Bitcoin: from $ 1 to $ 48,000 in 10 years

Bitcoin: from $ 1 to $ 48,000 in 10 years


Bitcoin, the world’s oldest and largest digital asset, is synonymous to cryptocurrency as a whole. Created in 2009 by an unknown person under the pseudonym Satoshi Nakamoto, this digital money first reached the size of $ 1 on February 9, 2011.

Thorny path of the king of cryptocurrencies to Olympus

Since its modest start, Bitcoin has jumped to a record high of $ 48,226. 25 on February 9 this month, delivering a staggering 48.22. 525% gain over the entire period.

By comparison, the Sensex rose 191.76% in absolute terms from 17,592. 77 to 51,329. 08 in the same interval, according to information published by the BSE. Spot gold prices on global markets returned 35% after rising from $ 1,364 to $ 1,841, according to information published on In truth, Bitcoin has been the most efficient asset class of the last decade.

However, this path was quite tough. The cryptocurrency, whose market valuation at its peak was estimated at more than $ 880 billion, has experienced many serious declines over the past decade. The initial surge occurred when the crypto asset, after reaching the $ 1 stage in February 2011, increased to close the $ 30 range in June 2011, but fell sharply to $ 2 by November of the same year.

Bitcoin first broke the $ 1,000 stage in November 2013, but by April 2014, it had fallen to below $ 350. It took him 4 additional years to reach the $ 5,000 stage in September 2017, and in December 2020, he surpassed the $ 20,000 mark.

The current rally in digital assets is once again driven by curiosity from huge global financial institutions comparable to BlackRock and Goldman Sachs. In addition, the value jumped from $ 8,000 to more than $ 48,000 after the American electric car manufacturer Tesla announced that it had bought Bitcoin for $ 1.5 billion.

In the current report of the US-based ARK Funding Administration LLC, the Bitcoin market and buyers seem to be maturing. The stock house, in its report titled “Massive Concepts 2021,” mentioned that Bitcoin shows additional faith, and some corporations view it as money in their sustainability tables.

“If all S&P 500 corporations committed 1% of their money to Bitcoin, ARK estimates that their value would improve by about $ 40,000,” it says. The report was released when the cost of buying and selling the BTC was about $ 30,000.

The cycle of innovation in the prices of cryptocurrency

Taking into account the aforementioned evolution in the Bitcoin price cycle, Chris Dixon of Andreessen Horowitz declared this phenomenon to be a cycle of innovative cryptocurrency prices. The evolution and growth of prices for digital assets, such as BTC and  other cryptocurrencies, attract the attention of industry leaders, entrepreneurs and venture capitalists, and make them enthusiastic to invest huge amounts in them.

Paul Veradittakit, a partner at Pantera Capital, said:

“In the near future, we will see the emergence of a wide range of entrepreneurs”.

Since 2018, specialized investors such as Pithia, Blockchain Capital, Polychain Capital, and Pantera have invested more than $ 100 million in cryptocurrency and blockchain startups. Soon, state investors will also take this into account.

Taking into account technological advances and new applications, crypto investors believe that there will soon be a new crop of emerging startups that will invest heavily in cryptocurrencies and blockchain. The infrastructure that existed back in 2018 was developing at the speed of light. The achievements that have led to its appearance, cause developers to be enthusiastic about improving the scalability, accuracy and efficiency of transactions.

One of the most developing areas in which more and more technological advances and improvements can be expected in the coming years is decentralized finance, also known as DeFi.