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

U.Today - Bitcoin, the largest cryptocurrency by market cap, has just reached a new all-time high of $82,400 exactly 14 years after its price sat at just $0.50.

This fun fact, shared by Bitcoin historian Pete Rizzo on X (formerly Twitter), highlights how far Bitcoin has come since its early days.

In a tweet, Rizzo highlighted that 14 years ago, one could purchase a single Bitcoin for just $0.50. Fast forward to today, and Bitcoin's value has skyrocketed, reflecting its increasing acceptance and adoption across the globe.

Bitcoin extended its run to the seventh day to hit an unprecedented $82,400 on Monday (NASDAQ:MNDY), before changing hands at $82,375. At the time of writing, BTC was up 4% in the last 24 hours and up 19% weekly. Bullish sentiment likewise boosted growth across all major and midcap tokens.

16,379,700% increase to ATH

Meanwhile, in the last 14 years, Bitcoin has risen from a mere $0.50 to a record-breaking $82,400, representing a staggering 16,379,700% increase. This highlights the incredible journey and growth of the digital currency over the years.

Bitcoin has increased by almost 94% so far in 2024, aided by strong demand for dedicated U.S. exchange-traded funds and Federal Reserve interest rate reduction.

The ETFs, led by BlackRock Inc (NYSE:BLK).'s $35 billion iShares Bitcoin Trust, had a record daily net inflow of nearly $1.4 billion last Thursday, beating the March record of $1.1 billion. In addition, trading volume for the iShares ETF reached an all-time high in the last week.

According to Wu Blockchain, from Nov. 4 to Nov. 8, Bitcoin spot ETFs had a net inflow of $1.63 billion last week, BlackRock ETF IBIT had a weekly net inflow of $1.25 billion and Fidelity Bitcoin ETF FBTC had a weekly net inflow of $295 million.

Traders are eyeing the $100,000 level for BTC in the short term, as expectations grow for BTC's price.

This article was originally published on U.Today