The first block of the Bitcoin network was created 14 years ago on this day. The industry is in a grave situation at the time of the anniversary, with many miners fighting for their lives. Things may very well become worse before they get better as the actual scope of market contagion starts to surface.
Let’s check some interesting facts about Bitcoin as it turns 14 today.
- Bitcoin (BTC) is celebrating today its 14th birthday. The genesis block of Bitcoin (BTC) was mined on January 3, 2009 by the infamous and enigmatic Bitcoin founder Satoshi Nakamoto.
- In October 2009, a Finnish computer science student named Martti Malmi sold 5,050 BTC, giving each coin a value of $0.0009. This was the very first Bitcoin transaction.
- The purchase of the ‘two large pizzas‘ was the very first instance when Bitcoin was used as a ‘currency’ for payment of a real-world item. A Bitcoin enthusiast named Laszlo Hanyecz purchased two pizzas for 10,000 BTC on May 22, 2010. At today’s value, that would work out to around $167.3 million.
- The day has gone down in history due to exponential rise in the value of the Bitcoin. The anniversary of the momentous day is now celebrated as the ‘Bitcoin Pizza Day’.
- The asset and its blockchain technology have endured many difficulties and had a significant impact on the world.
- As more businesses and nations invest in the very first crypto asset, adoption of Bitcoin is growing.
- In 2021, El Salvador became the world’s first country to adopt Bitcoin as a legal tender. More recently, the Central African Republic also adopted Bitcoin as a legal tender.
- Bitcoin reached a $1 valuation in February 2011. Shortly afterward, the asset’s price climbed to $10 and then to $30, leading to a leap of 30 times for that year. In 2013, it crossed $1,000 per token. The all-time high of just under $69,000 was reached in 2021.
- Of course, there hasn’t been much to celebrate with the price of BTC lately. However, Bitcoin maximalists strongly believe that it is the only digital asset that will be needed in the future.
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