Crypto Market Highlights – 2021
Many exciting events took place in the crypto market in 2021. The industry has experienced great dynamic and rapid leaps in global finance. A lot has happened this year that is not worth forgetting. They started with Elon Musk’s tweets, ending with the legalization of Bitcoin’s legal payment form in El Salvador. 2021 was when Google’s search interest in how to buy Bitcoin increased. The world was evolving in cryptocurrency adoption, and each trader had dizzying moments of success and mistakes. Let’s look at some of the most important and high-profile events of 2021 that caused the shocks.
Bitcoin All-Time High
Gaining more acceptance from businesses, BTC increased by 97.78% compared to the previous year. Many factors caused this. These include the adoption of Bitcoin by Tesla as a payment method. Coinbase’s profit could be approximately more than $100 billion. This will make the stock market the largest technical IPO in the US, after Facebook. In September, BTC could legalize and legally accept Bitcoin as a legal payment in El Salvador. In this decision, whether any country will join it in 2022 will be seen shortly.
Tesla and Bitcoin
After DOGECOIN’s father and crypto enthusiast, Elon Musk, announced that his rocket company SpaceX owns Bitcoin and has no plans to sell it, Tesla has announced the adoption of Bitcoin as a payment method. Recently, Tesla began issuing permits to purchase some goods in the cryptocurrency meme, dogecoin, which Musk prefers.
China became the first to introduce a sovereign digital currency. Developed in 2014 by the Central Bank of China, PBOC, the Chinese digital yuan is ready to impact the world economy. According to a BIS report, 80 percent of central banks research or engage in CBDC research and development. In addition, consumers are becoming increasingly receptive to CBDCs issued by governments. Based on a survey by Guardtime, 64% of adults will use digital currency issued by their country’s central bank.
Growth of NFTs
NFT Mania started in 2021, and several companies are preparing to launch a new collection. This year we saw the CEO of Twitter sell the first tweet NFT for $2.9 million in history. New York Times entered the game and even sold the article for over half a million dollars! The first text message in history was sold at auction by Vodafone’s British operator for $121,000 in NFT.
Tech giants like TikTok, Reddit are now focusing on opening their NFT market. While other social media representatives, including Facebook and Twitter, are discussing support for NFTs. The NFT industry reached $2 billion in the first quarter of 2021 alone! Can you imagine what we can expect next year? The NFT agitation is likely to continue.