- Bitcoin is becoming increasingly popular, having already been adopted as legal tender by El Salvador in 2021, and being bartered for incentives in other areas, such as Rio offering a 10% discount when taxes are paid in Bitcoin
- Instead of spending, some crypto owners (HODLers) are holding crypto in high-yield savings accounts, collecting up to 12% APY interest – benefiting despite the volatility of the coin
- LQwD has seen exponential growth since its completed acquisition in June 2021, with a current Bitcoin holding of almost 150 tokens
- Lightning Network has also grown significantly over the past year in terms of number of nodes, Bitcoin capacity and payment channels
Since the beginning of 2020, Bitcoin has appreciated in value by over 700%, helping hedge against inflation. While fiat currencies are printing more and more money to keep up with spending, Bitcoin is limited to 21 million BTC. Even with Bitcoin having a high value, it is possible to purchase partial amounts of the coin, as it is divisible by 1 million. Although considered rather volatile, Bitcoin is one currency that (in the long-term) could stand up against the inflation rates created by the mass production of other fiat currencies, like euros and the U.S. dollar (https://ibn.fm/yhrTb).
With the volatility of Bitcoin in question, some people who have purchased the coin have decided to do nothing with it except hold it. These people have been given the name HODLers, meaning they hold crypto, often choosing to…
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