Introduction
The Bitmap Theory initiative has quickly gained momentum since its launch last summer. Its primary objective is to integrate a digital realm known as the metaverse into the Bitcoin blockchain. By utilizing innovative Ordinal inscription technology, Bitmap allows individuals to claim ownership of segments of the Bitcoin blockchain. Currently, Bitmap has a market capitalization of approximately $235 million, experiencing a significant increase of over 5,500% in the last two months.
Bitcoin's New Frontier – Bitmap Theory in the Crypto Space
In the dynamic world of non-fungible token (NFT) markets, Bitmap stands as a strong contender on Magic Eden, ranking second only to the Bitcoin Frogs series in terms of trading volume. Over the past week, the Bitmap collection has seen trades worth approximately 125.27 BTC or $5.48 million. The latest 24-hour trading volume stands at around $34,370, according to data from coingecko.com.
Currently, Bitmap holds a floor value of approximately 0.00680 BTC or $296.71. Its market valuation has soared to $235 million, even reaching over $300 million as recently as December 21, 2023. Bitmap Theory, conceived by the user Blockamoto, is an innovative open-source standard still in its early stages. Its vision is to transform Bitcoin blocks into integral parts of the metaverse.
Pioneering Bitcoin Metaverse with Bitmap Theory
Bitmap Theory allows participants to claim and inscribe ownership of Bitcoin blocks through Ordinals and Bitmap, heralding a decentralized method of embedding these blocks into a digital universe. Although still in its early phases, supporters of Bitmap believe it embodies a pioneering strategy to leverage Bitcoin's framework for a prospective 'Bitcoin Metaverse'.
Furthermore, an initiative called Bitearth has recently unveiled its mission to create "immutable augmented reality for Bitmap," ensuring that every Bitmap owner possesses a designated slice of the earth. The website bitearth.io links these pieces to a map and incorporates 3D Bitcoin-orange structures. Essentially, Bitmap serves as a Bitcoin-centric counterpart to platforms like Sandbox and Decentraland, with enthusiasts asserting its potential to rival or even surpass these giants.
Bitmap's Crossroads: Innovation and Speculation
As Bitmap carves its niche in the metaverse with a market capitalization of $235 million, it finds itself at the crossroads of innovation and speculation. While its rapid growth and pioneering technology suggest a promising future, the volatile nature of digital realms and evolving blockchain landscapes leave its destiny intriguingly uncertain. This uncertainty beckons observers with a theoretical yet potentially revolutionary horizon.
What are your thoughts on Bitmap? Share your opinions and insights about this subject in the comments section below.
Frequently Asked Questions
How Much of Your IRA Should Be Made Up Of Precious Metals
You should remember that precious metals are not only for the wealthy. They don't require you to be wealthy to invest in them. You can actually make money without spending a lot on gold or silver investments.
You may consider buying physical coins such as bullion bars or rounds. You could also buy shares in companies that produce precious metals. Or, you might want to take advantage of an IRA rollover program offered by your retirement plan provider.
You can still get benefits from precious metals regardless of what choice you make. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
And, unlike traditional investments, their prices tend to rise over time. If you decide to make a sale of your investment in the future, you will likely realize more profit than with traditional investments.
Can I buy gold using my self-directed IRA
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. You can also transfer funds from another retirement account if you already have one.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals can contribute up $1,000 per annum ($2,000 if they are married and jointly) directly to a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts are financial instruments that are based on gold's price. They let you speculate on future price without having to own the metal. However, physical bullion is real gold or silver bars you can hold in your hands.
Is it a good retirement strategy to buy gold?
While buying gold as an investment may seem unattractive at first glance it becomes worth the effort when you consider how much gold is consumed worldwide each year.
Physical bullion is the most popular method of investing in gold. But there are many other options for investing in gold. You should research all options thoroughly before making a decision on which option you prefer.
If you don’t need a safe place for your wealth, then buying shares of mining companies or companies that extract it might be a better alternative. If you are looking for cash flow from your investment, buying gold stocks will work well.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs may include stocks that are owned by gold miners or precious metals refining companies as well as commodity trading firms.
How much should you have of gold in your portfolio
The amount that you want to invest will dictate how much money it takes. A small investment of $5k-10k would be a great option if you are looking to start small. You could then rent out desks and office space as your business grows. This way, you don't have to worry about paying rent all at once. Rent is only paid per month.
You also need to consider what type of business you will run. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. Consider how much you expect to make from each client, if you decide to do this kinda thing.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. This means that you may only be paid once every six months.
You need to determine what kind or income you want before you decide how much of it you will need.
I suggest starting with $1k-2k gold and building from there.
What does gold do as an investment?
Supply and demand determine the gold price. Interest rates are also a factor.
Due to their limited supply, gold prices fluctuate. Additionally, physical gold can be volatile because it must be stored somewhere.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
forbes.com
finance.yahoo.com
irs.gov
law.cornell.edu
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement accounts
How To
Tips for Investing Gold
Investing in Gold remains one of the most preferred investment strategies. Because investing in gold has many benefits. There are several ways to invest in gold. Some people prefer to buy gold coins in physical form, while others prefer to invest in gold ETFs.
Before buying any kind of gold, you need to consider these things.
- First, verify that your country permits gold ownership. If you have permission to possess gold in your country, you can then proceed. Or, you might consider buying gold overseas.
- Second, it is important to know which type of gold coin you are looking for. You can go for yellow gold, white gold, rose gold, etc.
- Thirdly, you should take into consideration the price of gold. Start small and build up. Diversifying your portfolio is a key thing to remember when purchasing gold. Diversify your investments in stocks, bonds or real estate.
- Lastly, you should never forget that gold prices change frequently. It is important to stay up-to-date with the latest trends.
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By: Jamie Redman
Title: Bitmap Theory: Revolutionizing the Bitcoin Metaverse with a $235 Million Valuation
Sourced From: news.bitcoin.com/bitmap-theorys-meteoric-rise-pioneering-a-bitcoin-metaverse-with-a-235-million-valuation/
Published Date: Fri, 22 Dec 2023 15:30:16 +0000
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