When the enigmatic Satoshi Nakamoto gave birth to Bitcoin in January 2009, he had no idea of the cataclysmic, far-reaching repercussions of his innovative solution to the double-spend problem. Although he was neither a superstar programmer nor a superstar mathematician, he whipped up an idea that would change the world.
The notion of million-dollar Bitcoin may seem damnably unrealistic, but consider that the cryptocurrency that was trading for pennies in 2009 has now soared to almost $1000 USD. From a dollar to a thousand dollars is a 100,000% rise. From a thousand dollars (its current price) to 1 million dollars is also a 100,000% rise. Bitcoin has a proven track record of this magnitude of appreciation.
The rise of Bitcoin has been anything but steady and reliable, with the price leaping and plummeting seemingly on the whim of an unfavorable news report, a hacked exchange, an ugly theft, or some nasty news out of China. Nonetheless, the trend has been inexorably upwards, and there is no reason to believe this trend will change. Here’s why …
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