Popular business publication Fortune once again dedicates its cover to the greatest innovation of all time: Bitcoin.
In its current issue, Fortune once again focuses on the popularity and growth of Bitcoin (BTC) and everything related to the frenzy caused by the digital industry. From the popular cryptocurrency to the coveted tokens NFT, to Blockchain and decentralized finance (DeFi), Fortune dedicated its cover and much of its current August-September issue to the world of cryptocurrencies and digital assets.
With the title “Crypto vs. Wall Street”, Fortune's edition is filled with various articles that want to explain how cryptocurrencies and decentralized finance protocols began to take over the financial system, leaving aside the exaggerated "mania" that was seen in their first years of development. With "mania", Fortune refers to the exaggerated euphoria that cryptocurrencies aroused in users, for example, with the launch of Initial Coin Offerings (ICO).
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Revolution for Wall Street and the financial system
For the publication, cryptocurrencies and digital assets have been advancing and consolidating their position over time. The arrival of important institutional investors and the world's largest banks is proof of this. Not only has the valuation of the crypto market increased, but also its digital infrastructure and user population. In fact, the Crypto.com company revealed that for the month of June the cryptocurrency population exceeded 220 million users globally, as Bit2Me News recently reported.
On the other hand, Fortune points out that although the growth of cryptocurrencies has not occurred in a straight line, as happens with every revolution, these digital assets and so-called decentralized finance are taking over Wall Street and could disrupt the financial system, in a similar way as open source software did in the technological world in general, he explained.
Fortune also highlights that cryptoassets have become the fastest, cheapest, most transparent and accessible way to carry out transactions and send value around the world, so the need for outsourced financial services could become redundant in the future.
A look at Bitcoin's past
When the magazine first talked about Bitcoin, in 2013, he highlighted the interest and positive perception that American entrepreneur, investor, blogger and writer Ben Horowitz, co-founder of venture capital firm Andreessen Horowitz, showed about Bitcoin. Then, in 2014, Fortune referred to the cryptocurrency as more than just a digital currency. At that time, the magazine described Bitcoin as a system and protocol that was motivating developers, programmers, and even businesses to build a new class of more effective and efficient financial services.
“These new services are based on the same innovative proof-of-work model of distributed security and ledgers that has kept the bitcoin currency secure as its value soared well beyond $10 billion.”, the magazine wrote in 2014.
The possibility of using Bitcoin's underlying technology, the blockchain, in the issuance of loans and stock tokens, and even in the creation of rental and purchase contracts, is also something that Fortune highlighted, pointing out the infinite potential of this technological innovation, which was just awakening at that time. Now, with DeFi, all this potential is beginning to manifest itself in all its splendor.
DeFi and NFTs at Fortune
The publication dedicated several articles to decentralized finance and the digital innovation of NFTs, which are leading towards a completely tokenized and digital world.
Regarding DeFi, Fortune mentions that these protocols are permeating everyone’s digital lives, leading to new frontiers in the financial world. Robert Hackett, a technology writer and editor at Fortune, wrote that DeFi “wants to change the way the world borrows, lends, and saves.”
Regarding NFTs, the magazine wrote the interview with CryptoKitties and NBA Top Shot founder Roham Gharegozlou banking on the proliferation and development of these tokens as a way to end the data monopolies that drive the success of Facebook, Amazon, Alphabet, and Apple. Fortune also described a list with the most influential personalities in the NFT world, with Bepple, the CryptoPunks, Mark Cuban and Roham Gharegozlou at the forefront of this innovation.
Growth of more than 1.300%
Fortune mentioned Bitcoin again in 2017, when the price of the cryptocurrency surpassed $3.000 per unit. However, a lot has happened in the last 4 years. Currently, Bitcoin is trading at a unit value of $40.700By mid-April, the price of this cryptocurrency broke its maximum ceiling, reaching $64.800 per unit.
The total capitalization of cryptocurrencies has also seen a fairly significant increase over the past 4 years. By 2017, the magazine highlighted that the crypto market had a total valuation of $135.000 billion; while, at the time of writing, the entire crypto market is worth over $XNUMX. 1,59 trillions of dollars.
One thing that hasn't changed in the last 4 years is that Bitcoin remains the industry-leading cryptocurrency.
Continue reading: Bitcoin increases in value and approaches $40.000 again
