The cryptocurrency market has grown exponentially in 2021 to Two trillion US Dollars as it increasingly attracts interest from big names on Wall Street.
This was disclosed in the specialist site Coinmarketcap, which listed more than Nine Thousand different cryptocurrencies.
Despite bitcoin’s volatility and limitations as a means of payment, it is being seen as a store of value to rival and even one day potentially surpass gold as a super investment in the face of high inflation.
Also, Banks and payment services such as Paypal allow transactions in certain digital currencies and Almost Eighteen point seven Million bitcoins have been created since the first block of 50 in early 2009.
After bitcoin’s value crashed in 2018 it however rebounded and has smashed records since late last year rising from around Twelve Thousand U.S Dollars in October to over Sixty-Two Thousand US Dollars on Tuesday.
Numerous cryptocurrencies seek to compete with, or complement, bitcoin.
These include Ethereum closely competing with bitcoin, which also hits an all-time high above Two Thousand US Dollars.