Bitcoin exceeded the value of $100,000 for the first time, thanks to the massive growth of the world’s most popular cryptocurrency, fueled by the election of Donald Trump. The milestone came after the president-elect announced a more lenient regulatory approach to the crypto industry, saying he intends to nominate cryptocurrency advocate Paul Atkins as the next chairman of the Securities and Exchange Commission (SEC).
What is Bitcoin
This innovative system enables people around the world to perform transactions without intermediaries such as banks, using the security and transparency of blockchain technology. Bitcoin is based on blockchain technology, which ensures the transparency and security of all transactions. Its value is not tied to centralized systems like states or banks, but rather; it depends on supply, demand and user trust. But, in spite ofč global popularity, the identity of the person who invented it remains a mystery. All we know is the pseudonym – Satoshi Nakamoto. Who is he, or maybe they, is a question that intrigues millions.
Who is Satoshi Nakamoto?
Satoshi Nakamoto first came onto the scene in October 2008, when a document titled “Bitcoin: A Peer-to-Peer Electronic Cash System” was published. It explains in detail the technology that will soon change the world – blockchain. It is easiest to imagine it as a technology like a digital ledger in which all transactions are recorded, and that ledger is distributed among thousands of computers around the world. Bitcoin itself was launched in January 2009, when Satoshi mined the first block, known as the “Genesis Block”. That block contains a message about the financial crisis that shook the world at the time, which indicates the motives behind the creation of Bitcoin – the decentralization of the financial system.
The identity of Satoshi Nakamoto has never been confirmed. Some speculate that the wordč about one genius individual, while others believe that behind the pseudonym is a group of people. Despiteč despite numerous attempts to discover who Satoshi is, his anonymity remains impenetrable.
How much is Bitcoin worth today?
From humble beginnings, when it was worth less than one cent, Bitcoin has grown to incredible heights. Bitcoin has experienced rapid growth since Trump’s election victory in early November. The cryptocurrency rose dramatically from $69,374 on Election Day to $103,713 on Wednesday, according to CoinDesk. Just two years ago, bitcoin fell below $17,000 after the collapse of the crypto exchange FTX. But its value varies significantly depending on market conditions. Bitcoin’s total market capitalization now exceeds $1.9 trillion, making it the most valuable cryptocurrency in the world.
How much is Satoshi Nakamoto worth?
It is estimated that Nakamoto owns around one million Bitcoins, making him one of the richest people in the world. At current value, his fortune exceeds 100 billion dollars. But Satoshi reportedly never cashed in any of his Bitcoins, which further adds to his mystery. Likewise, it is not known whether he or the group behind him spent those Bitcoins.