How crypto-currency changed the world of investing

This pizza sold for 10,000 Bitcoins in 2010, which now is around $450,000,000.

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This pizza sold for 10,000 Bitcoins in 2010, which now is around $450,000,000.

Matthew Mantoura, Photojournalist

After the past 2 years, crypto currency has made a massive impact on the investing/trading communities. Lots of people have realized how much better it is to invest in crypto currencies than stocks. Crypto currencies have been a booming industry for a while now, but have been receiving a lot of attention over the last couple of years, even though crypto currency has  been an ongoing industry for a while.

The largest crypto, known as Bitcoin, has been around for a long time. It was created in 2009, marketed as the first crypto currency ever. It started gainingpopularity very quickly due to its originality. Later on, in May 2010, a man paid for a pizza using bitcoin, the first recorded bitcoin transaction. This person played 10,000 Bitcoins for pizza, which back then equated to around $41. Now, 10,000 bitcoins would be around $450,000,000. Jordan Luzzi (10th) says “It’s crazy to think that someone didn’t know how much money 10,000 Bitcoins would be until now.” This transaction sparked a lot of interest in the crypto world as people saw this as a way of making transactions, instead of the regular cash/credit card payments that everyone is used to. This day was so big that it is a holiday now called “Bitcoin Pizza Day” which takes place on May 22 of every year.

A couple years after this, bitcoin was pretty steady, but in around June 2019, it hit 5 digits, $10,000. This was a huge milestone for all of the crypto currencies in the world as bitcoin has the largest crypto market cap, at around $845,107,447,897. With all of the other crypto’s market caps, everything combined brings the crypto currency market cap to around $2,000,000,000,000. which is more than Apple’s market cap. 

Due to the differencities of the market caps, crypto currency is a lot more volatile. Stocks have marketing, and stores to back their investments, but crypto currency doesn’t. It is a way different thing which is why it has completely changed the entire scheme of investing/trading stocks and crypto currencies. Crypto currencies also have a 24/7 economy, and stocks have a schedule, opening at 6:30 PST – 1:00 PST. After the open market closes, the after market opens for 3 hours. Crypto currency has the advantage as they can trade at their own schedules, unlike stocks which are stuck to a schedule. This is how crypto currency has completely changed the investing industry.

“It’s crazy to think that someone didn’t know how much money 10,000 Bitcoins would be until now.” ”

— Jordan Luzzi (10th) says