Is Bitcoin having a moment? Love it or hate it, it currently appears to be here to stay and there's no doubt about its rising performance lately. The question is, why has it gone up so much?
Let's start with a bit of history – Bitcoin came out of the shadows in 2009, right around the time of the housing market crisis. It stayed in relative obscurity for a while until it became transactional – Pizza Day in 2010 – an individual paid 10,000 BTC for two pizzas (over $584 million at the writing of this article!)
Bitcoin continued to rise for several years, but wasn't adopted by the masses until 2017, when it jumped from $1,000 to over $19,000 before the end of the year. 2018 brought on a big crash in crypto…but all was not lost.
These days, Bitcoin is back. Recently it even crossed the $60,000 price barrier. Mass adoption and support from investors and companies such as Elon Musk, Tesla, Visa, and Apple Pay are all starting to to accept Bitcoin.
Want to see more about the rise of Bitcoin? Check out the visual deep dive below: