Bitcoin | Across the seven seas: Retail, institutional investors keen on Bitcoin

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Bitcoin | Across the seven seas: Retail, institutional investors keen on Bitcoin
The Bitcoin bull market led by institutional investors is pushing retail investors from countries like Russia, Vietnam and India toward cryptocurrencies.
Institutions have been at the forefront of the crypto bull run seen since Q4 2020, but now retail investors have been taking the center stage as well. Bitcoin (BTC) is getting more popular all around the world and it officially became a legal tender in El Salvador on Sept. 7, making it a landmark event for retail and sovereign adoption of the asset.
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Bitcoin (BTC) was invented by a pseudonymous individual or group named Satoshi Nakamoto in 2008 and is the world’s first enduring cryptocurrency that succeeded where decades of digital cash experiments failed.

Bitcoin’s monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties. The Bitcoin network is powered by a cryptographically secure, verifiable database called the blockchain — itself a technological phenomenon.

The Bitcoin ecosystem consists of a global network of stakeholders, including the miners that secure the network and drive the issuance of the Bitcoin currency, the traders who speculate on this radically market-driven asset, and the builders working to onboard people to the cryptocurrency paradigm.
The cryptocurrency market was worth more than $1.6 trillion by the end of the July 2021. And bitcoin controls more than 47 percent of that market, according to Tradingview.com, down from more than 70 percent at the start of 2021. Altcoins, or alternatives to bitcoin, have surged in number and value since 2018. Crypto networks with advanced technologies such as Ethereum, Polygon and Uniswap have captured more and more of the crypto market. And there’s also stablecoins, utility coins and meme currencies like Dogecoin. Here’s how altcoins work, and why they’re becoming a larger and larger force in the crypto market.

Altcoins have become an increasingly larger part of the crypto market since the beginning of 2021.

“Crypto and blockchain is about moving money and property rights onto the internet,” said Matt Hougan, Bitwise chief investment strategist. “That’s one of the largest addressable markets that the internet has ever attacked.”

At the start of 2021, bitcoin made up more than 70% of the crypto market, according to TradingViews. By the end of July 2021, bitcoin’s market share dropped to 48% of the global $1.6 trillion cryptocurrency market, with altcoins such as ether and USDC eating into its dominance. In fact, the crypto market now contains more than 11,000 different kinds of altcoins, according to Coinmarketcap.com.

“Everybody’s trying to do something that hasn’t been done before,” Mati Greenspan, Quantum Economics founder and CEO, told CNBC in an interview.

Altcoins fall into several different categories. There are technology platforms such as ethereum, the blockchain that ether is built on and that provides the underpinnings for the growing “decentralized finance” movement. There are stablecoins, or digital currencies pegged to real-world currencies or other assets. And then there are meme currencies, like dogecoin.
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We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.
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