- Bitcoin’s value soared from under $10 in 2012 to nearly $74,000, marking significant growth over the past 12 years.
- A dormant Bitcoin wallet with 400 BTC was recently reactivated, turning a $2,149 investment from 2012 into $27 million today.
- As Bitcoin nears a potential “golden cross,” the market anticipates renewed momentum despite recent volatility from regulatory concerns.
In a significant milestone, Bitcoin (BTC) celebrated 12 years since crypto enthusiasts had their final chance to purchase it for under $10. The anniversary was highlighted by Bitcoin historian Pete Rizzo, who recently tweeted this memorable fact, sparking nostalgia and fascination within the crypto community. The tweet, reading, “12 years ago today, you had your last chance to buy Bitcoin for under $10,” sent ripples across social media, drawing attention to the incredible growth Bitcoin has achieved.
Exponential Gains for Early Bitcoin Investors
Early adopters who invested in Bitcoin in its infancy have seen their stakes multiply exponentially. From its humble beginnings at under $10 per coin, Bitcoin has surged to record-breaking highs, reaching close to $74,000 in March last year. The digital currency’s meteoric rise has solidified its reputation as “digital gold,” providing life-changing financial gains for those who took a chance on the then-nascent technology.
A striking example of this financial transformation came to light on October 25, when blockchain data tracker Whale Alert reported the reactivation of a dormant Bitcoin wallet. This particular wallet, holding 400 BTC, had been untouched for over 12 years. At the time of purchase, the stash was worth around $2,149. Today, the same holding has a market value exceeding $27 million, underscoring the wealth generated by those early investments.
Market Movements and Price Fluctuations
Bitcoin’s growth journey has been accompanied by considerable market fluctuations. At the time of writing, Bitcoin had increased by 0.11% in the last 24 hours, trading at $67,124. However, Sunday’s market session saw broader declines in cryptocurrency prices following reports that U.S. authorities are investigating stablecoin issuer Tether for potential sanctions and anti-money laundering violations. This regulatory development has contributed to Bitcoin’s recent volatility, with prices reversing some early gains.
Bitcoin Eyes Golden Cross as Investors Watch Closely
In the coming days, Bitcoin’s price action is likely to capture investor attention as the cryptocurrency’s 50-day Simple Moving Average (SMA) edges closer to crossing above its 200-day SMA. This technical event, known as a “golden cross,” is closely watched by traders as it typically signals an impending upward trend. A similar golden cross in October last year saw Bitcoin doubling its value, reaching all-time highs in just a few months.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
