BTC is a short form for BitCoin.
BTC is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
History
On 18 August 2008, the domain name bitcoin.org was registered. Later that year, on 31 October, a link to a paper authored by Satoshi Nakamoto titled Bitcoin.
Ticker symbol: BTC
Year released: 2009
Notable team members: Satoshi Nakamoto
Maximum supply: 21,000,000 (21 Million)
= 17.5 million Bitcoin are in circulation as of May 2020.
= Bitcoin is unrestricted — meaning it isn’t regulated specifically —
in 124 countries out of 257.
= The largest holdings in a single Bitcoin address contains 255,502 Bitcoin — or more than US$2.1 billion.
China Rolls Out Pilot Test of Digital Currency
For two days in a row last week, amid coronavirus-related market meltdowns, a group of stocks on China’s main exchange moved so significantly that they triggered automatic circuit-breakers designed to halt trading. But trading was suspended not because the stocks plummeted. It was because they soared.
The explosive rally of digital currency-related stocks followed news that after several years of anticipation, China’s government released a timeline for rolling out its new digital currency in four cities.
Future of BTC
Why it will touch $1 Million USD?
Chamath Palihapitiya is the Founder of Social Capital and Co-Owner of the Golden State Warriors. His Bitcoin journey started with an investment back in 2012, and by 2013 he had included Bitcoin in his hedge fund, general fund, private account. At one point, he owned 5% of all Bitcoin in circulation.
Wences Casares – $1,000,000 (by 2027)
Wences Casares is the Founder and CEO of Xapo, a Bitcoin wallet startup, and a board member at PayPal, among various other roles. Casares first found interest in Bitcoin due to high financial volatility in his home country Argentina’s native currency, the Peso. The tech giant bought his first Bitcoins in 2011.
John Pfeffer – $700,000
John Pfeffer is a partner at London-based family office Pfeffer Capital. He’s set a bold price target for Bitcoin of $700,000—about 175 times the current Bitcoin price of nearly $4,000. Pfeffer said that Bitcoin is the world’s first viable replacement for gold.
Mark Yusko – $400,000
Mark Yusko is the billionaire investor and Founder of Morgan Creek Capital. His prediction for Bitcoin is that it’ll be worth over $400,000 in the long term, a statement that made headlines because for its grandiose scale.
“It’s just math. It is gold equivalent…there are about 20 million Bitcoin available today. Gold today is about $8 trillion. That gives you $400,000. And that doesn’t include use cases that relate to currency,” Yusko said.
Bitcoin at $1 Million is Becoming A Lot More Realistic
The $1 million price target for bitcoin needs to be taken a lot more seriously. Crypto was easily the best performing major asset class over the past five years, and many believe the trend will continue for another decade or longer. The Senior Vice President of IBM, Jesse Lund, made a similar $1 million prediction at the Think Conference in February:
With only 20 million bitcoin in circulation, each bitcoin would be worth $50,000; at 5% each bitcoin would be worth $250,000; at 10% each bitcoin would be worth $500,000; and at 20% global adoption, bitcoin would finally hit the $1 million mark and would probably keep going.
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