Bitcoin, the pioneering and most prominent digital currency by market value, has reached a fresh milestone, soaring past $125,000 to the delight of crypto enthusiasts.
On Sunday, Bitcoin surged to an impressive $125,750 on Coinbase. This leap surpassed its previous peak from August 14th and was fueled by a rise in U.S. stock markets alongside increased investments in Bitcoin exchange-traded funds. The cryptocurrency also benefited from a broader rally following the recent government shutdown.
The optimistic outlook is further supported by Bitcoin’s historical trend of performing well in October—often dubbed “Uptober” within crypto circles. In fact, Bitcoin has ended higher in nine out of the last ten Octobers.
Currently priced at $124,686 after gaining 1.96% over the past day, Bitcoin boasts a market cap of approximately $2.48 trillion.
This year alone has seen Bitcoin rise over 30%, with forecasts from Standard Chartered suggesting it might reach as high as $135,000 soon.
The Email That Sparked It All
As Bitcoin achieves new heights once again, those involved with cryptocurrency reflect on its origins—the email that started everything—as we approach the 17th anniversary of the release of its white paper this month.
On October 31st back in 2008 came an email sent by Satoshi Nakamoto—the enigmatic creator behind Bitcoin—to cryptography enthusiasts via mailing list under subject line “Bitcoin P2P e-cash paper.” This concise message introduced concept for peer-to-peer digital currency system which formed foundation upon which entire network was built later on down road .
The white paper detailing design functionality underlying network itself debuted same day , while first block mined shortly thereafter January third following year (2009).