- Bitcoin celebrates its 13th birthday; the cryptocurrency has changed the way the world works
- Back then, the token was worth less than $0.01; now, it’s over $60,000 and it keeps going
Bitcoin is Now 13 Years Old
Bitcoin, the original cryptocurrency celebrated its 13th birthday on Oct. 31. The grand milestone arrives after years of technological developments, waves of mainstream adoption, and extreme price swings.
In detail, on October 31st, 2008, a pseudonymous person or group known as Satoshi Nakamoto released the Bitcoin white paper. The paper describes a never-before-seen blockchain technology enabling decentralized, safe and secure peer-to-peer payments.
Back then, the price of bitcoin was worth less than $0.01 when the Bitcoin network went live in early January, 2009. In other words, a dollar would get you 100 Bitcoins.
The Bitcoin Idea Has Changed the World
Fast forward to today, the Bitcoin idea has changed the world as we know it. The cryptocurrency market is now commanding a market capitalization of over $2.5 trillion. Of that, the original digital currency boasts a hefty $1.2 trillion, or about half of the entire market value.
Bitcoin’s journey so far has been anything but flat. Its appeal has been acknowledged by both retail traders and large-scale investment giants on Wall Street. Its price has skyrocketed, resulting in phenomenal returns over the years.
A Multi-Million Dollar Pizza
The way forward also includes what would perhaps remain in history as the most expensive pizza purchase ever. More precisely, in 2010, a developer named Laszlo Hanyecz paid 10,000 Bitcoins “for a couple of pizzas”.
Furthermore, the price of bitcoin logged a new all-time high in October as it topped $67,000 per coin. Also, October marks the first month in which bitcoin closes above $60,000.
Outlook for Adoption Remains Bright
While initially bitcoin was perceived as a threat, or scam, the world has warmed up to the idea of a decentralized digital currency. On that note, analysts point the broad-based adoption of bitcoin is on an upward trajectory and moving steadily.
With this in mind, make sure to check our Buy Bitcoin guide. In it, you’ll learn how easy it is to become a crypto holder today.