U.Today – The cryptocurrency community recently took a trip down memory lane, reflecting on the early days of Bitcoin, when Bitcoin historian Pete Rizzo posted a chart showing the price of the cryptocurrency exactly 14 years ago. On this day in 2010, 10 Bitcoin could be purchased for $1.
The chart showed the price of Bitcoin to within a fraction of a cent, with $1 being enough to buy over 10 BTC. Today, those same 10 BTC would be worth hundreds of thousands of dollars, highlighting the meteoric rise in BTC price.
In 2010, Bitcoin was a relatively unknown digital currency, having been launched the previous year and used primarily by a small group of enthusiasts and early adopters.
From being worth just a few cents to reaching all-time highs of nearly $74,000 this year, Bitcoin’s price growth has been nothing short of extraordinary. What started as an idea for a decentralized currency has grown into a multi-billion dollar market attracting investors, institutions and governments from around the world.
In recent weeks, there have been numerous reactivations of various old Bitcoin wallets, whose value has skyrocketed astronomically as the price of Bitcoin has risen.
As reported today, a long-dormant Bitcoin wallet address has become active after 11.4 years. In 2013, the BTC stock was worth around $10,174. Now, this value has skyrocketed to a staggering $3,274,741, representing a phenomenal increase of 32,087%.
$1.2 trillion market
Bitcoin, the first and largest cryptocurrency by market cap, currently has a market cap of $1.2 trillion, with a market dominance of 55.7%. The global cryptocurrency market cap currently stands at $2.17 trillion, according to data from CoinMarketCap.
Bitcoin hit a new high of $73,798 in mid-March, boosted by bets on looser U.S. monetary policy and inflows into U.S. exchange-traded funds. The rally has slowed recently, as has the pace of inflows into ETFs.
At the time of writing, Bitcoin was up 0.37% over the past 24 hours to $61,087.
This article was originally published on U.Today
