72 Cryptocurrency Statistics Show Crypto’s Gone Mainstream

Cryptocurrency continues to become a more-commonly accepted asset by the day. Once relegated to futuristic sci-fi novels by the likes of Isaac Asimov, cryptocurrencies have become discussed and held by an increasingly diverse set of individuals. 

What is Cryptocurrency?

A cryptocurrency is a decentralized digital currency tracked and stored through a blockchain system. The currency, or token, grants a blockchain member specific network rights. 

Theoretically, no limit exists for the network rights which a blockchain can grant, but they generally fall into four categories: - Equity Tokens - Utility Tokens - Intrinsic Tokens - Asset-Backed Tokens

How are Cryptocurrencies Taxed?

Because the IRS treats cryptocurrency as a capital asset, you must track your basis in the currency and record it as a capital gain or loss at disposition. That means if you bought $100 worth of Bitcoin in January 2020 and sold it for $1,000 in February 2021, you will have a long-term capital gain of $900 ($1,000 sale price – $100 basis).

Cryptocurrency Market Statistics  (Growth Statistics)

1. Between 2012 and November 2021, Bitcoin has gained 311,914%

When first launched on Coinbase in 2012 for a price of $22 per USD for $1 million worth of the token, the currency quickly jumped over 311,000% in under a decade (at its all-time high of $68,543). 

2. The total cryptocurrency market cap is $2.79 trillion, or equivalent to the 8th largest economy globally

Given the major swings of cryptocurrencies and their dramatic rise in recent years, this statistic might become inaccurate in a day’s time. 

3. Bitcoin’s total market capitalization is $1.2 trillion

In November 2021, Bitcoin’s market capitalization rested above $1.2 trillion. Earlier in the year, it exceeded $1 trillion for the first time. Meaning, if you wanted to buy every Bitcoin in existence, you would need at least $1.2 trillion to purchase them all.

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