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When Bitcoin was first launched by Satoshi Nakamoto, there was no price. It was literally worth $0.
The price of bitcoin first broke over $100 in April of 2013 and was captured on film as it rose to an all time high of $111. Later that year in December, BTC rose dramatically higher hitting a new all time high over $1,000.
Reacting to #Bitcoin reaching an ATH of $111 back in 2013 🤯 pic.twitter.com/qkBfdNJyjA
— Bitcoin Magazine (@BitcoinMagazine) February 11, 2024
Four years later, Bitcoin rose to $10,000 and beyond in November during the infamous bull market of 2017.
Our front page is looking pretty sweet right about now! 🚀 #Bitcoin pic.twitter.com/ug77yZoPW1
— Bitcoin Magazine (@BitcoinMagazine) November 29, 2017
Now, today we are at a historic time in history. December 4, 2024, will forever go down in history as the day the price of bitcoin rose above $100,000 for the first time.
BREAKING: #BITCOIN HITS $100,000 FOR FIRST TIME EVER!https://t.co/XwdsvLUycN
— Bitcoin Magazine (@BitcoinMagazine) December 5, 2024
The next logical target for Bitcoin is another 10x away — $1,000,000.
It is now no longer a question of if Bitcoin will achieve this, but when. When it comes to Bitcoin as a store of value, it has won. It’s off to the races from here, any price action is now possible. And one can only assume that going from $100,000 to $1,000,000 is going to be a lot easier than going from $0 to $100,000.
During this rise to $100,000, Bitcoin has cemented itself as a legitimate asset, and everyone who has taken any meaningful amount of time to research and understand it is buying more.
Everyday people around the world have adopted it for savings, payments, and financial privacy, nation states have adopted it as legal tender and are passing very pro-Bitcoin legislation, and now Wall Street firms are joining in. For someone who has been around for 7 years in the Bitcoin world, it feels unreal.
Congratulations to all the bitcoin holders, old and new, on achieving this milestone. For those who have been HODLing through the bear markets, educating themselves on why Bitcoin is so important, accumulating BTC and ignoring the FUD, and onboarding new Bitcoiners — I salute you. You deserve this and all the gains that have been made on this journey.
This was not easy, you did not get lucky. It takes conviction and strength to be able to buy and hold this extremely volatile asset long term. Enjoy this moment with your friends and family, and here’s to a new era of Bitcoin — the grind towards $1,000,000.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.