On October 31, 2021, Bitcoin (BTC) is ready to mark the day of its 13th Birthday. It was on the 31st of October, 2008 when the founder and creator of Bitcoin had publicly presented by white paper for Bitcoin.
At that time, no one around the world was aware of the term “cryptocurrency”. However, Satoshi Nakamoto, whose real name and identity is still a mystery, talked about Bitcoin, the first-ever cryptocurrency.
It was on this day when Satoshi Nakamoto had conveyed his message to the entire world through the white paper. In the white paper, he talked about the importance of having an online payment system that is peer-to-peer in nature.
He added that the online payment system would be limited in quantity, would be secure, decentralized, and self-governing. After making the world aware of Bitcoin in the year 2008, Satoshi went on to launch the Bitcoin in the system on January 3, 2009. When launched, the price of Bitcoin had been set to $0.0008 per Bitcoin.
When Bitcoin was launched initially, the entirety of regulatory entities and traditional financial institutions considered Bitcoin as a threat. They considered it a huge threat and a resistance against the centralization that had been going on for a really long time.
This is the reason why Bitcoin had to face a tremendous amount of opposition from these bodies. Still, the support and backing behind Bitcoin continued growing larger with time. In a matter of thirteen years, the Bitcoin community grew enormous and the largest cryptocurrency in the world continued making it through difficult times.
Over the passage of time, the price of Bitcoin continue growing as more and more investors continued rallying to the protocol. Bitcoin continued building its empire, growing in user base, price, and valuation. It soon became one of the major investments in the entire world in the year 2017 for the first time.
In a matter of eight years, the price of Bitcoin hit an all-time high of $19k per BTC. As of today, the price of Bitcoin is over $60k per BTC and it is still one of the most profitable investments on the internet. According to stats, the price of Bitcoin has been appreciated 7,500,000,000% since the launch.
Ever since its launch, Bitcoin has helped solve several issues for people from around the world. The asset has truly proven its worth among the individuals and people who always wanted to have full authority over their personal and financial information.
In several countries such as Cuba, Venezuela, and Iran, it has helped solve several remittance issues for the citizens. Even now, these countries are benefitting from Bitcoin and are able to fight the sanctions and high inflation rates imposed on these countries.