The Bitcoin blockchain has generated its 7th block after more than 12 years of existence. Despite the volatility and disagreement, the market cap coin appears to have retained its place in the crypto community. Here are the top Bitcoin milestones.
Bitcoin top milestones
Bitcoin top milestones so far.
According to data from Blockchain.com, the historical block height was recorded by an unknown miner and reached about 1,276 transactions in the block. This milestone is a function of the increased adoption of digital currency, which has led it to dominate the ecosystem it has developed.
Bitcoin currently has a total circulating supply of 18,812,950 BTC, a number that is roughly 89% of the maximum supply of 21 million. The remaining coins are not expected to be mined until 2140, a rate determined by the halving process built into the coin’s log.
Bitcoin has seen a lot of turmoil over the past decade as many governments worldwide try to raise standards in the form of regulations on digital assets. Amid it all, Bitcoin has seen a remarkable upward trend, reaching as high as $ 64,000 in May of this year. Bitcoin’s current valuation of $ 45,447.84 has positioned it as the 9th most valuable asset in the world compared to the world’s largest companies.
Bitcoin’s ranking was achieved by a market cap of $ 857.1 billion, thanks to the embrace of digital assets from several leading Wall Street companies such as electric car maker Tesla Inc., MicroStrategy Incorporated, and Square Inc.
The milestones Bitcoin in Its years of existence were crowned with the introduction of cryptocurrency as legal tender in El Salvador, a country in Central America.
In its early days, the main criticism from the Bitcoin community was that it was used for criminal activity due to its pseudo-anonymous transactions. However, the advent of security intelligence firms like CipherTrace is beginning to restore regulators’ confidence in their ability to oversee their transactions.
Today, Tesla CEO Elon Musk is making significant criticisms of the digital currency, including its claim to power as a proof-of-work protocol.
The environmental impact of Bitcoin mining is why the World Bank refused to help El Salvador implement its Bitcoin laws.
Many have also highlighted the closed nature of the Bitcoin protocol compared to the open-source model of Ethereum and other networks that support the development of smart contracts. This criticism was taken as a measure that Bitcoin would lose relevance in the long term.
To date, Bitcoin is the most valuable digital asset, accounting for about 41% of the global crypto market capitalization. After hitting an ATH of $ 64,000, many analysts predict the investment will hit its target price of $ 100,000 by the end of the year. Reaching this milestone will provide the impetus to pursue its long-term prospects and surpass gold’s market cap, currently valued at around $ 11.4 billion.
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