Over the last week the cryptocurrency market has been bouncing between $241 billion and $251 billion. Bitcoin has been trading above $9000. It is currently standing at around $9315. Most coins either seeing gains or losses in the range of 1-3%. Last week Bitcoin celebrated its 11th birthday of Bitcoin whitepaper. On 31th of October, 2008 the anonymous Satoshi Nakamoto published the Bitcoin whitepaper, which is a document that contains the description of how Bitcoin works. The Bitcoin blockchain didn’t officially launch until the 3rd of January, 2009.
Since its creation, Bitcoin has been consistently setting new records. Over the years Bitcoin’s all time appreciation in price has been 304 033 233%. Bitcoin’s first-ever recorded trading price was noted on Mar. 17, 2010 — on the now-defunct trading platform bitcoinmarket.com, when one whole Bitcoin was worth $0.003.
85% of Bitcoin supply has already been mined now there are less than 3 million Bitcoin has been left to be mined. Since Bitcoin’s genesis block miners have earned $15 billion revenue and $1 billion of all miner revenue came from cumulative transaction fees. Bitcoin is already helping people in countries where economic and political instability reign, combined with the risk of inflation. The purpose of Bitcoin is to put the power back into the hands of the people and reduce the need for a central authority.