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Fifteen years ago, in the early days of Bitcoin, 14 BTC would go for just $0.01. Bitcoin historian Pete Rizzo highlighted this fascinating piece of history in a recent X post. "15 years ago today, you could buy 14 Bitcoin for $0.01, $1.5 million today," Rizzo wrote in an X post.
Bitcoin had relatively little value 15 years ago, and 14 BTC could be purchased for just one cent, which is now worth nearly $1,500,000 at current values.
Bitcoin had launched a year earlier in January 2009, when its pseudonymous creator, Satoshi Nakamoto, mined the Genesis block, known as block 0. The first known Bitcoin transaction occurred in May 2010, when 10,000 BTC were traded for two pizzas.
Tomiwabold OlajideThe rise in the price of Bitcoin from pennies to six figures serves as a reminder of how far the cryptocurrency has come, from an obscure digital experiment to a multi-trillion-dollar asset class.
Bitcoin reached a record high of $109,241 on Jan. 20 but then fell, although it still trades above $100,000 and has a market capitalization of $2.08 trillion.
Bitcoin price action
Bitcoin experienced its largest gain in more than a week following the Federal Reserve's most recent monetary policy meeting and comments from Chair Jerome Powell that briefly mentioned crypto regulation.
At the time of writing, Bitcoin had risen 2.28% in the previous 24 hours to $105,048, from intraday highs of $105,610.
Fed officials paused monetary easing on Wednesday, and Powell, in his annual briefing, indicated that the central bank might need to see more progress on inflation before considering any further interest rate cuts.
The Federal Reserve kept its main interest rate unchanged on Wednesday, reversing a recent trend of easing policy. In a largely anticipated move, the Federal Open Market Committee maintained the overnight borrowing rate at 4.25%-4.5%.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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