The value of a single coin has surged to record highs in recent weeks, more than doubling since the start of 2021. But how much was bitcoin when it first came out, and how long did it take to reach $1000? And finally, will dogecoin ever reach bitcoin level?
How much was bitcoin when it first came out?
When it first emerged in 2009, the value of one coin was $0.
A few months later, in 2010, when bitcoin first started trading, a single coin was worth somewhere between $0.08 and $0.0008.
In layman’s terms, that’s somewhere between eight cents and eight hundredths of a cent. Or, not very much at all.
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How long did it take bitcoin to reach $1000?
The current value of a single bitcoin is $57,512.17 – up more than 5% in the last 24 hours alone.
But its value hasn’t increased at a constant rate since it first came into being.
On 1 December 2013, a single bitcoin was worth $1,154,93, meaning it took three years to reach its first thousand.
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What happened to bitcoin after that?
For over four years from the end of 2013, it hovered at between $200 and $700 per coin.
Then, in 2017, it had its first major surge. It peaked on 18 December at just under $20,000 per coin.
But it experienced another lull a year or so later, dropping to not much more than $3,000 for a period of four or five months.
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When did bitcoin start?
Bitcoin started in 2009, and has been around as a tradable currency since 2010.
Recently, bitcoin and other cryptocurrencies have received big name endorsements, which has made them more credible to investors.
Elon Musk (of Tesla and SpaceX fame), Jack Dorsey (founder of Twitter) and Jay-Z are among those to have endorsed the cryptocurrency.
Will dogecoin reach bitcoin levels? Will it be the next bitcoin?
Questions about whether or not dogecoin will be the next bitcoin have circulated since it received several high profile endorsements of its own.
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Dogecoin has surged in value since it was launched in 2013. But its volatility means it can go down sharply, as well as up.
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