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Bitcoin journalist and historian Pete Rizzo has shared a tweet that is sending the community back 18 years – right into 2012. That was the year that BTC traded at $20 and YouTuber Molly Templeton published a video, where she explained to her wide audience what Bitcoin was about.
That year also marked two years after mysterious Bitcoin creator Satoshi Nakamoto decided to leave the public space and disappear, leaving his invention in the hands of a dedicated community.
Bitcoin's up 590,000% since 2012
The blogger stated that while one Bitcoin could be exchanged for roughly $20, if the U.S. dollar started losing its value due to inflation, BTC would potentially retain its value. She stressed that money is not paper, gold or data – “money is trust in the system, be it the Earth, government, or the Internet,” Templeton said. “Who do you trust?” she asked she her audience at the end of the video.
Rizzo reminded the community that since that year, Bitcoin is up 590,000% and surpassed the $123,000 price level a day ago. BTC has been largely appreciating over the extensive money printing by the Federal Reserve, and overall institutional trust growth as spot Bitcoin ETFs (which have opened access to Bitcoin for Wall Street) saw the second largest daily inflows of $1.18 billion.
“Everyone who listened is up 590,000%,” Rizzo stated.
Besides, BTC is becoming more scarce over time thanks not only to extensive purchases but also thanks to halvings, which reduce the amount of miner block rewards by half every four years. The fourth halving event took place on April 20 last year, with the next one coming in 2028. More than 19 million coins out of 21 million have been mined already.
Robert Kiyosaki's buying more BTC
In a recent tweet, the author of “Rich Dad Poor Dad,” Robert Kiyosaki, highlighted Bitcoin’s surge above the $120,000 level and doubled down on his forecast that he expects BTC to hit $200,000, perhaps this year, and then skyrocket to $1,000,000 later on. His earlier tweets say that he believes it will happen by 2035.
Kiyosaki added that he was going to buy one more Bitcoin and would continue to accumulate until it is clear to him where the U.S. economy is going.
Vladislav Sopov
U.Today Editorial Team