Bitcoin Hits New ATH, 14 Years After Trading at Just $0.50

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As a researcher who has witnessed the evolution of Bitcoin since its inception, I am absolutely astounded by the incredible journey it has taken over the past 14 years. From $0.50 to an all-time high of $82,400 – a mind-boggling 16,379,700% increase! It’s like watching a seed sprout into a mighty oak tree.

14 years on from when Bitcoin‘s value was only $0.50, it has now achieved an unprecedented peak of $82,400, marking a new record high for the world’s largest digital currency by market cap.

Sharing insights from Bitcoin expert Pete Rizzo, this trivia underscores the significant progress that Bitcoin has made since its initial stages. [X] served as the platform for this revelation back then.

FUN FACT: 14 years ago today, you could buy 1 #Bitcoin for $0.50 ✨

— The Bitcoin Historian (@pete_rizzo_) November 10, 2024

14 years ago, it only cost $0.50 to buy a single Bitcoin, but today that same Bitcoin is worth much more due to its growing popularity and use around the world. Rizzo emphasized this point in a recent tweet.

On Monday, Bitcoin reached an unprecedented high of $82,400, marking its seventh consecutive day of increase, before trading at $82,375. Currently, Bitcoin is experiencing a 4% surge in the last 24 hours and has risen by 19% over the past week. The optimistic outlook on Bitcoin also appears to be driving growth among major and mid-tier digital tokens.

16,379,700% increase to ATH

On Monday, Bitcoin reached an unprecedented peak, fueled by an ongoing surge, increased trading activity during the weekend, and optimistic futures trading where investors are wagering on additional growth.

Over the past 14 years, Bitcoin’s value has skyrocketed from just $0.50 to an astounding $82,400, which is equivalent to a mind-blowing increase of 16,379,700%. This dramatic rise underscores the phenomenal journey and growth of this digital currency throughout its history.

In the year 2024, Bitcoin has experienced an impressive surge of nearly 94%, boosted primarily by robust demand for specialized U.S. exchange-traded funds and the reduction in Federal Reserve interest rates.

Last Thursday saw unprecedented daily investment into Exchange Traded Funds (ETFs), particularly BlackRock Inc.’s $35 billion iShares Bitcoin Trust, which surpassed previous records with inflows of approximately $1.4 billion. Furthermore, trading activity for this ETF hit a new peak during the past week.

Last week from November 4th to 8th, Bitcoin spot ETFs collectively saw an influx of approximately $1.63 billion, with BlackRock ETF IBIT contributing around $1.25 billion and Fidelity Bitcoin ETF FBTC adding about $295 million to its holdings.

In the immediate future, traders are keeping a close watch on the $100,000 mark for Bitcoin (BTC), with anticipation growing regarding its potential price increase.

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2024-11-11 14:08