From mainstream acceptance, emergence of new digital coins, to challenging central authorities over the notion of ‘currency’, 2021 will be remembered as the defining year of cryptocurrency across the globe. As the world prepares for Web 3.0, people have been exposed to the idea of adopting the digital ecosystem for currency in the form of digital tokens, instead of cash. Bitcoin – the world’s oldest and largest cryptocurrency – seized mainstream acceptance with El Salvador, amid its dizzying rally throughout the year. Apart from this, blockchain-based technology gave birth to non-fungible tokens (NFTs) – being non-interchangeable – distinguishing itself from cryptocurrency.
The positive sentiment around crypto around the world has not only encouraged investors but a whole new breed of crypto entrepreneurs with the intention to transform the global financial system. The rise of crypto investors globally testifies the fact that it has emerged as the most popular investment avenue challenging traditional asset classes such as gold, stocks, and real estate.
With major global announcements in the crypto market, 2021 was truly the ‘year of cryptocurrency’. As we near the end of 2021, here’s a list of all important events that helped crypto become a mainstream voice of the future.
Elon Musk’s $1.5 Billion Investment
Billionaire Elon Musk’s electric vehicle company Tesla Inc announced a $1.5 billion investment in bitcoin under its changed policy and announced that it would accept the currency as payment for cars. After Tesla’s announcement in February 2021, bitcoin’s price took a giant leap crossing the $48,00-mark – its largest daily rise in more than three years. Within a week, bitcoin created history crossing the $50,000-mark for the very first time, achieving further mainstream acceptance among large investors, especially after Tesla’s move.