Block Day: Remembering 12 years ago today when Satoshi Nakamoto mined the first Bitcoin block

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Since the first Bitcon block was mined by Satoshi Nakamoto on January 3rd, 2009, the crypto asset has contributed to massive returns for investors thanks to its meteoric growth in the last week alone.

Bitcoin’s price (BTC) hit equilibrium with the US dollar almost ten years ago now, an achievement hailed by many as a further move towards acceptance. With Bitcoin reportedly fluctuating between $32,000 and $34,000, however, the price of cryptocurrencies is now the same as that of Model 3 Tesla, which retails for more than $30,000.

Institutional players with millions to buy Bitcoin are now having billionaire status only a few days into 2021. Business analytics company MicroStrategy’s Bitcoin gamble from August and September is paying off well, with an initial $425 million stake worth more than $1.2 billion at the time of publication.

Assuming Tesla CEO Elon Musk is still HODLing his 0.25 BTC, the billionaire’s crypto portfolio is now worth around $8,100, with Bitcoin’s market capitalisation closing in to the car maker. According to data from AssetDash, Bitcoin is currently the ninth highest market cap asset of $611 billion behind the Alibaba and Tesla e-commerce giants.

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In the meantime, the 1,125,150 BTC linked to Satoshi Nakamoto has been priced at well over $1 billion for some time. However, the latest bull market now makes the Bitcoin maker among the top 40 richest individuals in the world, with shares worth nearly $37 billion—just behind British businessman Len Blavatnik, according to Bloomberg’s billionaire ranking.

As the price of Bitcoin breaks new ground with each passing day, social media attention has also set new milestones. According to Josh Frank of The TIE, the overall tweet amount about Bitcoin has gone from the 2017 bull run to 140,000, with more than 70,000 unique Twitter handles writing about the crypto commodity.

At the time of writing, the price of Bitcoin is $32,780, up 21 percent in the last 7 days. Bitcoin reached $34,700 to set an all-time record earlier today.

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