The Rise of Bitcoin in the First Quarter of 2021
Bitcoin continues to be the leading cryptocurrency within the financial industry, and in the first quarter of 2021, the crypto-economy has reportedly seen a massive increase in terms of growth.
In an internal first-quarter report, CoinPayments states that digital currencies, including Bitcoin, have confirmed themselves as a global payment system within the currency market.
As for North America, the value of all transactions made in the first quarter was more than $358 million, resulting in an increase of more than 143% compared to the history of transactions noted in the first three months of 2020.
The value of all transactions in the first quarter of 2021 is up by 45% when in comparison to 2020's fourth quarter.
In addition to the increase in value of all transactions, the total number of transactions grew to 348,088, increasing up to 56% from 2020's first quarter.
"Cryptocurrencies have seen some major milestones so far in 2021. We expect to see the same kind of adoption growth in the U.S. as regulation moves more in favor of digital currencies." as stated by Jason Butcher, CEO of CoinPayments to Kitco News.
Not only has the North American market reported historical growth, but other countries such as Europe have also increased 1.5 times bigger in the cryptocurrency market when compared to the North American market.
The total value of transactions in Europe was up nearly 243%, at $596 million since the first quarter of 2020.
In recent news, one of the largest enterprise Bitcoin self-mining companies in North America, Marathon Digital Holdings, Inc., also reports their findings on financial and recent Bitcoin mining highlights for the first quarter of 2021.
The report states that the total revenues have increased to $9.2 million from $592,000 in 2020's first quarter.
As stated by BitcoinMagazine, other large Bitcoin investments made in the first quarter by several companies include:
- Coinbase: Market Value of over $100 Billion
- Cipher Mining: Market Value of $595 Million
- Blockchain.com: Raised $120 Million in February 2021 and $300 Million in March 2021
- BlockFi: Completed a $3 Billion Series D Round
- NYDIG: Bitcoin purchase raised $200 Million
- Fireblocks: Raised $133 Million in a Series C
- Jack Dorsey and Jay-Z: Invested 500 BTC
- Anchorage: Raised $80 Million
- Compute North: $25 Million in Gross Capital Funding
In 2021, Bitcoin's market is approximately worth 10% of gold's market cap.
This is a huge jump from where it was previously in May 2020.
Nevertheless, since 2020, there have been obvious signs that Bitcoin's demand is growing incredibly fast in the first quarter of 2021, much faster than the market demand for gold, regardless of being worth only a small fraction of gold's market cap.
After reading the latest updates on Bitcoin's highlights in the first quarter of 2021, is it still worth investing in? With results stating Bitcoin's recent exploding growth within the market, we believe that now is more than the right time for you to invest!
- Bitcoin continues to be the leading cryptocurrency within the financial industry.
- The value of all transactions in the first quarter of 2021 is up by 45%.
- The total revenues in North America have increased to $9.2 million from $592,000 in 2020's first quarter.
- Bitcoin's market is approximately worth 10% of gold's market cap, but the demand continues to grow much faster than the market demand for gold.
- Don't miss out on the opportunity to invest in Bitcoin; the best time is now!