U.Today – The cryptocurrency community recently took a trip down memory lane, reminiscing about the early days when Bitcoin historian Pete Rizzo published a chart showing the price of the cryptocurrency exactly 14 years ago. On this day in 2010, you could buy 10 Bitcoins for $1.
The chart showed the price of Bitcoin at a fraction of a cent, where $1 was enough to buy more than 10 BTC. Today, that same 10 BTC would be worth hundreds of thousands of dollars, underscoring the meteoric rise in the price of BTC.
In 2010, Bitcoin was a relatively unknown digital currency. It had been launched a year earlier and was primarily used by a petite group of enthusiasts and early adopters.
From a value of just a few cents to reaching record highs of almost $74,000 this year, Bitcoin’s price rise has been nothing miniature of extraordinary. What started as an idea for a decentralized currency has grown into a multi-trillion dollar market, attracting investors, institutions, and governments around the world.
In recent weeks, there have been numerous reactivations of senior Bitcoin wallets, whose value has increased dramatically as the price of Bitcoin has risen.
As reported today, a long-dormant Bitcoin wallet address has been activated after 11.4 years. In 2013, the BTC stash was worth around $10,174. Now, that value has skyrocketed to an astonishing $3,274,741, a phenomenal escalate of 32,087%.
A $1.2 trillion market
Bitcoin, the first and largest cryptocurrency by market capitalization, currently boasts a market capitalization of $1.2 trillion and a market dominance of 55.7%. According to CoinMarketCap, the global cryptocurrency market capitalization is currently $2.17 trillion.
Bitcoin hit a recent high of $73,798 in mid-March, boosted by bets on looser U.S. monetary policy and inflows into U.S. ETFs. That rally has recently slowed, as has the pace of ETF inflows.
At the time of writing, Bitcoin price is up 0.37% in the last 24 hours to $61,087.
