the closing bell. The move comes shortly after shares of the largest U.S. cryptocurrency exchange hit a new all-time low of $31.86 per share on Dec. 28. Though COIN is down more than 86% in 2022 and most of the fund’s other stocks have been hit hard, Wood says he believes he’s using a historic opportunity to buy the fund in waves of promising stocks and points to a five horizon one year investment.
The action of the cryptocurrency markets is slightly bullish at the beginning of the year. While the stock was still very much in line with traditional stock markets, it’s next week’s release of US consumer price index (CPI) that could give BTC stock price a boost, the catalyst it needs . Also, with gold doing quite well, many are hoping that BTC will finally put on its digital gold jacket and increase its correlation with the precious metal.
The ETH daily chart is particularly interesting, with a clear emerging triangle. While the $1000 level looks set to hold, a break-higher diagonal could create short-term bullish momentum.
This article is offered by Fonds Rivemont. The Rivemont Crypto Fund is the first and only actively managed crypto fund in Canada. Eligible for RRSP and TFSA. Accredited investors can find out more here.
Disclaimer: This column does not necessarily reflect the opinion of CryptonewsFR and does not constitute investment advice or trading instructions..
Follow our affiliate links:
- To buy cryptocurrencies in the SEPA zone, in Europe and French citizensvisit Coinhouse
- To buy cryptocurrency in Canada to visit bitbuy
- To protect or store your cryptocurrenciesget a Ledger wallet
- To trade your cryptocurrencies anonymouslyinstall the NordVPN app
To accumulate coins during the game:
- In poker on the CoinPoker gaming platform
- To a global fantasy football on the Sorare platform
Stay informed through our social networks: