When released in 2009, the virtual currency had a value of less than one U.S. penny per “coin.” However, just nine years later, one bitcoin reached $ 17,900 in the middle of December 2017, and the cryptocurrency’s market capitalization is now over $ billion.
One might think this as a normal product circle, but the reality is, cryptocurrency has been a favorable payment instrument over the decade. And the usage of cryptocurrencies will be as common as the use of normal bank notes and payment instruments. Just recently, Canada’s first Bitcoin-backed loan has been issued during the first week of November this year.