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CoinDesk Report Looks at 2021 Market Performance of Bitcoin, Etherium

CoinDesk Report Looks at 2021 Market Performance of Bitcoin, Etherium - top government contractors - best government contracting event

A CoinDesk Research report says Bitcoin and Etherium outperformed traditional macroeconomic assets in 2021 by gaining 60 percent and 407 percent, respectively.

George Kaloudis and Edward Oosterbaan of CoinDesk noted in a blog published Thursday that bitcoin, which eclipsed the market capitalization of $1 trillion the previous year, saw a key technological upgrade to its protocol in 2021 through Taproot, a package of three upgrades meant to improve network security, scalability and privacy.

Coindesk’s 2021 Annual Crypto Review also showed that Bitcoin dominance dropped to 40.1 percent in 2021, compared with 70.2 percent the prior year.

In September, the government of El Salvador adopted Bitcoin as legal tender following the passage of a law, resulting in multiple purchases of the cryptocurrency by the government.

The report attributed Ether’s strong market performance in 2021 to the EIP 1559 proposal, the impending shift to proof-of-stake and the prevalence of non-fungible tokens.

POC - Digital Currency and National Security Forum

On Jan. 27, the Potomac Officers Club will bring together distinguished government and industry leaders to discuss the national security aspect of digital currencies. National Cyber Director Chris Inglis will deliver the keynote speech at POC’s Digital Currency and National Security Forum. Click here to register for the upcoming event.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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