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Bitcoin (BTC), the biggest cryptocurrency by market capitalization, recently marked a significant milestone in its history. It was 12 years ago that crypto enthusiasts got their last chance to purchase Bitcoin for under $10.
Bitcoin historian Pete Rizzo recently shared this amusing truth on X, sparking a wave of nostalgia and amazement within the crypto community.
Rizzo tweeted, "Fun fact: 12 years ago today, you had your last chance to buy Bitcoin for under $10."
Fast forward to today, and early adopters who took a chance on Bitcoin have seen their investments grow exponentially. In the last 12 years, Bitcoin has skyrocketed in value, turning those early investments into life-changing fortunes.
Bitcoin's value has soared from under $10 since then, reaching all-time highs of nearly $74,000 in mid-March and solidifying its status as "digital gold."
Tomiwabold OlajideFor example, 100 BTC bought in 2012 would today be worth millions, even with Bitcoin's recent market fluctuations. A 400 BTC stash valued around $2,000 in 2012 is now worth over $27 million.
Early BTC holders hit jackpot
On Oct. 25, a blockchain data tracker Whale Alert reported a dormant Bitcoin whale awakening after over 12 years: "A dormant address containing 400 BTC worth $27,284,805 has just been activated after 12.4 years worth 2,149 USD in 2012."
What was most apparent was the meteoric surge in the crypto holdings, which was worth $2,149 back then and is now worth $27,284,805 at the time of activation.
At the time of writing, BTC was up 0.11% in the last 24 hours to $67,124. Cryptocurrency prices reversed early gains and are broadly lower in Sunday's trading session following Friday's drop on reports that the U.S. is investigating stablecoin issuer Tether for violations of sanctions and anti-money laundering regulations.
Meanwhile, expectations remain on Bitcoin's price this week as BTC's 50-day SMA has converged and looks set to move above the 200-day SMA, forming a potential golden cross. Bitcoin doubled in value to all-time highs of nearly $74,000 following the golden cross on Oct. 30, 2023.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya