Technology

Why are crypto assets important in a divorce proceeding?

The first decentralized digital currency Bitcoin was first released in 2009, and it has now been 13 years since then. Over the years, crypto assets have gained enormous popularity and are now widely recognized as one of the investment vehicles and payment methods despite its volatile nature. This can be seen from the price of Bitcoin in the past year. In the first half of 2021, the price of Bitcoin soared to an all-time high of over US$64,000, and then quickly fell back to less than US$30,000 in summer. Despite this, some people predict that Bitcoin will reach US$100,000 by 2023. The advantage of investing in cryptocurrency is that as it is decentralized without going through any intermediaries, and because of its nature of anonymity, it provides investors with a more secure, equal, non-judgmental, anonymous and non-discriminatory environment, while protecting their identities. Even though there is a public ledger called Blockchain recording all the transactions, it is still difficult to trace it back to the owner without the private key. Of course, investing in crypto assets is not without its risks. It is highly volatile and susceptible to hacking, theft, error and being used as a means for money laundering. Because it is largely unregulated, it might be difficult to track down and recover any stolen funds. Despite this, the cryptocurrency market is still growing, and it has the potential to continue to grow in the future.

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