Update October 31, 6:31 pm UTC. This article was updated with comments by Narek Gvorgyan. He is the CEO and founder of CoinStats.
Bitcoin’s original document has turned 17 years old. It marks the evolution of Bitcoin from an experiment in niche finance to the $2 trillion digital asset that is held by institutions and governments around the globe.
Bitcoin creator Satoshi Nakamoto First, shared On October 31, 2008 the Bitcoin whitepaper was released in response to the financial crisis.
The document, entitled “Bitcoin: A Peer-to-Peer Electronic Cash System,” Decentralized, peer to peer network that prevents double spending by using proof of work consensus.
Related: ETFs will usher institutions into altcoins, just like Bitcoin: Analyst
The white paper published three months later was the catalyst for the launch of the largest, decentralized network in the world. Nakamoto minted the first Bitcoin block (the genesis block) and received 50 Bitcoin as a reward.BTC).
Seventeen years on, Bitcoin has grown into a multi-trillion-dollar asset, ranking as the world’s eighth-most-valuable asset after silver and Amazon, according Data from CompaniesMarketCap.
Bitcoin has grown to be one of the most popular currencies in the world. “most influential” Narek Gvorgyan is the CEO and founder of CoinStats, a crypto-asset management platform.
“Since then, we’ve witnessed remarkable growth: institutional adoption, regulatory clarity, and millions of users discovering financial freedom through digital assets,” He told Cointelegraph and added:
“Bitcoin’s journey symbolizes more than market capitalization; it represents a global movement toward transparency, ownership, and innovation.”
Related: Arthur Hayes calls for $1M Bitcoin as new Japan PM orders economic stimulus
The Bitcoin price is facing its first October red in seven years
Bitcoin will log its first ever monthly transaction despite the achievement. loss for October Seven years. BTC fell more than 3.5 percent this month. “Uptober” CoinGlass: data and performances shows.
Historical October is referred to as “Uptober,” Bitcoin has had its second strongest month with an average return of 19.9%. Bitcoin’s last monthly loss was recorded in 2018 when the currency fell by 3.8%
Record $19 billion crypto market Bitcoin price fell to four-month low after crash low of $104,000 On October 17,
Crypto analysts have viewed this correction as a “controlled deleveraging,” This was needed to eliminate excess leverage in the market and establish a better basis for future growth.
Magazine: Mysterious Mr Nakamoto author — Finding Satoshi would hurt Bitcoin
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Source: cointelegraph.com
