Fourteen years in the past immediately, Bitcoin, the world’s first cryptocurrency, was final traded on the humble value of 1 cent.
In line with Bitcoin historian Pete Rizzo, on today 14 years in the past, Bitcoin was traded at one cent, a value that appears nearly unimaginable immediately. This milestone marks a major second within the historical past of digital currencies, highlighting the spectacular journey Bitcoin has taken from its early days.
FUN FACT: 14 years in the past immediately, you had your final probability to purchase #Bitcoin for $0.01 ✨ pic.twitter.com/XP6vIe6jk6
— The Bitcoin Historian (@pete_rizzo_) October 8, 2024
This milestone marked one of many first instances Bitcoin reached a value that started to mirror its rising worth. On the time, few might have predicted the meteoric rise BTC would ultimately expertise, remodeling from an obscure digital foreign money.
Created by the mysterious, pseudonymous determine Satoshi Nakamoto, Bitcoin was initially traded on non-public boards between early adopters, miners and fans. At the moment, Bitcoin was nonetheless a distinct segment mission, identified solely to a small group of fans and early adopters.
Within the years for the reason that historic one-cent milestone, Bitcoin’s value has skyrocketed, reaching an all-time excessive of about $74,000 in mid-March this 12 months.
Bitcoin value motion
On the time of writing, BTC was down 0.70% within the final 24 hours to $62,527. Bitcoin fell to a low of $61,976 in early buying and selling immediately, after briefly reaching a excessive of $64,467 on Monday, wiping away practically all of its beneficial properties from the previous seven days.
Shifting ahead, cryptocurrency merchants wish to Federal Reserve conferences later this week for clues on additional positioning. The fed is scheduled to reveal FOMC minutes in addition to essential financial knowledge from August that present development.
Whale or giant holder habits available on the market can be being monitored. In line with CryptoQuant CEO Ki Younger Ju, Bitcoin whales appear to be experiencing a generational shift. New whales have invested $108 billion, whereas older whales have invested $113 billion since Bitcoin’s inception. “The ratio is now 48:51,” Ju said.
