The History of Bitcoin

Bitcoin, a revolutionary digital currency invented in 2008 by the mysterious persona of Satoshi Nakamoto, was designed to offer an alternative to government-backed and financial institution-controlled currencies.

Bitcoin’s revolutionary blockchain technology is the backbone of its success, using decentralized public ledgers to verify every transaction made with Bitcoins. This cutting-edge system enables users to make safe and swift transactions without having to rely on banks or other intermediaries for verification.

So BTC is the first cryptocurrency in the world that spurred the development of the entire industry. BTC is listed on all crypto trading platforms. As of March 22, 2023, you can exchange the BTC/USDT pair at $28,3. However, Bitcoin has seen much higher levels of price in the past. Let’s see how its rate has changed since Bitcoin origins.

How Bitcoin Received Adoption

Initially, Bitcoin was embraced by the tech-savvy and libertarians who sought to bypass traditional banking systems. Nonetheless, as time went on, it soon gained widespread public acceptance and experienced rapid value growth.

On Bitcoin Pizza Day – May 22, 2010 – Laszlo Hanyecz made the first Bitcoin transaction by purchasing two Papa John’s pizzas for the equivalent of 10,000 BTC. At the time it was a modest expense yearly valued at $25. However, when the price hit its peak in 2021 those same two pies would have been worth an astounding $630 million.

The History of BTC price:

  • Initially, the asset was unable to garner much attention; however, by November 2023 it achieved a remarkable milestone – its rate reaching an unprecedented $1000.
  • During the same period, the first cryptocurrency skyrocketed to an all-time high of $1,127.
  • In 2015, the price of one coin was brought down to $172.
  • For three years from 2015-2017, the asset achieved a value of over $1000.
  • In 2017, the BTC boom was real as it soared above $10 000 – a remarkable feat for any asset.
  • December 2017 marked a monumental moment for Bitcoin when its price was firmly established at an all-time high of $17,249.
  • In 2018, Bitcoin took a dive – the price stayed around $3000 throughout the year.
  • In 2019, a new all-time high was set at an impressive $67,617.

Today the crypto market is living through its bear trend, so the BTC rate stays low, however, there is no doubt that the new bull run will start somewhere in the future, bringing new all-time highs and profits for those who dare to buy BTC today.

Welcome to the WhiteBIT investment platform to acquire BTC at a present price.

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