The year 2021 is a historical year for the world of cryptocurrency. The year is not only memorable for bitcoin’s massive price hike but, so many interesting things happened in crypto history. After bitcoin began to increase its value in 2010, people were very much active with it. 2021 was the year when Crypto Trading became the second most important thing after the covid-19 pandemic. During the pandemic, there was a huge slow down of the process of Bitcoin price and the popularity, and hence, there was a slowing down of the process of investing in Bitcoin also.There is a huge prospect of growth
- Bitcoin’s all-time high value:Bitcoin reached its all-time high value in 2021. At the end of 2020 bitcoin’s price was around $29,000. After that, the price suddenly increased and in November 2021 it skyrocketed to over $68,000. It was the highest pick-up point for bitcoin and it happened for the first time too. Now in July 2022 bitcoin’s price is dropped again to around $30,000. So, November 2021 is a historical month for bitcoin till now.
- Miami conference:Miami conference was the biggest-ever bitcoin conference that was arranged in 2021. The conference was organized in Miami city in Florida, US for two days from 4th June to 5th June 2021. The list includes the founder of Twitter Jack Dorsey, the chairman, and CEO of MicroStrategy Michael Saylor, Nick Szabo, Cynthia Lummis, and Tony Hawk. Mayor of Miami Francis Suarez and the famous Winklevoss twins were also invited as guests to this conference. This conference was important because Bitcoin and other coins could reach much popularity through this process.
Over 50,000 people were expected to attend the great conference. Bitcoin’s price influence was another concern of this conference.
- World Forum of Ethereum Scaling and Upgrading 2021:The event was about the second most popular cryptocurrency Ethereum. It was held in Shanghai, China on 19 July 2021. The main motto of this event was to introduce more possibilities that the second layer of the Ethereum network can do. In addition, the popularity also increases to Terra, Avalanche, Tikka Token which have acquired a good position in the global market.
- Ethereum Classic (ETC) Magneto Hard Fork:It was another big event on the Ethereum network held on 21 July 2021. The reason was to reduce the cost of Gas in the Ethereum network. The event discussed that if the keys and the addresses are stored in one place in the network from where every customer access it, the Gas cost will be minimized.
Many more conferences and events about bitcoin, other cryptocurrencies, and blockchain networks held in 2021. Now, let’s know about some big companies’ movements with cryptos this year.
- In 2021 the Co-founder and CEO of Tesla Elon Musk announced that Tesla would be accepting bitcoin payments for the customers who were willing to buy Tesla cars. However, before few months, there was a problem regarding Bitcoin network, and Tesla was not willing to work with them.
- Mastercard, in November 2021 said that it will start a partnership loyalty program where they will facilitate the users to buy, hold, and sell bitcoins through their digital wallets, and for that, they would be incentivized by cryptocurrencies.
- Microsoft also declared in 2021 that they would allow bitcoin payments for their services like Xbox Live, Skype, etc.
- PayPal, the popular payment gateway company enabled buying, holding, and selling of cryptocurrencies like bitcoin, litecoin, Ethereum, and bitcoin cash through their application from October 2021.
Not only companies, but some banks also showed their interest in cryptocurrencies in 2021.
- US Bank launched the bitcoin custody service in October 2021 for the investment managers who invest in institutions.
- Wells Fargo is another renowned bank that in May 2021 announced to offer crypto funding for their customers.
- Also, the famous insurance company AXA facilitates their customers to pay bills from April 2021.
- Crypto investment: In 2021 bitcoin investments also increased in number. So many new trading exchanges were created. People started investing more in bitcoin with other cryptocurrencies through platforms like the Bitcoin Evolution. This automated trading bot has been created after extensive research of the crypto trading market. It helps you formulate the best trading stratergies.
The whole year of 2021 was actually packed up by crypto news and events. The covid-19 pandemic breakdown couldn’t stop anything.