at recent days Cryptocurrency They have experienced a boom in recent months driven by three factors: the SARS-CoV-2 pandemic, some billionaires like Elon Musk, and even governments.
More and more people are starting to invest in cryptocurrency and Many think it will be very profitable Over time despite its volatile nature.
Below are the current market prices of the most prominent cryptocurrencies on May 14, 2022.
Bitcoin
Price: $30.132,773
Change: 2.85%
raised
Price: $2,061,243
Change: 2.41%
connect us
Price: $0.999
Change: 0.05%
BNB
Price: $297,388
Change: 2.34%
Litecoin
Price: $68.95
Change: 1.45%
Dogecoin
Price: $0.09
Change: 1.66%
What is cryptocurrency?
Cryptocurrency or Cryptocurrency It is a digital medium of exchange that does not physically exist and who wears a cipher encryption To ensure the integrity of transactions and maintain control over the creation of new units.
Bitcoin was born in 2009 and since then many cryptocurrencies have been created. Litecoin, Ethereum, Bitcoin Cash, Ripple, Dogecoin, and LUNA are some of the most popular.
Cryptocurrencies have different characteristics that make them unique, such as It is not regulated or controlled by any organizationThey do not require intermediaries in transactions and accounting blocks are used to prevent the illegal creation of new cryptocurrencies.
However, by the absence of regulators such as the central bank or similar entities, it is indicated Unreliable, volatile, encourages fraud, does not have a legal framework that supports its users, allowing illegal activities to runamong other things.
You can have it Buy or exchange own currency on specialized portals. Its value varies according to supply and demand and the commitment of usersso it can change faster than traditional money, but the more people are interested and want to buy a particular currency, the higher its price will be.
However, everyone who invests in this type of digital asset should be very clear that this model brings with them High risk to capitalWell, just as there may be an increase, there may also be an unexpected collapse and the termination of users’ savings.
Bitcoin boom
Bitcoin was born after the 2008 financial crisis, it promoted a libertarian ideal and aims to put Conventional monetary and financial institutions. It was launched by someone named Satoshi Nakamoto, but his identity remains hidden today.
According to a book published by Satoshi Nakamoto, the purpose of cryptocurrency was Make online payments directly from a third party to another without going through a financial institution.
This is how on January 3, 2009 he created the first block of 50 bitcoins. There are currently about 20 million bitcoins in circulation And the monetary mass does not stop increasing with the continuous emission of new units.
In 2013, bitcoin, which at the beginning was worth almost nothing, crossed $1,000 and began to attract the attention of financial institutions. Months later, he faced his face Big Crisis With MtGox Hacking Directed by Mark Karpels, in which up to 80% of the units in circulation were exchanged. Prices plunged and it took three years for the cryptocurrency to recover
At an all-time high, the cost of Bitcoin surpassed $68,000 and remains the most popular cryptocurrency in this digital market.
Despite the progress and scope of Bitcoin and other digital assets, organizations such as the World Bank, the International Monetary Fund (IMF), and the Inter-American Development Bank (IDB) remain skeptical about POSSIBLE BENEFITS of this type of cryptocurrency.
Elon Musk’s hand
The popularity of cryptocurrencies did not occur naturally, rather it was driven by different personalities, which highlights personality millionaire Elon Musk.
Since mid-2020, the founding owner of Tesla has been making positive comments about cryptocurrencies through his Twitter account, primarily from Bitcoin and Dogecoin.
Elon Musk started sending positive and hilarious tweets about Bitcoin and soon after announced it Tesla will accept this cryptocurrency To buy his electric cars, which only lasted for a short time due to the millionaire’s environmental concerns about bitcoin mining.
In the same year, in 2021, Elon Musk invested $1.5 billion in Bitcoin. Earlier this year the US Securities and Exchange Commission confirmed that He had nearly $2 billion worth of bitcoin.
Elon Musk’s good comments about dogecoin It started long before bitcoin, in 2019, when he tweeted that it could become Your Favorite Cryptocurrency Described as “Cool”.
The SpaceX founder’s tweets about dogecoin returned with greater intensity in 2021, around the same time he was posting about bitcoin, for example, when he tweeted that he would eat McDonald’s “Happy Meal” on TV if the fast-service chain accepted dogecoin. She would buy some of these cryptocurrencies for her son and take her to the moon, literally.
In early 2022, Elon Musk did the same with Bitcoin and Announced that Tesla will accept Dogecoinbut with some limitations.
Every time Elon Musk makes comments about cryptocurrencies, they increase their pricesalthough not in all cases they can survive, especially dogecoin.
Elon Musk’s significance about these cryptocurrencies is that in the face of any of his moves, which are not necessarily related to digital currencies, they manage to boost their value.
At the end of April 2022 and after several weeks of negotiations, Twitter has accepted the entrepreneur’s offer to buy the social network for $44 billionwhich caused Bitcoin, Dogecoin and other cryptocurrencies like memecoin and Luna will increase in price.
A cryptocurrency has appeared, still in beta, called “Elon buys Twitter” (Elon buys Twitter)This is after Elon Musk’s intention to acquire the social network was published, which also increased its value.
Cryptocurrencies in Latin America
Cryptocurrencies in Argentina: Despite the fact that digital currencies have not been legalized in Argentina, their popularity is increasing after decades of financial instability that citizens have had to contend with, becoming one of the Latin American countries with the largest cryptocurrency presence. Along these lines, President Alberto Fernandez suggested using it to combat inflation.
In addition to Bitcoin, another popular cryptocurrency is LUNA, a token that is traded on the Terra platform and can be purchased on the Tienda Crypto platform. This cryptocurrency managed to get a historical maximum of $119.18.
Cryptocurrencies in Mexico: The Bank of Mexico (Banxico) has decided that none of the institutions participating in the national financial system may use or allow operations of any kind through these payment methods. However, the country ranks 14th out of 27 countries with digital currencies, overtaking Venezuela and Colombia, with around 13 million users in 2021, according to a study by Finder.
On Mexican soil, businessman Ricardo Salinas Blego, one of the country’s richest personalities, has shown interest in cryptocurrency and has confirmed that many of his businesses will accept bitcoin in the future, including his bank, including one of his most famous stores. .
Cryptocurrency in Peru: The Central Reserve Bank of Peru (BCR) clarified that its mission is not to be the first or second central bank to regulate the use of cryptocurrencies, due to the instability that characterizes them. However, days ago, the head of (BCR) confirmed that BCR was working on its own digital currency project.
Cryptocurrency in ColombiaThe South American country has more than 500 sites where cryptocurrency payments are allowed. In December 2021, it became the third country in the world with the highest growth rate for bitcoin owners, surpassed only by Russia and Norway, according to Finder.
Cryptocurrencies in Central America: in government saviorgrant him confidence on June 9, 2021 Became the first country to legalize Bitcoin as legal currency. In addition, President Neb Bukele announced his intention to create the first Bitcoin City in Conchagua, which will be funded through a Bitcoin-backed bond.
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