Bitcoin Turns Sixteen Amid Record Surge

Bitcoin celebrates its sixteenth anniversary with a remarkable surge in value, reaching new record highs and solidifying its place in the global financial landscape.

The world’s largest and most famous cryptocurrency has reached its sixteenth anniversary.

Emerging from enigmatic origins, Bitcoin has thrust itself into the forefront of digital currencies, attracting interest not only from investors but also governments and global leaders.

Last month, Bitcoin’s unprecedented surge surpassed $107,000 following Donald Trump’s announcement of his intention to establish a US strategic reserve for Bitcoin akin to the existing oil reserves.

According to CoinGecko, as of July 2024, governments held 2.2% of Bitcoin’s total supply.

The United States holds approximately 200,000 Bitcoins, which are currently valued at over $20 billion.

Other countries with a significant amount of Bitcoin include China, the United Kingdom, Bhutan, and El Salvador.

In 2022, the Central African Republic (CAR) made history as the first nation in Africa to recognize Bitcoin as legal tender.

The decision was viewed as an effort to reduce reliance on the France-supported CFA amid a competition for influence between Moscow and Paris in the central African nation.

Since Trump’s election in November, Bitcoin has increased by over 50 percent.