Cryptocurrency’s Growth Supported by Gambling Companies

Bitcoin had almost no value at all when it initially appeared in 2009. There were no exchanges operating and owners couldn’t use it to purchase goods and services like they can today. In early 2010, Bitcoin’s value sat at around $0.003. That’s one-third of a penny. That March, a Bitcoin owner tried to sell 10,000 Bitcoins for just $50. Nobody bought it. With the price of one Bitcoin hovering around $8,000 these days, that $50 investment would now be worth about $80 million.

Things began to change in July 2010 when Bitcoin reached $0.08. Over the next year, the fledgling cryptocurrency reached $31. It proceeded to crash back down to around $2 before closing out 2012 at $13. This volatile virtual currency has since peaked and plummeted many times. It briefly flirted with the $20,000 plateau in December 2017 and it has been as low as under $3,500. What does the future have in store for Bitcoin? While some think cryptocurrency will crash and fade away, a few optimists have mused…