Bitcoin has had a strong start to the decade, adding over 40% to its price so far this year—and taking its market capitalization to around $200 billion.
Bitcoin’s 180-day volatility dropped to its lowest mark since November 2018, reaching a 23-month low of 0.028 on Sunday, as the market was mostly unfazed by a week of unsettling news.
In the past, cryptocurrency mining operations, especially that of Bitcoin, have gotten a lot of flack for consuming jaw-dropping amounts of energy. Bitcoin alone consumes more energy each year than the entire country of Switzerland.
Entrepreneur and popular author Jeff Booth has predicted a grim future for fiat currencies, expecting them to fail as central banks keep printing money. Foreseeing an unavoidable, severe depression and banking failure, he believes bitcoin will become the world’s reserve currency and all national currencies will be pegged to it.
