Every day that passes is a day that Bitcoin grows. And we don’t just mean the price. More eyes are on Bitcoin and more people are aware of its inevitability. Users grow, services grow, miners grow, developments grow. All its gears are articulated day after day making it more robust, more unstoppable, making it better.
Already several weeks ago we had news of the introduction of Taproot in the Bitcoin code. Although this already implied that the developers, after long debates, criticisms and modifications, had agreed on the definitive nature of this version, it was not until this week that various mining pools were organized to express their agreement with the activation of this proposal improvement that brings benefits in terms of privacy, scalability and flexibility in development.
Less than a week after the initiative was organized by Poolin, more than 56% of the total Bitcoin hashrate has communicated that it will integrate this update to its nodes, an essential step for the launch of Taproot. This is because, in order to process the new type of transactions, they need to adapt their systems to the new code. Now, It is necessary to agree on the activation method.
Bitcoin at all-time highs
Meanwhile, the rally in the price of Bitcoin continues. This week, the marks of 16,000, 17,000 and 18,000 dollars were surpassed, with more and more capital flow entering by institutional players with very long-term investment horizons. This provides price support that suggests greater price stability over past bull markets.
Despite the fact that even the barrier of $ 20,000, the highest historical price of Bitcoin, has not been surpassed, the price of the cryptocurrency in several Latin American currencies already exceeds the levels registered in 2017. Brazil, Colombia, Chile and, Of course, Argentina and Venezuela show the devaluation of their national currencies when compared to Bitcoin.
With the evidence of this growth, the quest to establish a regulatory framework for cryptocurrency operations is also advancing. From Argentina, almost at the same time, two bills were proposed that seek to regulate this space. However, these proposals have not gone without controversy in the community.
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