Bloomberg reported that, if asked at the beginning of the year to a person, would they point out anything in common between a set of photos themed “Boredom Monkeys” and the US Constitution? The answer is definitely not. However, this time the answer is quite clear: Digital currency.
Cryptocurrencies have been around for a long time, but 2021 is the year the cryptocurrency world becomes bigger than ever, making the deepest impression. The process of “memeing” and normalizing crypto culture is happening at a rate that is baffling to detractors. Meanwhile, for those who have always believed in cryptocurrencies, they think that process is too slow. While attracting a large number of other famous backers, cryptocurrencies also captured the attention of Wall Street, even the US financial center became a force that could not be ignored. Finally, cryptocurrencies also attract regulators.
Insiders sometimes divide cryptocurrencies into different categories. There are coins (of which Bitcoin is still best known; the digital currency has even become legal tender in El Salvador) and tokens (including non-fungible ones – or NFT – has attracted the attention of various celebrities and artists from Martha Stewart to Paris Hilton).
Then there’s the technology known as blockchain, which acts as a tamper-proof ledger for storing and retrieving digital files. That leaves miners using huge computer “farms” to solve algorithms and find coins.
Bitcoin price fluctuates a lot compared to the beginning of the year.
Famous rugby midfielder Tom Brady has hinted at being a Bitcoin believer by changing his Twitter avatar to a photo with fiery red eyes, a visual feature shared by a fan. Another famous Bitcoin grave is Senator Cynthia Loomis, a Wyoming Republican. In June, Brady and his wife, Gisele Bündchen, acquired shares of FTX, a popular cryptocurrency company founded by Sam Bankman-Fried.
Brady also co-founded a company called Autograph, a platform for digital sports collections. These include NFTs, which are representations of assets on the blockchain. Offers include animated videos of gymnast Simone Biles jumping through the air and signature digital representations of Tiger Woods.
Sydney, May 17. A former investment banker with a TikTok name, Pablo Heman, has amassed more than 370,000 followers. He often posts videos like how to turn 1,000 USD into 1 million USD with cryptocurrency trading. (Photo: Bloomberg).
Probably the most famous NFT series is the series “Boring Monkeys”. These 107 NFTs were sold online at Sotheby’s Auction House for $24.4 million. This NFT set includes a series of cartoon monkeys. All are part of the series “Boring Ape Yacht Club”. This is part of 10,000 animated monkey films produced by the American company Yuga Labs. Each monkey NFT in this set sells today for a minimum of $200,000.
Possessing an NFT of one of these monkeys indicates that you belong to a unique group of celebrities whose members include both Snoop Dogg and Jimmy Fallon.
It is worth mentioning that monkeys are not the only animals popular in the cryptocurrency world. By 2021, dogs will be everywhere, too. The SHIB token launched last August as a joke, a joke about Dogecoin – which started as a parody based on a popular meme featuring Shiba Inu.
A single SHIB trades for around $0.000037, which means you can buy a million of them for less than $50. These “dog coins” have attracted considerable attention from retail investors, despite their volatility and intense uptrend based on cryptic tweets from Elon Musk.
More notably, the intersection of digital assets and the real world is not limited to animals or athletes. Even the US Constitution is not immune to digital disruption. Over the course of a week in November, a group of crypto investors raised $40 million to jointly auction a printed copy of the US Constitution at Sotheby’s.
However, the group of crypto investors lost the auction to billionaire hedge fund manager – a well-known Bitcoin skeptic, Ken Griffin. Perhaps the lesson of 2021 is that while crypto negotiates, fiat goes.
Barcelona, February 23. Bitcoin, the world’s largest digital currency, rallied to a record high before its recent drop. (Photo: Bloomberg).
New York, November 2nd. Vignesh Sundaresan, also known as MetaKovan, spent $69.3 million on an NFT earlier this year. Photo: Bloomberg.
San Salvador, El Salvador, September 15. The Latin American country has become the first to accept Bitcoin as a legal means of payment. Anti-government protesters fear that will bring instability and risk. Photo: Bloomberg
Nadvoitsy, Russia, March 18. Bitcoin mining consumes a lot of electricity. Photo: Bloomberg.
Safety Harbor, Florida, May 17. This year has seen the rise of thrill-seeking amateur traders, sought after by social media, and profited. Photo: Bloomberg
Washington, DC, July 22. Gary Gensler was sworn in as chairman of the SEC on April 17. He revealed that his deep interest in cryptocurrencies does not mean that it will be accompanied by heavy-handed scrutiny. Photo: Bloomberg
Miami, June 4. Billed as the largest Bitcoin event in the world, the two-day conference drew a crowd of over 12,000 attendees. Photo: Bloomberg
New Delhi, March 25. A medical worker takes a blood sample to demonstrate a smart Covid-19 test. The storage of medical data on the blockchain network in real time is done by the government of India. Photo: Bloomberg
Istanbul, November 8th. Bitcoin has succumbed to the risk anxiety sweeping through financial markets in the wake of the Covid-19 omicron variant. Photo: Bloomberg