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Bitcoin has already passed the $68,000 mark in Nigeria, but that’s if you use the official exchange rate. Awosika Ayodeji, a Nigerian blockchain project designer, isn’t complaining.
10 years ago: If you invested $1,000 in Bitcoin in 2014, your investment would be worth $270,665. 15 years ago: If you invested $1,000 in Bitcoin in 2009, your investment would be worth $103 billion.
Bitcoin was initially looked upon with scepticism and associated with Ponzi schemes such as Bitconnect, OneCoin, [citation needed] and Mavrodi Mudial Moneybox (MMM). [3] Scams were commonplace in Nigeria and Bitcoin was often used as a tool for the victims of the scams to make payments as such Bitcoin was not separated in the perception of the people from these scams.
Then a mere five days later, Bitcoin recorded a price of $593.10 — more than a 5-bagger in days! Bitcoin spent the rest of the year gradually declining and closed 2014 at about $318.
[citation needed] On 29 November 2013, the cost of one bitcoin rose to the all-time peak of US$1,242. [42] Some evidence suggests that part of this peak in the price of bitcoin was due to price manipulation. [43] In 2014, the price fell sharply, and as of April remained depressed at little more than half 2013 prices. [citation needed]
In February 2018, the price crashed after China imposed a complete ban on bitcoin trading. [38] The percentage of bitcoin trading in the Chinese renminbi fell from over 90% in September 2017 to less than 1% in June 2018. [39] During the same year, bitcoin prices were negatively affected by several hacks or thefts from cryptocurrency exchanges. [40]
On May 22, 2010, crypto miner Laszlo Hanyecz traded 10,000 of his bitcoins for two Papa John's pizzas. It was the first real-world cryptocurrency transaction in history. Only a little more than a...
Bitcoin price surge after Elon Musk and Tesla announcements of investments into Bitcoin, including acceptance of payment. [214] 16 February 2021 $50,000 : Bitcoin price reached new all-time high of $50,000. [215] 10 April 2021 $60,000 : Bitcoin back above $60,000 as Coinbase gets ready to go public on the stock market. [216] 14 April 2021 $64,800