# Bitcoin is back, baby! - Durwin Ho - Medium

**Published by:** [Durwin](https://paragraph.com/@durwin/)
**Published on:** 2024-01-02
**URL:** https://paragraph.com/@durwin/bitcoin-is-back-baby-durwin-ho-medium

## Content

BTC outperformed most assets in 2023. Why?I would love to say it is back like it never left. But it did. It did leave. Painfully. Dipping and dropping in value like a Snoop Dogg dropping a beat like its hot. But it is back and its glorious! 155% increase YTD. Eat that, inflation. So why? Why is crypto’s OG and oldest coin suddenly back from the dead? In short, the Halvening. But there are other reasons too. Behemoths and big names are embracing it.BlackRock has proposed a spot Bitcoin ETF, which has gained attention in recent news.Fidelity Investments, a titan in asset management, broke new ground by integrating Bitcoin investments into 401(k) accounts. It’s like the old guard of finance finally putting on their digital dancing shoes to boogie with the new kids on the block. And talk about moving with the times, BlackRock — yes, the world’s heavyweight champ of asset management — is now giving its clients a sneak peek into the Bitcoin bonanza through a private trust. Who said elephants can’t dance?More and more industry titans are venturing into BTC because there is a market for it.Visa and Mastercard, those omnipresent giants of the payment world, are now letting transactions flow through the Bitcoin stream. Picture this: you could soon be buying your morning coffee or bidding on that vintage Elvis Presley vinyl on eBay with Bitcoin. Globally, the winds of change are blowing in Bitcoin’s favor too. El Salvador adopted Bitcoin as legal tender, a bold move that’s sending shockwaves across continents. Europe isn’t far behind, with Germany green-lighting institutional funds to hold a slice of their wealth in cryptocurrencies. More and more countries and cities are adopting Bitcoin.According to all this information and nayibtracker.com, El Salvador holds 2,762 bitcoin, with an average price of $42,433.42 and a current market value of over $115 million.But really, its the Halvening. Bitcoin halving is when the reward for Bitcoin mining is cut in half. It takes place every four years. It’s like a financial comet that comes around every four years, each time setting off a price firework show. As Bitcoin’s creation rate halves, its scarcity goes up, and so does its allure for investors. It’s basic Economics 101 but very, very potent. As supply decreases, scarcity increases and prices go up. It would be more expensive to buy 1 BTC years from now simply because there would less BTC to go around.Will BTC finally be a global currency to replace the existing one?As we witness Bitcoin’s resurgence, powered by institutional and retail adoption, regulatory support, and its unique appeal in our digital world, one can’t help but wonder: are we witnessing the dawn of a new financial era? I don’t think so. Not yet. It will take a long time for that to happen. But for now, I think it is good to have an alternative financial system in place. Let’s see where it goes from here. The Moon. Of course. =) -Do you believe in BTC?- #Bitcoin #DigitalGold #FinanceRevolution #Cryptocurrency #BTC #InstitutionalAdoption #RetailRevolution #RegulatorySupport #HalvingHype #DecentralizedFuture #FinancialFreedom #DigitalCurrency #CryptoTrend #BlockchainTechnology #FinancialInnovation

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