Bitcoin Historically Hits Milestone
Bitcoin (BTC), the largest cryptocurrency by market capitalization, recently celebrated a significant milestone in its history. It has been 12 years since crypto enthusiasts had the opportunity to purchase Bitcoin for under $10.
Bitcoin historian Pete Rizzo recently shared this interesting fact on X, sparking nostalgia and wonder within the crypto community.
Rizzo tweeted, “Fun fact: 12 years ago today, you had your last chance to buy Bitcoin for under $10.”
Today, early adopters who believed in Bitcoin have witnessed their investments grow exponentially. Over the last 12 years, Bitcoin’s value has surged, transforming these early investments into life-changing fortunes.
Bitcoin’s value has skyrocketed from under $10 to hitting all-time highs of nearly $74,000 in mid-March, solidifying its reputation as “digital gold.”
Early Adopters Strike Gold
For instance, 100 BTC purchased in 2012 would now be valued in millions, despite Bitcoin’s recent fluctuations in the market. A 400 BTC holding valued at around $2,000 in 2012 is now worth over $27 million.
On October 25, blockchain data tracker Whale Alert reported an inactive Bitcoin whale re-awakening after more than 12 years: “A dormant address containing 400 BTC worth $27,284,805 has just been activated after 12.4 years, valued at 2,149 USD in 2012.”
The noticeable aspect was the dramatic increase in the value of the crypto holdings, which went from being worth $2,149 back then to $27,284,805 at the time of activation.
Market Outlook for Bitcoin
Currently, BTC has seen a 0.11% increase in the last 24 hours, reaching $67,124. Cryptocurrency prices have shifted lower after early gains due to reports of the U.S. investigating stablecoin issuer Tether for potential violations of sanctions and anti-money laundering rules.
There is anticipation surrounding Bitcoin’s price movement this week as the 50-day SMA is likely to cross above the 200-day SMA, creating a potential golden cross. Bitcoin’s value doubled to hit all-time highs of almost $74,000 following a golden cross in October 2023.
Additional Insight:
It is fascinating to see how early Bitcoin holders were able to see such substantial gains in their investments over the years. This highlights the long-term potential and value that Bitcoin has provided to those who believed in it from the beginning. The upcoming potential golden cross in Bitcoin’s price movement could indicate further positive momentum for the cryptocurrency. Investors and enthusiasts will be closely watching to see how Bitcoin’s price develops in the coming weeks.
