{"id":376085,"date":"2019-03-26T20:00:55","date_gmt":"2019-03-26T20:00:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=376085"},"modified":"2019-03-26T16:47:39","modified_gmt":"2019-03-26T16:47:39","slug":"economist-bitcoin-fastest-highest-asset","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/economist-bitcoin-fastest-highest-asset\/","title":{"rendered":"Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> and its meteoric rise to $20,000 in December 2017 caught the attention of major mainstream media and the public eye, as early investors in the crypto asset shared stories of insane profits generated by the new and misunderstood technology. But the parabolic advance during 2017 pales in comparison to Bitcoin\u2019s 200,000,000% increase in a matter of nine years.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">That rise, says one economist, is the greatest and fastest rise ever witnessed in any asset type, and it could be due to one specific design aspect built into Bitcoin\u2019s code.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Economist: Nothing Has Ever Risen As Fast and As Much As Bitcoin Has Risen<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Beirut-based academic economist <a href=\"\/tag\/saifedean-ammous\" rel=\"nofollow\">Dr. Saifedean Ammous<\/a> is the author of the book <em>The Bitcoin Standard<\/em>. In his research, he spends a great deal of time focusing on the first-ever cryptocurrency as was designed by the mysterious Satoshi Nakamoto over a decade ago.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/03\/25\/bitcoin-price-gold-market-cap\/\">Bitcoin Price Chart Shows How Surpassing Gold\u2019s Market Cap Is \u201cEasily\u201d Feasible<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Since Bitcoin was released into the wild, it\u2019s been on a journey from virtually worthless, to someday becoming \u2013 potentially \u2013 <a href=\"https:\/\/uniquehot.com\/2019\/03\/06\/lightning-dev-explains-why-bitcoin-is-poised-to-become-the-global-currency\/\">the native global currency for the internet<\/a>. Along the way, the leading crypto by market cap has been called a bubble a number of times, as analysts warned of a looming bubble pop that\u2019d leave investors scorned. But after each bubble pops, BTC continues along its path to success.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin is not only incomparable to bubbles, its fast rise is also incomparable to the most successful companies and innovators. As far as I can tell, nothing has ever risen as fast and as much as Bitcoin has risen. <a href=\"https:\/\/t.co\/nywEGMsJHV\" rel=\"nofollow\">pic.twitter.com\/nywEGMsJHV<\/a><\/p>\n<p>&mdash; Saifedean Ammous (@saifedean) <a href=\"https:\/\/twitter.com\/saifedean\/status\/59837696?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 24, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">This path, says Dr. Ammous, is the fastest and largest rise of an asset ever witnessed, even when comparing investing just $100 in BTC against the likes of <a href=\"\/tag\/apple\" rel=\"nofollow\">Apple<\/a>, Microsoft, General Electric or <a href=\"\/tag\/google\" rel=\"nofollow\">Google<\/a> parent company Alphabet.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cBitcoin is a completely new animal, different from all before it,\u201d <a href=\"https:\/\/twitter.com\/saifedean?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">he explained<\/a>. \u201cYour old toolbox for analyzing bubbles, currencies, and stocks doesn&#8217;t work on it.\u201d<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Halving Makes Bitcoin an Asset Designed to Rise Fast<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">The reason behind Bitcoin\u2019s ability to rise further and faster than any other monetary asset before it? Dr. Ammous attributes the asset\u2019s unique ability to generate gains to the mining difficulty adjustment that occurs every several years.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/03\/01\/crypto-bitcoin-price-long-term\/\">Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">When <a href=\"\/tag\/satoshi-nakamoto\" rel=\"nofollow\">Satoshi Nakamoto<\/a> designed Bitcoin, a proof of work consensus was added to verify each new block being added to the blockchain. Miners are rewarded with a set amount of BTC for securing the network and validating transactions. These rewards, however, are reduced every few years at each Bitcoin \u201chalving.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin is a completely new animal, different from all before it. Your old toolbox for analyzing bubbles, currencies, and stocks doesn&#39;t work on it. <br \/>My explanation for this rise is that bitcoin&#39;s difficulty adjustment makes it a truly unique monetary asset built to rise fast. <a href=\"https:\/\/t.co\/VGoGhS1DsK\" rel=\"nofollow\">pic.twitter.com\/VGoGhS1DsK<\/a><\/p>\n<p>&mdash; Saifedean Ammous (@saifedean) <a href=\"https:\/\/twitter.com\/saifedean\/status\/28798208?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 24, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Each halving reduces the amount of BTC miners receive, therefore throwing off the balance of supply and demand. With less supply being rewarded to miners, there is less selling pressure on the market which <a href=\"https:\/\/uniquehot.com\/2019\/02\/11\/devere-ceo-bitcoin-rally\/\">can cause the asset to rise quickly in price<\/a>. Traders have also began to take notice of this behavior, which further adds fuel to the rocket as they begin accumulating the cryptocurrency at around 18-months out from the next halving.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The next <a href=\"https:\/\/uniquehot.com\/2019\/02\/11\/devere-ceo-bitcoin-rally\/\">Bitcoin halving date<\/a> is currently set for around May 23, 2020, which would suggest Bitcoin\u2019s accumulation phase has begun, and the asset could increase to potentially \u201cmillions\u201d in the future.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and its meteoric rise to $20,000 in December 2017 caught the attention of major mainstream media and the public eye, as early investors in the crypto asset shared stories of insane profits generated by the new and misunderstood technology. But the parabolic advance during 2017 pales in comparison to Bitcoin\u2019s 200,000,000% increase in a matter of nine years. That rise, says one economist, is the greatest and fastest rise ever witnessed in any asset type, and it could be due to one specific design aspect built into Bitcoin\u2019s code. Economist: Nothing Has Ever Risen As Fast and As Much As Bitcoin Has Risen Beirut-based academic economist Dr. Saifedean Ammous is the author of the book The Bitcoin Standard. In his research, he spends a great deal of time focusing on the first-ever cryptocurrency as was designed by the mysterious Satoshi Nakamoto over a decade ago. Related Reading | Bitcoin Price Chart Shows How Surpassing Gold\u2019s Market Cap Is \u201cEasily\u201d Feasible Since Bitcoin was released into the wild, it\u2019s been on a journey from virtually worthless, to someday becoming \u2013 potentially \u2013 the native global currency for the internet. Along the way, the leading crypto by market cap has been called a bubble a number of times, as analysts warned of a looming bubble pop that\u2019d leave investors scorned. But after each bubble pops, BTC continues along its path to success. Bitcoin is not only incomparable to bubbles, its fast rise is also incomparable to the most successful companies and innovators. As far as I can tell, nothing has ever risen as fast and as much as Bitcoin has risen. pic.twitter.com\/nywEGMsJHV &mdash; Saifedean Ammous (@saifedean) March 24, 2019 This path, says Dr. Ammous, is the fastest and largest rise of an asset ever witnessed, even when comparing investing just $100 in BTC against the likes of Apple, Microsoft, General Electric or Google parent company Alphabet. \u201cBitcoin is a completely new animal, different from all before it,\u201d he explained. \u201cYour old toolbox for analyzing bubbles, currencies, and stocks doesn&#8217;t work on it.\u201d Halving Makes Bitcoin an Asset Designed to Rise Fast The reason behind Bitcoin\u2019s ability to rise further and faster than any other monetary asset before it? Dr. Ammous attributes the asset\u2019s unique ability to generate gains to the mining difficulty adjustment that occurs every several years. Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term\u00a0 When Satoshi Nakamoto designed Bitcoin, a proof of work consensus was added to verify each new block being added to the blockchain. Miners are rewarded with a set amount of BTC for securing the network and validating transactions. These rewards, however, are reduced every few years at each Bitcoin \u201chalving.\u201d Bitcoin is a completely new animal, different from all before it. Your old toolbox for analyzing bubbles, currencies, and stocks doesn&#39;t work on it. My explanation for this rise is that bitcoin&#39;s difficulty adjustment makes it a truly unique monetary asset built to rise fast. pic.twitter.com\/VGoGhS1DsK &mdash; Saifedean Ammous (@saifedean) March 24, 2019 Each halving reduces the amount of BTC miners receive, therefore throwing off the balance of supply and demand. With less supply being rewarded to miners, there is less selling pressure on the market which can cause the asset to rise quickly in price. Traders have also began to take notice of this behavior, which further adds fuel to the rocket as they begin accumulating the cryptocurrency at around 18-months out from the next halving. The next Bitcoin halving date is currently set for around May 23, 2020, which would suggest Bitcoin\u2019s accumulation phase has begun, and the asset could increase to potentially \u201cmillions\u201d in the future.<\/p>\n","protected":false},"author":517,"featured_media":376088,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,8080,16999,3765],"class_list":["post-376085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-halving","tag-saifedean-ammous","tag-satoshi-nakamoto"],"acf":[],"yoast_head":"\n<title>Bitcoin Is The Fastest And Highest Rising Value Asset Ever | NewsBTC<\/title>\n<meta name=\"description\" content=\"The rise of Bitcoin, says one economist, is the greatest and fastest rise ever witnessed in any asset type and could be due to one unique feature.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/economist-bitcoin-fastest-highest-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Is The Fastest And Highest Rising Value Asset Ever | NewsBTC\" \/>\n<meta property=\"og:description\" content=\"The rise of Bitcoin, says one economist, is the greatest and fastest rise ever witnessed in any asset type and could be due to one unique feature.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/economist-bitcoin-fastest-highest-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-26T20:00:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-26T16:47:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/03\/bitcoin-price-btc-rise-shutterstock_1262008330.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"6000\" \/>\n\t<meta property=\"og:image:height\" content=\"4002\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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