The cryptocurrency community recently took a trip down memory lane, reflecting on the early days of Bitcoin when Bitcoin historian Pete Rizzo published a chart showing the cryptocurrency's pricing exactly 14 years ago. On this day in 2010, you could buy 10 Bitcoin for $1.
The Beginning of Bitcoin
The chart showed Bitcoin’s price at a fraction of a cent, with $1 being enough to purchase over 10 BTC. Today, those same 10 BTC would be worth hundreds of thousands of dollars, highlighting the meteoric rise in BTC's price. Back in 2010, Bitcoin was a relatively unknown digital currency, having launched the year before and was primarily used by a small group of enthusiasts and early adopters.
Phenomenal Price Growth
From being worth mere cents to reaching all-time highs of nearly $74,000 this year, Bitcoin's price growth has been nothing short of extraordinary. What began as an idea for a decentralized currency has grown into a multi-trillion-dollar market, attracting investors, institutions and governments worldwide. Recent weeks have seen numerous reactivations of several ancient Bitcoin wallets, whose value has skyrocketed as the price of Bitcoin increased. Reportedly, a long-dormant Bitcoin wallet address was activated after 11.4 years. Back in 2013, the BTC stash was worth around $10,174. This has now skyrocketed to an astounding $3,274,741, representing a phenomenal 32,087% increase.
Current Metrics and Achievements
Bitcoin, the first and largest cryptocurrency by market capitalization, currently boasts a market capitalization of $1.2 trillion, with a market dominance of 55.7%. Global crypto market capitalization currently stands at $2.17 trillion, according to CoinMarketCap data. Bitcoin reached a new high of $73,798 in mid-March, boosted by wagers on looser U.S. monetary policy and inflows into U.S. exchange-traded funds. The surge has recently eased, as has the pace of ETF inflows. At the time of writing, Bitcoin was up 0.37% in the last 24 hours to $61,087.
Bitcoin's price history over the past 14 years serves as a reminder of its incredible growth and the innovations it has brought to financial markets.
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