As Bitcoin reaches new heights, the bold words of its mysterious creator, Satoshi Nakamoto, echo across the crypto world.
Bitcoin recently hit an all-time high of $75,410, which has added new context to Satoshi Nakamoto’s early vision for this digital currency.
As Nakamoto expressed in his message on November 6, 2008, what people would not have fathomed just sixteen years into the future.
Now, that statement, resurfaced by Bitcoin historian Pete Rizzo, seems even more thought-provoking as the crypto asset begins to settle into its place in a shifting financial landscape.
Bitcoin’s Record-Breaking Moment: Satoshi’s Dream Lives On
When Satoshi Nakamoto outlined the vision for this new currency in 2008, it was unheard of to have a digital currency free from banks and border restrictions. Today, Bitcoin’s Market Cap is around $1.49 trillion, and Satoshi Nakamoto’s words, “The power of Bitcoin,” are accurate.
The price of Bitcoin rose by nearly 6.4% in the last 24 hours, partly due to new buying interest spurred by Donald Trump’s victory in the U.S. presidential race. At the time of writing, BTC is trading for $75,281. It now commands 56.9% of the overall crypto-market share.
Due to the high prices of Bitcoin, old wallets have resurfaced, and people who have had Bitcoins for years are active in the market again. Blockchain analytics firm Santiment reported that wallets that had not been active for five or more years witnessed a rise in activity, with holdings rising from 467 Bitcoins to 688 Bitcoins within 24 hours.
Similarly, the long-term wallets that held Bitcoin for over three years increased from 1,199 BTC to 2,235 BTC. Early investors get an opportunity to jump back into the market at a price higher than before, which, to the new investors, is a sign of the inevitable birth of a new bull run.
Bitcoin’s rally has sent ripples across the crypto world. In the past 24 hours, the entire crypto market cap has climbed 5.4%, adding $197 billion in value and bringing the global total to $2.58 trillion. Investors are pouring into digital assets, fueled by hopes of policy changes supporting further growth.
With Bitcoin at its helm, the market-wide surge suggests that the digital currency’s record-breaking run could start a broader parabolic rally.
Satoshi’s Vision Stands the Test of Time
Perhaps in 2008, Satoshi had a vision that this single currency could drastically change the world of finance. But today, we know very well that bitcoin is not a fad at all. The new record high, along with the interest from the old buyers, prove that the currency has a long way to go and still has a lot of potential.
In a world that is combinatorially exploring digital finance, Satoshi’s vision is not only an inspiring quote from the past but also the pulse of a phenomenon that will be around for some time.
The birth and rise of Bitcoin from zero to its peak of $75,410 demonstrates why it was created in the first place—to help people become financially free.