Cryptocurrencies are virtual currencies that are used as a medium of exchange and are not regulated by a centralized authority. In November 2021, the value of the virtual currencies **wrapped bitcoin** and **bitcoin** exceeded the threshold of **60,000 US dollars**, that is, **14 times more than the price of ethereum* *². However, in 2023, there has been a sharp decline in its value ¹. Despite the hegemony of bitcoin, ethereum is considered its main rival in the market ¹. So much so that the wrapped bitcoin has been designed as a token that facilitates the migration of value from bitcoin to the DeFi ecosystem of ethereum².
In short, cryptocurrencies are a highly volatile form of investment and are not recognized as an official means of payment in most countries². If you are interested in investing in cryptocurrencies, it is important that you do extensive research and consult a financial advisor before making any decisions.
