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Bitcoin, the largest cryptocurrency by market cap, has just reached a new all-time high of $82,400 exactly 14 years after its price sat at just $0.50.
This fun fact, shared by Bitcoin historian Pete Rizzo on X (formerly Twitter), highlights how far Bitcoin has come since its early days.
In a tweet, Rizzo highlighted that 14 years ago, one could purchase a single Bitcoin for just $0.50. Fast forward to today, and Bitcoin's value has skyrocketed, reflecting its increasing acceptance and adoption across the globe.
Tomiwabold OlajideBitcoin extended its run to the seventh day to hit an unprecedented $82,400 on Monday, before changing hands at $82,375. At the time of writing, BTC was up 4% in the last 24 hours and up 19% weekly. Bullish sentiment likewise boosted growth across all major and midcap tokens.
16,379,700% increase to ATH
Bitcoin climbed to a new all-time high on Monday, driven by a continuous rally, high trading volumes over the weekend and bullish futures market activity, with traders betting on further gains.
Meanwhile, in the last 14 years, Bitcoin has risen from a mere $0.50 to a record-breaking $82,400, representing a staggering 16,379,700% increase. This highlights the incredible journey and growth of the digital currency over the years.
Bitcoin has increased by almost 94% so far in 2024, aided by strong demand for dedicated U.S. exchange-traded funds and Federal Reserve interest rate reduction.
The ETFs, led by BlackRock Inc.'s $35 billion iShares Bitcoin Trust, had a record daily net inflow of nearly $1.4 billion last Thursday, beating the March record of $1.1 billion. In addition, trading volume for the iShares ETF reached an all-time high in the last week.
According to Wu Blockchain, from Nov. 4 to Nov. 8, Bitcoin spot ETFs had a net inflow of $1.63 billion last week, BlackRock ETF IBIT had a weekly net inflow of $1.25 billion and Fidelity Bitcoin ETF FBTC had a weekly net inflow of $295 million.
Traders are eyeing the $100,000 level for BTC in the short term, as expectations grow for BTC's price.
Alex Dovbnya
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team