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What Consortium is Bitcoin (Who Does Bitcoin Belong to?)

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Bitcoin is a consortium tied to other cryptocurrencies. In Bitcoin, a unit cons

What Consortium is Bitcoin (Who Does Bitcoin Belong to?)

Bitcoin is a consortium tied to other cryptocurrencies. In Bitcoin, a unit consists of a fixed number of wallet addresses and an acceptable issuance of data sources (such as exchanges). If someone provides all the data in a wallet to support the digital asset, they do not need to know who owns the account. Another scenario is that a member in Bitcoin controls these transaction information, so they transfer the funds to their own wallets. This means that when enough people participate, they will start using these messages for transfers or payments, which will then be sent by the recipient and the corresponding amount will be given in proportion.

Who Does Bitcoin Belong to?

Editor’s note: This article is from Coin Cloud Blockchain (ID: cybtc_com), Author: irishash, authorized for reprinting by Odaily Planet Daily.

Who manipulates Bitcoin? Who controls it? The answer is those who want to buy it, as they own a portion of these wallets themselves.

According to CoinDesk, on March 17, 2019, Bitfinex’s CEO announced that he holds approximately $400 million worth of BTC (equivalent to $1 billion). According to CoinMarketCap data, by the end of 2019, this figure had grown to $200 million. In addition, the total holdings on Bitfinex amounted to $1.5 billion.

However, since the beginning of 2017, the price of Bitcoin has been continuously rising, and there has been another surge in recent weeks, surpassing the $500 million mark. Since the end of 2017, the price of Bitcoin has been hovering around $12,000. The lowest point in 2018 occurred between mid-January 2020 and early June. By the end of the first quarter of 2021, it even reached over $13,500. This indicates that the market’s interest in this cryptocurrency is increasing, but investors are unwilling to do so. Since the beginning of 2019, as the price of Bitcoin began to rebound, people’s attitudes towards crypto assets have also changed, especially with the participation of institutional players, making this field more important. However, in November last year, a big player named Michael Saylor said that he is now buying more Bitcoin to prepare for the next bull market.

In fact, as early as 2013, many people have invested their funds in Bitcoin, including senior investors such as Goldman Sachs, Morgan Stanley, former Citigroup CEO Jamie Dimon, and BlackRock CTO Peter Hosniel. Although both of them have stated that they are “not worried,” in the past few months, they have transferred a large amount of funds into Bitcoin because the value of Bitcoin is considered a bubble. “Do you know?” When someone tries to push Bitcoin up in a way that is very close to gold, this approach becomes a problem: “I believe you won’t make changes so quickly, but I can’t predict it.” The story behind Bitcoin is also related to another Twitter user, @rbc0x, who expressed similar thoughts on social media:

“If you look at the performance of Bitcoin today, you will find that Bitcoin does have a huge increase… Of course, this is not sustainable because we don’t know how Bitcoin will ultimately operate,” he said. “So I’m not sure if you will sell anything in the short term.” However, this anonymous individual also emphasized that even in the current situation, if Bitcoin really exists like gold, its volatility is quite large.

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