Bitcoin has been in prominence since its inception in 2009. Since then, Bitcoin has become the most discussed topic asand the all-time popular virtual currencies, keeping its competitors far back.
In today’s time,there are more than 81 million Bitcoin tradersworldwide. Bitcoin fosters peer-to-peer financial transactions that operate independently of the banking infrastructure. And being digital, Bitcoins can be transacted from anywhere in the world.
It should be noted that Bitcoin is independent of any government or administrative control. Bitcoin is the first decentralized crypto currency that has gained literally a momentum, having afinite supply of 21million market supply.
There are several such interesting statistical facts with respect to Bitcoin in specific and cryptocurrency as a whole. Let’s have a quick look-
- $1,812,346,864,418 is Bitcoins’stotal market capitalization
As of March 2022, $1,812,346,864,418 is the total market capitalization of the cryptocurrencies. Of which bitcoin holds a significantly large chunk.
- By 2023 the global blockchain market will be worth $23.3 Billion.
As per statistical trends, by 2023, the global blockchain capitalization will be a whopping $23.3 Billion
- By 2026 the global market size of cryptocurrency will be worth $108.7 Billion
As per statistical trends, by 2026, the global blockchain capitalization will be a whopping $108.7 Billion
- 65% of cryptocurrency owners use Bitcoin
Bitcoin is the most popular cryptocurrency. It will hold the most significant chunk of the market share. In 2021 almost 70% of cryptocurrency owners will use Bitcoin. The last known figures show that 65% of cryptocurrency owners still use Bitcoin.
- 88% of the total market valueof cryptocurrency is held by the first ten cryptocurrencies
Bitcoin, Bitcoin SV, Litecoin, Ethereum, Bitcoin Cash, , Binance Coin, Ripple, Tether, EOS, and Tezos fall under the category of the first ten popular form of cryptocurrencies. Together they cover 88% or $15,94,86,52,40,688 worth of market capitalization.
- There is a social media post on Bitcoin every 3 seconds.
Recent stats have revealed every day that there is about 28866 social media post made on Bitcoin. That means there are 1203 posts made on
Bitcoin every hour. That is 20 social media posts on Bitcoin every minute.
- There are more than three hundred cryptocurrency exchanges in the world.
The Cryptocurrency exchanges, popularly called crypto exchanges, work as the middlemen between a cryptocurrency buyer and a cryptocurrency seller. There is about 300 and more crypto exchange worldwide.
- Bitcoin is a legal tender in many countries.
Till date, El Salvador is known to be the one and only country where Bitcoin is accepted as a legal tender. However, several other countries also recognize Bitcoin under specific terms and conditions.
Canada also classifies Bitcoin as a “Money service business.” As per the reports, the Bitcoin transactions are mostly termed “barter transactions,” in which the source of income falls under the source of business income ofCanada. Similar to the USA, Bitcoin or any Cryptocurrency is not regarded as a currency in Canada.
In Australia Bitcoin is an asset mainly regarded astaxablecapital gains. Like Canada and the USA, Bitcoin or any Cryptocurrency is not regarded as a currency in Australia.
In the Countries of the European Union, buying and selling Bitcoin or any Cryptocurrency is regarded as a “supply of services,” and it is exempted from value-added tax.
The United Kingdom too considers buying and selling Bitcoin or any Cryptocurrency as a supply of services.
- Bitcoin is banned in a few countries.
The central banks of the countries like Bolivia, China, Columbia, Ecuador, Russia, and Vietnam have banned the use of Bitcoin or any cryptocurrency.
Bitcoin is banned in all these countries because Bitcoins have no specific government rules and regulations. The financial authorities of Russia mainly believe that Bitcoins are mostly used for laundering and terrorist financing cases.
There is still a significant amount of curiosity about how cryptocurrency works with the amount of wealth that cryptocurrency owners have accumulated. This has created a furthermore interest among others. People have been flocking to the different crypto exchange apps, one of such reliable crypto trading applicationthat has been liked by several investors and traders is the Bitcoin Era. Take advantage of the cryptocurrency rush through this trusted app.