A new way to play with Bitcoin: Selling peripheral sweaters is more profitable than mining!

Cryptocurrency has become a hot topic and has become a hot topic for everyone. A US clothing company also smelled business opportunities and was inspired to follow the trend in 2017 and sell sweaters embroidered with Bitcoin and Ethereum patterns. This has made cryptocurrency fans very happy.

Sweaters with cryptocurrency graphics are launched

A store called Hodlmoon has launched sweaters with cryptocurrency graphics, priced at $59 per piece. The sweaters are printed with the logos of popular cryptocurrencies, and buyers can find sweaters embroidered with Bitcoin, Ethereum, and Litecoin. After launching this trendy sweater with digital currency graphics in October 2017, Hodlmoon sold more than 2,000 pieces of this type of clothing and generated about $200,000 in revenue in 2017. Two weeks before Christmas 2017, this type of clothing was completely sold out. After the photo of this cool clothing was uploaded to Twitter, someone specifically interviewed the designer of this type of sweater, wanting to communicate with the designer further.

                                Image source: Internet

The designer, Zach Cohen, said he invested $100 in Bitcoin in 2013, and then made a profit as the price of Bitcoin soared . Zach Cohen knows that people nowadays love to follow fashion, and many people also love Bitcoin like him. So he came up with the idea of ​​designing this sweater. Why is Bitcoin so popular? Like gold, the supply of Bitcoin is limited. Because there are only 21 million Bitcoins. A large part of the reason why people love to buy Bitcoin is also related to the scarcity of things.

Zach Cohen said that in the summer of 2017, Bitcoin could rise by hundreds of dollars in a day. Then, Bitcoin was like a drama queen. Through the publicity of mainstream media and the Internet, it successfully put the spotlight on itself, making almost all people in countries around the world know the existence of Bitcoin. And they also know that by investing in this virtual currency, they can have the possibility of becoming rich overnight. Driven by this psychological factor, people started a crazy buying mode around Bitcoin, causing its price to soar like a rocket. Zach Cohen smelled a business opportunity, and the sweater with cryptocurrency pattern was born.

Only 4 million of the 21 million coins have yet to be mined

Data from Blockchain.info shows that the 17 millionth bitcoin was "mined" on Thursday. According to the design of the cryptocurrency's anonymous founder Satoshi Nakamoto, by 2140, no new bitcoins will be produced and the number of bitcoins in circulation will always be slightly less than 21 million.

Image source: Internet

This means that there are only 4 million bitcoins left in the world that have not been mined. Bitcoin investor Ansel Lindner believes that scarcity has pushed the price of Bitcoin to a new high this year. He predicts that the price of a single bitcoin will reach $19,000 in December this year.

The first batch of Bitcoins were mined in January 2009. According to Blockchain.info data, it took about 200 days to mine the first 1 million coins. The number of Bitcoins exceeded 16 million in November 2016. The remaining 4 million coins are not expected to be mined for the next 122 years.

New York cryptocurrency exchange receives $10 million in investment

SBI Holdings, the venture capital arm of Japanese financial giant SBI Group, has added a new company to its cryptocurrency portfolio: token trading platform Templum.

New York-based cryptocurrency exchange Templum announced that it has raised $10 million in new funding from SBI, following a $2.7 million funding round in October last year from investors including Raptor Group, Galaxy Investment Partners, firstminute.capital, and Blockchain Capital.

At this stage, Templum is building a trading platform that complies with regulatory requirements to provide services for the sale and trading of digital assets and securities. According to Templum, they plan to use this latest financing to further develop their services and trading platform.