Bitcoin recovers and almost rises to $55,000

Bitcoin is now the most expensive cryptocurrency in the world. It has experienced a rapid increase in value and continues to set records. An overview from its inception in 2008.

Düsseldorf Bitcoin’s record chase continues. The world’s most important cyber currency has reached a new record of 64,869 dollars per Bitcoin. Probably nobody expected the cyber currency to develop so successfully.

It all started in 2008, when a person or a group under the Japanese name „Satoshi Nakamoto“ published a white paper. The idea: there should be a decentrally managed currency, free from the access of states and banks.

„What is needed is an electronic payment system that is based on cryptographic proof instead of trust, and allows two parties to trade directly with each other without an intermediary they trust,“ the unknown person called Nakamoto wrote at the time. Whether the inventor is really a Japanese man is still doubtful today.

Programmers and other enthusiasts took up the vision, and in 2009 the idea became reality. Soon the first trading place was launched where digital coin could be traded. At that time, however, there was still no exchange rate to a currency. Due to the lack of demand, the value was determined solely on the basis of the mining costs.

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Bitcoin Fed Tesla Elon Musk PayPal
This was 0.08 cents in 2010. The blockchain, which was still relatively short at the time, ensured that new coins could be mined without much effort.

It was not until February 2011 that a Bitcoin was also described in mainstream media. The price at that time was 1 dollar and rose slowly.

Most recently, the value peaked at times at more than 64,000 dollars. Currently, analysts believe that the price will continue to rise. However, the Bitcoin price is very dynamic. An investment is still considered risky among investors.

Daily news on Bitcoin, Etherum and Co. can be found in the Handelsblatt’s crypto blog.

Below are the most important events and the development of the cryptocurrency between 2020 and 2021 – starting with the current status.

How expensive was a Bitcoin in the beginning? – Bitcoin price in chronology starting with the current level

27 April 2021 – Bitcoin rises again towards $55,000

After last week’s price collapse, bitcoin is recovering. On Tuesday, the cryptocurrency was trading at $54,693, according to Coinmarketcap data. That’s up four per cent in 24 hours.

One reason for this is a report from the news site Coindesk. According to this, the US bank JP Morgan wants to offer its own actively managed Bitcoin fund for private wealth management clients. According to the report, the Bitcoin fund could be launched this summer. Official confirmation is still lacking. However, the decision to launch a Bitcoin fund would be a clear turnaround, as JP Morgan CEO Jamie Dimon had called Bitcoin a fraud in 2017. He later retracted this accusation.

In Turkey, on the other hand, a crypto shock is taking place: first, the Turkish Central Bank banned cryptocurrencies as a means of payment in the country in mid-April. A short time later, Faruk Özer, founder of a Turkish trading platform Thodex, fled with presumably hundreds of millions of dollars. And now a local competitor is unexpectedly filing for bankruptcy. Read the full story here: Bitcoin investors in Turkey fear for hundreds of millions of dollars.

Tesla sells $272 million worth of bitcoins
In addition to announcing its quarterly figures, Tesla also announces that it sold $272 million worth of Bitcoins in the first quarter of 2021. With this, Tesla makes a profit of 101 million dollars. The group had announced in February 2021 that it had invested 1.5 billion US dollars in the cryptocurrency. The Bitcoin price had risen by almost 18 per cent after the news was announced and as a result marked a price high of more than 46,000 dollars in February.

23 April 2021 – Bitcoin falls below 50,000 dollars for the first time since March – Reason is a decision by US President Biden
According to US media, President Joe Biden wants to finance important investments in the future through higher taxes on capital gains. For example, capital gains tax for citizens with an annual income of more than one million dollars is to be almost doubled to 39.6 percent. The bitcoin price then fell below the $49,000 mark. The market capitalisation also fell by 12 percent within 24 hours. This means that investors are withdrawing from the market. The stock markets in the USA also reacted with significant losses. According to Coinmarketcap, the price is even as low as 47,963 dollars on Friday morning.