When Bitcoin was invited and first premiered in 2010, it’s individual value was less than one cent. Today, a single Bitcoin is worth $2,600. No wonder there are more and more cryptocurrencies coming online.
Ethereum, released just two years ago, has a current value of $20 billion coins in circulation. Ripple, known as XRP, has been around for five years now has increased in value over 3000% this year, according to Business Insider. And there are literally hundreds of other, smaller, lower-value cryptocurrency coins available.
And it seems that millennials, who are perhaps reacting to an untrustable market since 2008’s crash, are opting to invest in cryptocurrency over mutual funds or the stock market. And why not? After all, if you had bought just $100 in BitCoin seven years ago, you’d now have $260,000. If you had purchased $100 of Ethereum in January of this year, you’d now be able to sell for nearly $3,000.
Even Bill Gates supports BitCoin!
So, why not? Why not invest?
Well, there have been some substantial crashes within the BitCoin market. And recently, Ethereum took a dive after false rumors of its founder’s death in a car crash. He’s alive and well.
In China, there’s yet another leader of the cryptocurrency market: Neo, as reported in Inc.
We all know how NYC Coworking Spaces can act like incubators for all sorts of brilliant ideas, ranging from cryptocurrency to transportation solutions, and everything in between. Here at Workville, we aim to support innovation not only through providing professional workspace across two floors but also through our hospitality and network. Every day we have VCs meeting with members, new companies staffing up, and now larger, private office suites for our growing cohort of startups.