Bitcoin Price And Value Growth Story.
What is Bitcoin?
Bitcoin aka Digital Gold is an electronic form of money, founded in 2008 by one or more persons under the name Satoshi Nakamoto.
Satoshi is also said to have mined 1 million bitcoins.
Bitcoin is a decentralized, peer-to-peer payment service based on the blockchain network.
Bitcoin Price And Value Growth Story
The yearly price growth of bitcoin is shown in the table below.
|YEAR||PRICE (in USD)|
|2010||$0.0038 – $0.1|
|2014||~$500 – $750|
|2018||~$5000 – $7000|
In 2009, bitcoin had practically zero value.
Only cryptography users used to trade it here and there.
Bitcoin touched $0.0038 in 2010 when it was listed on bitcoinmarket.com (terminated).
The first real bitcoin transaction was also recorded in 2010. 10,000 BTC were used to buy 2 pizzas.
2010 ended with bitcoin reaching $0.1
Bitcoin quickly reached $1 at the start of the year.
It even reached $31 quickly followed by a drop to $2.
More than 1000 merchants had started accepting bitcoin by 2012.
Its price was very less volatile this year compared to others.
It also became a very controversial topic, many people started calling it a hoax that will soon fade.
The year ended with $13 per BTC.
In 2013, bitcoin saw an average daily growth of 10%!
It started listing on Coinbase and other major exchanges.
Coinbase reportedly sold over $1 million worth of bitcoins every single month of that year.
Bitcoin even crossed $1200 in 2013 but settled in the range of $800 – $1000.
2014 & 2015
Its price continued to fall throughout 2014 and 2015.
Its price still fell due to the rumors that cryptocurrencies are getting banned across several major countries.
But Microsoft also started accepting bitcoin for its software and games along with other major companies including Dell, Overstock.
By the end of 2015, more than 100,000 merchants/companies were accepting bitcoins.
While the price maintained its stability throughout the whole year, Bitfinex (bitcoin exchange) got hacked and 120,000 bitcoins were stolen.
2017 and onwards…
Since the start of the year, bitcoin has kept on surging towards new all-time highs every day.
It reached the record mark of $65,000 in 2021.
Ever since its inception, it has made new records and I think it is still the beginning.
While many cryptocurrencies followed its path, it still remains the KING OF ALL CRYPTOCURRENCIES.
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