As a researcher with a keen interest in the dynamic world of cryptocurrencies, I can’t help but marvel at the incredible journey Bitcoin has taken over the past 12 years. Having closely followed its development since its inception, it’s fascinating to see how early adopters have turned their modest investments into life-changing fortunes.
12 years ago, Bitcoin (BTC), the largest digital currency by market value, reached an important historical moment: it was possible for cryptocurrency supporters to buy a single Bitcoin for less than $10.
Recently, Bitcoin expert Pete Rizzo humorously pointed out an interesting fact on platform X, triggering a surge of nostalgia and awe among the cryptocurrency enthusiasts.
12 years ago today was the last time you could purchase a single Bitcoin for less than $10, as mentioned by Rizzo on Twitter.
FUN FACT: 12 years ago today, you had your last chance to buy #Bitcoin under $10 ✨
— The Bitcoin Historian (@pete_rizzo_) October 26, 2024
Moving to the present day, individuals who dared to invest in Bitcoin at an early stage have witnessed their holdings multiply dramatically. Over a span of 12 years, the worth of Bitcoin has soared, transforming initial investments into substantial windfalls.
Since that time, the worth of Bitcoin has skyrocketed from less than $10, peaking at almost $74,000 during mid-March, thereby reinforcing its reputation as a digital equivalent of gold.
100 Bitcoins purchased back in 2012 could now be worth millions, despite the ups and downs in Bitcoin’s market price recently. A hoard of about 400 BTC that was approximately $2,000 in value in 2012 is now worth over $27 million today.
Early BTC holders hit jackpot
On October 25th, a blockchain tracker known as Whale Alert announced the reactivation of an inactive Bitcoin wallet that’s valued at approximately $27.3 million after more than 12 years: “An inactive Bitcoin address holding around 400 BTC was recently activated again, which would have been equivalent to just 2,149 USD back in 2012.
It’s clear that there was a dramatic increase in crypto assets, initially valued at $2,149 but has since skyrocketed to a staggering $27,284,805 when last activated.
Currently, Bitcoin (BTC) has increased by 0.11% to $67,124 in the past 24 hours. However, the prices of cryptocurrencies have generally decreased during Sunday’s trading session after a drop on Friday. This decline comes as a result of reports that U.S. authorities are examining Tether, a stablecoin issuer, for potential violations of sanctions and anti-money laundering rules.
Currently, anticipation persists about Bitcoin’s price this week, as its 50-day Simple Moving Average (SMA) is approaching and seems likely to surpass the 200-day SMA, creating a possible “golden cross” pattern. Notably, Bitcoin doubled in value to record highs of almost $74,000 after this golden cross event occurred on October 30, 2023.
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2024-10-27 15:09