The most valuable digital asset is celebrating another year on the market as it briefly surpassed the $45,000 threshold this week for the first time in nearly two years.
Fifteen years ago today, Satoshi Nakamoto launched the first blockchain network after mining the genesis block of Bitcoin. This moment in history birthed the cryptocurrency market, which boasts thousands of cryptocurrencies today.
Since its inception, Bitcoin has claimed its place as one of the world’s top 10 most valuable assets, and undoubtedly, it’s the most valuable cryptocurrency on the market.
Bitcoin was down tremendously around the token’s 14th birthday, trading for roughly $16,680. That’s not the case a year later, with Bitcoin briefly breaking the $45,000 threshold a day before its birthday for the first time since April 2022. As of Jan. 3, Bitcoin is trading for around $42,700, steadily holding above the $40,000 threshold.
The token has seen a positive uptick in recent months, attributed to the impending spot Bitcoin ETF approval. A decision from the SEC is rumored to come in the next week, changing the landscape of the crypto market once again. But Bitcoin isn’t your typical cryptocurrency, and as far as the SEC is concerned, it’s actually a commodity under the Commodity Exchange Act.
If any asset is going to shake up the entire market, it will surely be Bitcoin. It always was going to be.
But let’s not forget — Bitcoin might not be in circulation forever since it has a cap of 21 million coins. The final token is expected to be mined by 2140. The crypto is also prepping for its fourth halving event in the first quarter of this year, decreasing its mining reward once again.
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