Issa Asad Reveals 6 Facts About Bitcoin That You Need to Know NOW
Bitcoin is among the most mysterious things of 2017 because even the most self-proclaimed tech savvy individuals have had a rough time comprehending this enigma. Regardless, it continues to be one of the hottest topics of discussion even among the world’s most knowledgeable and sophisticated investors. Stock traders and other aggressive investors and entrepreneurs are determined to learn more about Bitcoins and make them part of their future investment strategy.
“At slightly over 8 years old, Bitcoin remains the most-valued cryptocurrency globally. It is also the only one,” said Issa Asad Florida entrepreneur and businessman since 1996. Mr. Asad is the CEO of Q Link Wireless and Quadrant Holdings, located in South Florida. He is also the author of 4 e-commerce and marketing e-books that can be purchased on Amazon.
Regardless, it continues to enjoy a controversial history, with high-profile individuals supporting it. Here, Issa Asad Reveals 6 Facts About Bitcoin That You Need to Know NOW:
1. Origin of Bitcoin
Started in 2008, when Satoshi Nakamoto, the most known pseudonym surrounding its creator, published a convincing concept for it, bitcoin is almost 9-years-old. The proof concept enjoyed publication in a 2009 cryptocurrency mailing list. Upon exiting from the concept in 2010 and disappearing from the scene, Nakamoto left other developers to continue with the concept and develop the project. Nakamoto mined bitcoin’s initial 50 units on January 3.
2. One Can Spend Bitcoins
Bitcoins continues to be a preferred currency by some, as they purchase goods and services using it. Overstock.com and Expedia form some of the largest businesses that trade in the cryptocurrency.
3. Has Attracted Mixed Reactions from Billionaires
Popularly known for his vast knowledge of the stock market, billionaire Warren Buffett has been quoted dismissing the currency as a mirage and a potentially disastrous investment. He warned people to avoid it and told CNBC that its purportedly high intrinsic value made it look like a big joke. However, other billionaires like Mark Cuban and Richard Branson remained more optimistic about it, with the former even investing in a venture capital fund supporting it.
4. Superwealthy Twins
Tyler and Cameron Winklevoss, known for their tug-of-war with Mark Zuckerberg over Facebook rights, are notable investors in the mysterious cryptocurrency. Educated in Harvard, the twins bought the idea back in 2013 and invested some $11 million in the currency, thereby controlling 1 percent of the total currency in circulation back then. Upon reaching $11,000 per unit in December 2017, the siblings immediately became the first billionaires to be elevated to this status via Bitcoin.
5. Massive Support from a Giant Financial Institution
Fidelity Investments embraced the cryptocurrency and other similar currencies in August 2017, making it a unique financial institution. The giant financial institution lets clients use its website to gain access to their bitcoin holdings via Coinbase, a muscle in the digital wallet field. This has provided a platform for clients to learn more about the unique asset and interact with them.
6. Bitcoin’s Draw-Dropping Appreciation in Value
As of December 2017, the crypto asset’s value had hit a record high of about $10,000 for every unit. With about 16.7 million of its units in circulation, this cryptocurrency enjoys an enormous market capitalization of over $167 billion (as of 28 November 2017). This surpasses that of tech giant IBM or fast food genius McDonalds.