Bitcoin Value Hits Record High

Bitcoin was the first digital currency and remains the most valuable. Founded in 2009 by unknown persons named Satoshi Nakamoto, its trading history has been volatile.

The cryptocurrency’s value significantly changed in July 2011 when the value of a single bitcoin escalated from $0.0009 to $15.40.

In 2013, Forbes named Bitcoin the best investment of the year. Bitcoin began trading at $13 in the year, crossed $100 in April, and recorded a high of $1,242 by November.

The digital currency surged in 2017, beginning at $13, crossing $100 by April, then skyrocketing to $19,783.21 in December.

During the COVID-19 pandemic in 2020, while central banks were printing money, Bitcoin—with its fixed supply of 21 million coins—jumped from $7,161 to $28,993 by December.

In October 2021, Bitcoin hit an all-time high of $66,975.

2022 saw bitcoin’s price decline; by year’s end, it was below $20,000.

The currency opened in 2023 for $16,530, ending the year at $42,258.

In January 2024, the U.S. Securities and Exchange Commission approved Bitcoin exchange-traded funds (ETFs), which hold Bitcoins in a secure digital vault managed by registered custodians. The price of these EFTs mirrors that of Bitcoins in the crypto market.