After being forced financially offline due to the ongoing crisis, we are finally back. We have been promoting Bitcoin innovation in the Middle East since 2016 and or mission is to be a hub where information and knowledge about the latest news and trends all around the Bitcoinsphere is shared.
As this is being written, last year’s halving is being clearly felt where the $10,000 price mark was finally breached to shoot over $40,000 and is resting now at over $30,000. According to @PlanB’s Stock to Flow and Cross Asset models analyzing Bitcoin’s price to supply dynamics, it is expected to reach into the 6 digits by year end.
Bitcoin, like most software running the internet, is programmed by swarms of online volunteers who dedicate their free time to produce something workable and of use for humanity, for free. Bitcoin is the peoples’ money because its issuance cannot be subverted by any single entity and its supply is capped. This is in direct opposite to government issued fiat currency. Bitcoin is the financial escape valve that was created as a safe haven refuge to protect people’s assets.
What’s more, Bitcoin is globally and easily liquid, it can be converted for cash anytime, anywhere. There are no limits to how many you can own or transfer. Transfer costs are a tiny fraction of what they are at traditional financial institutions and are completed usually in around 1/2 hr to 2 hrs.
That’s a quick summary looking into Bitcoin and why you should adopt it if you haven’t already. Check out the Bitcoin Resources page for local Bitcoin info.