Recently, Dan Bilzerian went public on social media about his cryptocurrency status. For the avoidance of doubt, Mr. Bilzerian is the son of the Armenian Wall Street authority Paul Bilzerian.
On his twitter handle, Dan Bilzerian simply stated the coins that he owns including Bitcoin, Ethereum, and Monero. All the same, he did not disclose his overall crypto portfolio. While Dan Bilzerian has hit headlines for various different reasons, the disclosure of his crypto status confirms an extensive acceptance of the market.
Other Bulls in the Crypto Market
With many notable personalities joining the crypto market, the nature of the market continues to make news across the world. While many people still regard it as being in the take-off stage, the price of Bitcoin keeps rising towards the 10,000-dollar spot. Similarly, the overall cryptocurrency market cap is currently more than 250 million dollars.
In the recent past, Tom Lee predicted that Bitcoin would remain stronger as a currency while investor Mark Yusto hinted a long-term projection of four hundred thousand dollars. These projections simply point to the fact that the crypto market is steadily growing.
Similarly, the inclusion of Bitcoin in the Chicago Mercantile Exchange can only confirm that the crypto market is on a steady rise – See the following reviews:
- CME’s Future Listing Could Consolidate Bitcoin Currency As An Asset Class
- CME Group Bitcoin Futures – Derivatives Bitcoin Reference Rate?
- Chicago Board Options Exchange CBOE To Launch Bitcoin Futures Trading
- NASDAQ Bitcoin Futures – Wall Street Journal Reports 2018 Launch?
A bit of Bitcoin History
While it’s not clear who invented Bitcoin, reliable sources can reveal that the coin first came into existence as an open-source software in 2009. Bitcoin is an autonomous, decentralized currency that operates independently away from the influence of governments, financial corporations, and banks. As such, no authority can influence Bitcoin transaction, impose fees, or take it away from the owner. Additionally, Bitcoin transactions are quite transparent, with everything distributed on the Blockchain. The following are principal qualities of Bitcoin:
As noted earlier, Bitcoin network is completely independent from any influencing or governing authority. Every person or business involved with Bitcoin network whether through mining or by transaction, becomes part of the entire blockchain network. Even with a fall in some parts of the network, the currency keeps moving.
Unlike conventional banks that know everything about their clients (credit history, spending habits, contact details, and more), Bitcoin network offers a safe and secure operation in which the wallet is not linked to any personal information.
While the system remains anonymous, the blockchain network makes every single transaction of Bitcoin transparent. What this means is that anyone in the network is privy to the operations and can study your wallet to know how much money it has. However, it’s nearly impossible to trace a particular Bitcoin address to the specific owner.
Once you make a payment in Bitcoin, you cannot claim the payment back, unless the recipient decides to send it back to you. This makes the entire chain of transaction secure, as the recipient cannot claim non-receipt of the money. In the end, it minimizes scamming. More importantly, Bitcoin network works faster than universal banks making it easier to send and receive payments.
Based on the current trend, the future of cryptocurrency looks bright. However, that only remains to be seen, as Bitcoin approaches the ten-thousand-dollar margin.