How did Bitcoin get here?
“New York City Mayor-Elect Eric Adams Will Take First 3 Paychecks in Bitcoin, Promises to Make NYC Center of Crypto” — Bitcoin.com
“Australia Approves Long-Awaited Spot Bitcoin ETF” — Investopedia
“Draft Bill Seeks To Allow Brazilian Workers to Be Paid in Bitcoin”. — Nasdaq
“Bitcoin Prices Hit Fresh, All-Time High Above $66,000” — Forbes
Actually, the real figure is $66,974.77, and not just $66,000.
At this point, Bitcoin’s price has more than doubled in 2021. Starting the year out below $29,000, Bitcoin has gone from becoming the world’s most prominent digital currency to hitting a new all-time high record price of $66,974.77.
As of the time of writing this, Bitcoin’s price was at $60,544.61 with a 24-hour trading volume of $29,458,519,450.
What did it take for Bitcoin to reach this milestone?
Bitcoins were basically non-existent in 2010, only worth $0.60 each, and by 2011 they were worth nearly $3.00 each. The value of bitcoins went into hyperbolic growth in 2013–you could say people were definitely into that coin (pun intended).
At the beginning of 2013, Bitcoin was trading for under $20. Then it really began taking off in November 2013 when it traded for almost $1,000. By November 2017, the price of Bitcoin went over the $6,000 mark.
One of the biggest factors was the activation of Segregated Witness (SegWit) on August 24, 2017.
All eyes are on Bitcoin as the flagship cryptocurrency’s price continues to surge.
Bitcoin has been called “the new gold” of the digital age, and is expected to be adopted not just by cypherpunks, but even by Wall Street! It was created as an alternative to the current financial system.
Nakamoto’s motivation? Well, he thought it would be cool to have a digital currency because if you didn’t trust people for anything, you could still trust mathematics. That’s how he explained it.
When Satoshi Nakamoto published the Bitcoin protocol in 2008, the goal was to create an open-source currency that could be freely used and transferred electronically.
Bitcoin was created to give people more financial freedom.
If you read the mainstream media, you may think that Bitcoin is dying. But in reality, Bitcoin continues to go from strength to strength, and it’s currently trading at over $60,544.61 each.
Through the ups and downs, Bitcoin has proven that it’s here to stay. It’s no wonder that it took the world by storm. The rapid climb in value was helped by not only increased interest but also increased exchanges and usage of the currency.
Bitcoin was an obscure open-source project in 2010, but with the help of social media, alternative currencies are beginning to be more appreciated.
It’s one of the biggest success stories of our generation and you can capitalize on its latest wave of growth.
Join our growing community to enjoy the benefits of an amazing platform.