Bitcoin’s Big October: Why Wealth, Exchange Movement and Self-Management Are the Future | Billy Campbell | October 2024

In one of this month’s unexpected twists, an HBO documentary has sparked speculation that cryptographer Peter Todd could be the elusive Satoshi Nakamoto. For those of you who are new to Bitcoin knowledge, Satoshi Nakamoto is the pseudonym of the creator of Bitcoin. He disappeared from public life after laying the foundation for what would become the world’s leading cryptocurrency.

Peter Todd, who has long been an influential voice in the Bitcoin development community, appeared in the documentary, leading some to wonder if he could be the man behind Bitcoin. Todd himself has denied these claims, and much of the cryptocurrency community remains skeptical. But it’s always fun to imagine who might actually be behind the curtain.

Whether it’s Todd, Hal Finney, or someone else, the mystery of Satoshi Nakamoto is one of the things that makes Bitcoin’s origin story so compelling. But no matter how much we speculate about the past, there’s no denying that Bitcoin’s future will be just as exciting, especially considering recent developments.

There was a big move in Bitcoin in October. Prices ranged from a low of $58,957 to a high of $68,286. This is the volatility that continues to make traders and investors nervous. But what’s behind these sharp movements?

The biggest part of the story is changing market sentiment. Throughout the month, the Fear and Greed Index, a key indicator of market sentiment, hovered around 49, indicating cautious optimism. But by mid-October, the figure hit highs in the 70s, signaling a shift toward “greed” as investors looked for further profits. This speaks to growing confidence that Bitcoin, while still volatile, still has upside.

For long-term Bitcoin holders, this volatility is nothing new. But as institutional interest heats up, Bitcoin’s future looks stronger than ever.

One of the most exciting developments in the world of Bitcoin is the growing interest from institutional investors. to Bitcoin Amsterdam 2024Industry experts, including BlackRock’s Larry Fink, have made bold predictions about Bitcoin’s future, with many predicting the decade ahead.

Currently, less than 1% of global wealth is invested in Bitcoin. However, that number is expected to grow as traditional financial institutions begin to view Bitcoin as a legitimate store of value rather than a speculative asset. The shift has been prompted by concerns about inflation and the desire for assets that provide a hedge against economic instability.

The potential for widespread Bitcoin adoption has led some to speculate about Hyperbitcoinization, where Bitcoin could become the world’s dominant form of currency. Although there is still a long way to go, the fact that large institutions are now buying Bitcoin shows that Bitcoin is no longer just a playground for early adopters and retail investors. The big players are here and will continue to be here.

One of the biggest trends we are seeing is the shift toward self-custody. Since February, more than $31 billion in Bitcoin has left exchanges. Why does this happen?

The answer is simple. It’s security. More investors are realizing that holding their assets on exchanges leaves them vulnerable to hacks, regulatory issues and the potential for loss of control. By moving your Bitcoin to a self-storage solution, such as a hardware wallet, you ensure that your private keys (and your cryptocurrency) remain safe and under your complete control.

This move is important because it reduces overall selling pressure on Bitcoin. When coins are moved into self-storage, they are effectively removed from the market, which strengthens Bitcoin’s long-term value proposition as a store of value. As more people transition into self-custody, markets become less responsive to short-term fluctuations and external risks, such as exchange hacks or government intervention.

If you want to join the ranks of these smart investors, consider using a hardware wallet like Trezor. This is the safest and most reliable way to store Bitcoin without relying on third-party platforms.

For beginners, Treasure Safe 3 It offers simple, secure storage with PIN protection and easy-to-use features, making it perfect for anyone new to self-care. If you’re looking for something a little more advanced, Treasure Safe 5 It offers enhanced security with a smooth color touchscreen and haptic feedback for smooth cryptocurrency management.

Beyond its role as a financial asset, Bitcoin is steadily making inroads into everyday transactions, particularly the travel industry. More travel companies are now accepting Bitcoin for bookings and allowing cryptocurrency holders to spend their assets on flights, hotels and vacation packages.

This trend world tourism dayPlatforms like Travala have reported a 46% increase in cryptocurrency payments over the past year. As more people begin to view Bitcoin as a consumable currency rather than just a speculative investment, real-world use cases will continue to grow.

The fact that you can now book holidays with Bitcoin reflects Bitcoin’s growing integration into global commerce. Although it is still early days for mainstream adoption, these developments are a sign that Bitcoin is more than just digital gold. Additionally, Bitcoin is becoming a viable medium of exchange for the modern traveler.

In what may be one of the strangest Bitcoin stories in recent memory, a man named James Howells sued Newport City Council for $647 million after refusing to allow a hard drive containing 8,000 Bitcoins to be searched at a landfill site. They’re filing a lawsuit. Buried since 2013, the hard drive is now worth more than $500 million.

Despite giving Congress 10% of the recovered bitcoins, Howells’ retrieval attempts were blocked due to environmental concerns. The city council is sticking to its existing position and the legal battle continues. This story is not just a bizarre anecdote. It’s also a cautionary tale about the importance of backing up your keys and keeping them safe.

For anyone managing significant amounts of Bitcoin, this case highlights why secure storage solutions like hardware wallets are important. If you lose access to your private keys, you could lose your entire fortune. Few people can relate to the loss of millions of dollars, but the lesson is the same. You should always take security seriously.

At Trezor, we’re always looking for easier and more secure ways for users to manage their cryptocurrency. That’s why we’re excited to announce several major updates:

1. Introduction to Trezor Suite’s smart trading engine

that smart trading engine It is one of the latest features designed to make buying, selling, and exchanging cryptocurrencies more convenient. This tool compares multiple offers across different platforms and criteria to help you find the best deal for your needs, whether you are looking for a specific price, payment method, or currency option. And the best part? All transactions take place directly through the safety of your Trezor hardware wallet.

Whether you’re a seasoned trader or just starting out, this feature simplifies the process and ensures you get the most value from every trade.

2. Price reduction for Trezor Model One and Model T

We’ve also reduced the prices of two of our most popular hardware wallets. that Treasure Model 1 Now down from $59 to $49, it’s the perfect choice for beginners looking to improve their cryptocurrency security. For those who want a more premium experience, Treasure Model T Featuring a stylish color touchscreen, the price has been reduced to $129 (was $149).

Whether you’re just starting your cryptocurrency journey, looking to upgrade your setup, or give yourself a gift that keeps on giving, it’s the perfect time to invest in a hardware wallet.

October showed that Bitcoin’s role in the world is becoming stronger. From institutional investors making big bets on the future to ordinary people self-managing their assets, the landscape is evolving rapidly. And as Bitcoin continues to make inroads into everyday commerce, whether through travel bookings or other real-world transactions, its potential is becoming more evident.

As we head into November, with the US presidential election just around the corner, it’s no exaggeration to say that we haven’t seen the last of Bitcoin’s surprises. But no matter what happens in the short term, one thing is clear. Bitcoin will continue to exist.

Keep building, stay informed, and most importantly, stay secure.

Treasure Team