Bitcoin
Michael Saylor celebrates 1 billion Bitcoin transactions
Alex Dovbnya
It took Bitcoin more than four years to add half a billion transactions
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Michael Saylor, executive chairman of MicroStrategy, turned to social media network X to celebrate Bitcoin’s latest milestone: one billion transactions.
The transaction was recorded in block 842,241 on May 5 at 21:34 UTC, according to data provided by the Clark Moody panel.
Approximately 15.5 million transactions were recorded in the last 30 days.
O first Bitcoin transaction took place on January 12, 2009, between Bitcoin creator Satoshi Nakamoto and the late cypherpunk Hal Finney. Finney was given 10 coins as a test. Shortly after that, Finney emailed Bitcoin’s mysterious founder to report some bugs.
Finney He started running Bitcoin for a while and then turned it off because it made his computer hot. The computer programmer was diagnosed with Lou Gehrig’s disease shortly after becoming the first person to receive a Bitcoin transaction.
After tinkering with Bitcoin and abandoning it, he was surprised to discover that it actually had monetary value in late 2010. The network eventually surpassed one million transactions in July 2011. At that time, the largest cryptocurrency traded at around $15.
Finney, who is one of the leading contenders for Satoshi, passed away in 2014 after his battle with Lou Gehrig’s disease.
At the end of 2015, Bitcoin recorded 100 million transactions, which was a sign of growing adoption. The largest cryptocurrency was trading at around $455. In February 2020, the network surpassed half a billion transactions when the cryptocurrency was trading just above the $10,000 level.
Saylor, one of the most prominent Bitcoin advocates, foreseen that the market value of the main cryptocurrency could reach US$100 trillion.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the booming industry – from price analysis to Blockchain disruption. Alex has authored over 1,000 stories for U.Today, CryptoComes, and other fintech media outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. He can be reached at alex.dovbnya@u.today.