The Resounding Global Echo of Bitcoin’s Adoption Waves

The Resounding Global Echo of Bitcoin’s Adoption Waves: We’ll discuss, with data and numbers how Bitcoin is being adopted and creating waves in the industry. 

Nothing in this piece is speculation, or “hope”. It’s all history and maths that you can cross check at will. 

In fact, I’d urge you to send this piece to anyone who’s sceptical on Bitcoin, or Cryptocurrencies in general. 

Let’s get started then?

Why Bitcoin’s adoption matters (and doesn’t matter)

That’s a pretty weird statement to make, but let me explain. 

Bitcoin went from around $4.00 to $16.00, a 300% increase in 2012. It hit $67.00 next year, already a 400%+ increase and went up to $1,163, a 1623% increase in 2013.In fact, in 2017 its lowest price was $775.00 and the highest was about $20,000. A 2570% increase! 

If you compare each year, up until 2018, you’d see a difference of at least 150% between BTC’s lowest and highest prices for each individual year. Why 2018? Because till then 90% of the globe said Bitcoin is a sham. It’s a gamble. A bubble. It won’t work.

Well, it did. Without any major support and with a lot of criticism. 

2018 is around when people started crying about the missed opportunities. 

This proves that Bitcoin is probably here to stay, with or without major adoption. It flew against the wind and has been one of the biggest financial revolutions on the planet, ever, without support. 

The point is, now that it has started to see some support from major companies, billionaires and governments, it’ll probably see even major boosts. This is the simple logic of it being a “sentiment-driven” market and people buy things when your govt/country or famous/successful people support it.

So, while I don’t believe the adoption matters to a large extent (it was inevitable anyway), we will discuss the largest Bitcoin waves we’ve seen till date.

Pre-mainstream adoptions 

While 2017-18 is generally considered the mainstream adoption period for Bitcoin adoption, many companies showed their love for BTC much earlier.

In fact, the support of these companies was one of the major pushes that resulted in others accepting BTC later. 

Microsoft was one of the earliest adopters letting users pay for digital content via Bitcoin. Being one of the biggest companies at the time, this caused waves in the industry.

Overstock.com, Expedia and many other big names also showed confidence in BTC’s earliest days. 

The 2017 Chicago Mercantile Exchange (CME) Bitcoin futures adoption

This was one of the earliest mainstream Bitcoin adoption. It was so early many called it not a wise move. It never even gained massive popularity either.

However, It was a major move because the CME is a pretty major non-crypto platform. Its adoption of Crypto, in any form, signalled at least some acceptance for the coin. 

Of course, the CME didn’t allow directly buying or selling of Bitcoin. However, it did allow more traditional investors to invest in Bitcoin by investing in its derivatives.  

Do note that this was in 2017, when Bitcoin’s price dipped down to about $700. Even from that day, Bitcoin is up about 100x or 1000% as of April 2024.

2020- Microstrategy’s BTC investment

Back in August 2020, Michael Saylor, the CEO of Microstrategy poured in $250 million into Bitcoin.

It was a big deal because Microstrategy is a publicly traded firm and one of the biggest business strategy companies on the planet! If they were putting money into this digital gold, the world had to listen! 

Since then, Microstrategy has been constantly buying up Bitcoin. As of April 2024, their total holdings amount to over 214,400 Bitcoins. Their average buying price is around $35000. Even from here, they’re about 2x or 100% up on their investments.

2021- El Salvador makes Bitcoin a legal tender 

This was arguably the biggest, most major decision the world has seen from any “country” in favour of Bitcoin.  

So, 2021, El Salvador, not the richest, most developed or the most financially-stable nation, just decided to make Bitcoin its legal tender.

Naturally, every “first-world nation” had a few words to say on the decision. Because, apparently, they knew better. Well, they didn’t.

El Salvador has made over $80 million on its investments so far! That’s 80 million that its citizens didn’t have to pay for! 

In case you’re wondering, a legal tender means the government recognizes Bitcoin as a mode of payment. That’s a very simple explanation but it gets you the idea.  You can buy almost anything in El Salvador at this point using Bitcoin, including settling debts! 

2024- Bitcoin Spot ETF

On January 10th, 2024, the U.S SEC finally approved the Bitcoin spot ETF. After El Salvador’s move, this can arguably be called the second biggest govt/nation-backed move for Bitcoin. 

This would now let investors trade and invest into Bitcoin without actually directly dealing with the Cryptocurrency.

It helps bridge the gap between traditional investors and the much newer Cryptocurrency. More than the inflow of money or volume, the fact that the U.S, a country not exactly known for being pro-Crypto, had approved the Bitcoin spot ETFs.

Conclusion- The Resounding Global Echo of Bitcoin’s Adoption Waves

Well, it’s more than evident that the world has heard Bitcoin’s echo, isn’t it? With each passing day, more and more institutions are adopting the coin or shedding tears for the lost gains they could’ve made. 

Personally, I’ve pro-crypto but I’m sure you can listen to Microstrategy, Tesla, Microsoft, or even the U.S govt. When it comes to Bitcoin investments. You can always learn more about investments from https://immediate-bitwave.com/ they’ve got data that you can benefit from.