On Sunday (October 31), Bitcoin HODLers celebrated four things: (1) Halloween; (2) the 13th anniversary of the release of Bitcoin’s white paper; (3) 40% price gain (vs USD) for $BTC in October; and (4) highest ever monthly close for $BTC.
Bitcoin’s White Paper
It was on 31 October 2008 that Satoshi released Bitcoin’s white paper, which was titled “Bitcoin: A Peer-to-Peer Electronic Cash System”. The original goal for Bitcoin was to be “a purely peer-to-peer version of electronic cash” that “would allow online payments to be sent directly from one party to another without going through a financial institution.”
This is how Satoshi announced the release of this white paper on the Cryptography Mailing List:
Hal Finney, the person person to receive BTC from satoshi, wrote eight days later that if Bitcoin one day became the “dominant payment system in use throughout the world”, each Bitcoin could be worth $10 million.
On 3 January 2019, the Bitcoin network went live with Satoshi mining the genesis block of bitcoin (block number 0), which had a reward of 50 BTC.
Dr. James Angel, associate professor at Georgetown University’s McDonough School of Business, told Cointelegraph:
“It has set in motion a revolution in finance with the rise of DeFi apps, smart contracts, and coin offerings, in addition to a payment revolution that is leading to central bank digital currencies.“
Yesterday, two high profile members of the crypto community who were celebrating the 13th anniversary of the release of Bitcoin’ white paper were Michael Syalor, Co-Founder, Chairman, and CEO of Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR), and Tyler Winklevoss, co-founder (along with his twin brother Cameron) of Gemini Trust Company, LLC (which operates the Gemini digital asset exchange) as well as family office Winklevoss Capital Management, LLC.
Bitcoin’s Price Action
According to data by TradingView, on crypto exchange Bitstamp, Bitcoin started yesterday at $62,149, and end the day around $61,270, for a loss of 1.41$, which is nothing too scary.
However, what was much more interesting was that the Bitcoin price went up 39.6% in October — from $43,889 to $61,270 — which led on-chain analyst Will Clemente to point out that we had just witnessed Bitcoin’s highest ever monthly closing price.
Google’s Parent Company Invests in Digital Currency Group (DCG)
As CNBC reported earlier today, CapitalG — which is Alphabet’s independent growth fund — joined several other big name investors, such as SoftBank Group and Ribbit Capital, to take part in a secondary offering of shares of privately-held Manhatten-based Digital Currency Group, Inc. (“DCG”), which is an investor in some of the best-known businesses in the crypto space, such as Abra, Coinbase, Coindesk, BitGo, and Ripple. DCG is the parent company of crypto investment firm Grayscale Investments, LLC, which offer several investment products, the most well-known of which is the Grayscale Bitcoin Trust (GBTC).
The CNBC report went on to say that the $700 million deal values DCG at $10 billion.
DCG Founder and CEO Barry Silbert told CNBC in an interview:
“We’re the best proxy for investing in this industry. We were looking for the type of backers that could be, and hopefully will be with, with us on this journey for the next couple of decades.“
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
IMAGE CREDIT
Featured Image by “nck_gsl” via Pixabay
