#HistoryOfBitcoin (History of Cryptocurrency)
Sometimes it's easy to forget that Bitcoin (BTC), created in 2009 by the mysterious Satoshi Nakamoto, is only a teenager. Since then, the value of Bitcoin has increased dramatically, from pennies to an all-time high of $73,750, and on March 14, 2024, its market capitalization will exceed $1.44 trillion. Prior to that record high, the big "B" was the asset class with the best performance during the previous ten years. Over the ten years that ended in March 2021, the return on bitcoin exceeded 230%. It has become firmly established in the mainstream just for that reason.
What Was Bitcoin's Starting Price?
At first, Bitcoin was almost completely worthless. In October 2009, Finnish computer science student Martti Malmi, also known online as Sirius, sold 5,050 coins for around INR 414.65, which is when Bitcoin first gained monetary value. At that time, each coin was worth $0.0009.
Bitcoin Exceeded Its Maximum Value:
2024 BTC is now valued at $59000 and has a $1.3 trillion market capitalization as of July 7, 2024. After hitting a new high of $73,750 on March 14, 2024, the price of the well-known cryptocurrency fell by 3.56%, with a market value of $1.44 trillion. The halving of Bitcoin was finished on April 20, 2024. Investors had expected a spike, but it did not materialize. Right now, Bitcoin is being corrected. The U.S. Securities and Exchange Commission has approved 11 Spot Bitcoin ETFs so far this year, followed by Ether ETFs. One of the key factors that allowed spot Bitcoin ETFs to be approved in January 2024 was the fact that BTC exceeded its all-time high several times in March. Subsequently, Bitcoin saw a decline and dropped below $60,000 but quickly recovered to $70,000 following the SEC's approval of ETH ETFs in the United States on May 23, 2024. In the first week of January 2024, the price of Bitcoin was approximately $43,906, and its market value was approximately $915.81 billion. The ETH and BTC coins have become more stable as a result of their ascent and recovery.
