The price of bitcoin reached a new all time high this past weekend, breaking above $6,300 for the first time in its history. The news comes just as bitcoin celebrates its 9th birthday: Satoshi Nakamoto published his bitcoin whitepaper online 9 years ago.
The world’s largest cryptocurrency peaked at a price of $6,306.58, according to CoinDesk data from this past weekend. The new all time high came just 10 days after bitcoin broke the $6,000 barrier for the first time in its history.
As of Monday, October 30, the price has been bouncing between $6,050 and $6,150 for most of the day.
Investors clearly weren’t worried after bitcoin’s recent hard fork – the second for the network this year. Despite the eventful year for bitcoin – and increased competition from alternative currencies – bitcoin continues to dominate.
Overall, bitcoin is up 500% from the beginning of this year.
October 31 Is Bitcoin’s Birthday
There’s some debate over bitcoin’s birthday. Some people claim the birthday is the date of the first genesis block. The consensus, however, is that bitcoin’s birthday is the first day it was released onto the internet: October 31, 2008.
That would make Tuesday, October 31, 2017 the 9th birthday of bitcoin. 9 years ago, Satoshi Nakamoto published the original bitcoin whitepaper online. The currency would officially launch in 2009.
That original PDF file is still available online from the same source, Bitcoin.org. The whitepaper has remained unchanged since its initial release. The identity of Satoshi, meanwhile, continues to be totally unknown.
October 31, 2017 is a major date for one other reason. It’s the date by which China’s domestic crypto markets were told to stop providing bitcoin-to-fiat trading. China’s exchanges, however, appear to have been complying with these requirements since September, when the news was first launched – so the deadline date should be a non-issue in China.
In any case, the world was a much different place 9 years ago. We can only guess where bitcoin will be next year on its 10th birthday – or its 20th.