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Bitcoin (BTC), the largest cryptocurrency by market capitalization, recently reached an important milestone in its history. The last time crypto enthusiasts had a chance to buy Bitcoin for less than $10 was 12 years ago.
Bitcoin historian Pete Rizzo recently shared this funny truth on X, sparking a wave of nostalgia and surprise within the cryptocurrency community.
“Fun fact: 12 years ago today was the last chance to buy Bitcoin for under $10,” Rizzo tweeted.
Fast forward to today, early adopters who took a chance on Bitcoin saw their investments grow exponentially. Bitcoin has skyrocketed in value over the past 12 years, turning an early investment into a life-changing fortune.
Since then, Bitcoin's value has soared from less than $10, reaching an all-time high of nearly $74,000 in mid-March, solidifying its status as “digital gold.”
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For example, 100 BTC purchased in 2012 is worth millions of dollars today, even considering Bitcoin's recent market fluctuations. A stash of 400 BTC that was worth around $2,000 in 2012 is now worth more than $27 million.
Early BTC holders hit the jackpot
On October 25th, blockchain data tracker Whale Alert reported that the Bitcoin whale has awakened after being dormant for over 12 years. “A dormant address containing 400 BTC worth $27,284,805 was just activated in 2012, after 12.4 years, a dormant address containing 400 BTC worth $2,149.”
Most obvious was the meteoric rise in its crypto holdings, which at the time were worth $2,149 and are now worth $27,284,805 at the time of activation.
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At the time of writing, BTC was up 0.11% in the past 24 hours to $67,124. Cryptocurrency prices reversed early gains and rebounded on Sunday after falling on Friday following reports that the U.S. is investigating stablecoin issuer Tether for violations of sanctions and anti-money laundering regulations. It fell sharply in trading.
Meanwhile, expectations remain for Bitcoin price this week as BTC's 50-day SMA is expected to converge and cross above the 200-day SMA, forming a possible golden cross. Following the Golden Cross on October 30, 2023, Bitcoin's value doubled to an all-time high of nearly $74,000.
