Why has crypto become so popular?

Investors are intrigued by the potential of cryptocurrency to grow in value as well as the potential transformation of the financial system that crypto might bring.

When Bitcoin first launched in January 2009, few imagined a single BTC would be worth over $65,000 (as of November 15, 2021) or that a single digital currency would spur the creation of thousands more. But it has. In just 13 short years, cryptocurrency has gone from being viewed as a financial fad to becoming a new market sector worth trillions.

But it’s not just the value of the coins and tokens themselves that has captured investors’ attention. Many forms of crypto are being created as part of larger digital platforms that are part of the DeFi or decentralized finance movement. There are new investments based on crypto, new channels for global transactions, and myriad other innovations, from smart contracts to non-fungible tokens (NFTs)

Although cryptocurrencies are still largely unregulated (and their use as actual currency can be limited), there is a growing sense that a door has been opened to a vast number of new opportunities and technologies.