1.4. The Birth of the Crypto Industry

Bitcoin, the first cryptocurrency, has radically transformed the perception of finance. It emerged in 2009, in the wake of the 2008 mortgage crisis, as a response to the failures of the traditional financial system. The crisis, caused by the greed and irresponsibility of big banks, resulted in the American elite not only escaping responsibility, but also enriching themselves through government bailouts programs.

Once again, the entire cost of rescuing the US economy fell on the shoulders of honest taxpayers.

While most large banks seek security by investing in low-yield bonds, earning just a few percentage points, innovators and venture capitalists who believed in Bitcoin’s vision have seen returns measured in tens of thousands of percent. Those who recognized Bitcoin’s potential in its early stages were able to generate significant wealth.

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Key Factors Behind Bitcoin’s Popularity:

• Decentralization: The system operates without a central governing authority, ensuring its resilience and independence.

• Cryptographic Security: Advanced encryption methods significantly enhance network security, making it resistant to attacks.

• Transaction Transparency and Anonymity: All operations on the blockchain are publicly verifiable, while users maintain their anonymity.

• Limited Supply: A fixed total supply of 21 million coins creates scarcity, which contributes to the asset’s increasing value.

Bitcoin’s original mission was to establish a decentralized payment system with the possibility of anonymous transactions. However, over time, Bitcoin has been increasingly recognized as a "store of value".

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Nevertheless, Bitcoin has its drawbacks, which hinder its use as a means of capital accumulation and long-term preservation of monetary value.