Bitcoin Last Traded at One Cent 14 Years Ago

Today marks the 14th anniversary of Bitcoin’s last trade at the humble price of one cent, a figure that seems nearly unthinkable in the current financial landscape. Bitcoin historian Pete Rizzo points out that this day in history represents a pivotal moment for digital currencies, capturing the remarkable evolution Bitcoin has undergone since its inception.

This milestone was one of the initial instances where Bitcoin’s price began to reflect its increasing value. At the time, very few anticipated the extraordinary rise BTC would eventually achieve, transforming from a niche digital currency into a significant player in the global market.

Launched by the enigmatic figure Satoshi Nakamoto, Bitcoin was originally traded on private forums among early adopters, miners, and enthusiasts. Back then, it remained largely unknown outside a small circle of dedicated believers.

Since reaching that historic one-cent mark, Bitcoin’s price has soared, hitting an all-time high of roughly $74,000 in mid-March of this year.

### Bitcoin Price Action

Currently, Bitcoin has seen a slight decrease of 0.70% over the past 24 hours, trading at around $62,527. It dipped to a low of $61,976 during early trading today, after hitting a high of $64,467 on Monday, effectively erasing almost all gains from the previous week.

Looking ahead, cryptocurrency traders are focusing on upcoming Federal Reserve meetings for insights on market positioning. The Fed is set to release the FOMC minutes and vital economic data from August, which are expected to indicate growth.

Market watchers are also keeping an eye on the behavior of Bitcoin whales, or large holders. According to Ki Young Ju, CEO of CryptoQuant, a transition among Bitcoin whales appears to be underway. New whales have invested $108 billion while older ones have contributed $113 billion since Bitcoin’s creation, resulting in a ratio of 48:51.