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August 10, 2017, 06:31:32 AM |
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Call it a coincidence, but the Bitcoin price reached $3,136 per token on its 3,136th day of existence (August 9, 2017).
The digital currency was established on January 1, 2009.
Although this is just a fun and useless statistic, it shows how the cryptocurrency has expanded by leaps and bounds since its creation. This also means that the virtual currency is already effectively worth one dollar for every day it existed.
Sign of Bitcoin’s phenomenal rise
This statistic can be considered as insignificant and could mean nothing to the majority of everyday consumers.
Digging deeper, this coincidence shows how Bitcoin performed solidly over the years as compared to other cryptocurrencies. Based on careful examination, there are very few virtual currencies that are in existence today that can match or surpass Bitcoin’s feat.
One Reddit user pointed out that even the fiat currencies like the dollar cannot match Bitcoin’s performance. In fact, fiat currencies are constantly losing their purchasing power to inflation. Bitcoin, on the other hand, has registered a rapid increase in purchasing power.
History of Bitcoin
Bitcoin is a global virtual currency and digital payment system that was developed by an anonymous programmer or a group of programmers who used the alias “Satoshi Nakamoto.” The cryptocurrency is used directly by the users when they conduct peer-to-peer transactions. The transactions are recorded in a public distributed ledger called Blockchain.
The digital currency can be considered as the first decentralized cryptocurrency as it is used without a central repository or single administrator.
Based on research by Cambridge University, there are already between 2.9 to 5.8 mln unique users of a cryptocurrency wallet in 2017, with the majority of them using Bitcoin.
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