In December , the Bitcoin market cap reached an all-time and had grown by over billion U.S. dollars when compared to the summer months. The . 11 rows · Bitcoin’s market cap is $ ,,, Top 10 coins by market capitalization $ USD . Nov 18, · Bitcoin: new historical high for the market cap By Marco Cavicchioli - 18 Nov Bitcoin’s market cap has recorded its new highest ever value. Indeed, according to bitmoneylab.de data, in the last 24 hours, it has reached .
History of bitcoin market cap• Bitcoin market cap | Statista
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Corporate Account. Statista Accounts: Access All Statistics. Basic Account. Despite this, it is the fourth cryptocurrency in the world in terms of market capitalization, with more than 13 billion dollars, while for example LINK Chainlink , which is in fifth place, has a price of Therefore, the fact that Bitcoin has recorded a new historical high for its market capitalization means that, overall, this cryptocurrency has never been more valuable than it is now in all of its history , although for BTC holders it certainly matters more that the price is still below the historical high of December 17th, Class , Marco teaches web-technologies and is an online writer specializing in cryptocurrencies.
How did it begin, what were its forebearers, and what have been the unexpected turns of the Bitcoin journey? Let's take a walk through the timeline and find out. Bitcoin itself did not exist until the late s. Its origins, however, trace back to a few decades ago. Specifically, we can trace it back as far as That is when computer scientist David Chaum first proposed the concept of e-Cash. Already concerned with privacy in the digital realm back in the early 80s, Chaum published a paper entitled "Blind signatures for untraceable payments" that detailed a new form of cryptography which he claimed could allow for an automated payment system where third parties could not see information on the payment.
Chaum tried to put this idea, which would create a blind signature system, to practical use in by creating DigiCash. DigiCash was a company founded in Amsterdam designed, as Bitcoin would be, to create a safe, secure online currency. Chaum's reputation as a brilliant mind attracted both employees and venture capital alike, but the product itself never caught on and by the late 90s DigiCash was bankrupt. Still, Chaum opened the floodgates for other cypherpunks with similar ambitions.
In , Adam Back invented hashcash, a proof-of-work system that would prove very similar to what Bitcoin uses. This year saw the sudden emergence of two cryptocurrency ideas.
In late , Wei Dai released an essay detailing his idea for "b-money," a cryptocurrency whose exchange reads similarly to what the blockchain in Bitcoin would eventually become. The proof-of-work system creates the currency by solving a mathematical computation, and the transfer of money is broadcast to the network. That same year, Nick Szabo put out a similar proposal for "Bit Gold.
Solving the proof-of-work gets you bits and the last bit of the string is used to create the string of the next transaction, similar to Bitcoin's blockchain.
Those predecessors had tried and failed for two decades prior. Then, in , came Bitcoin. In August of that year, Bitcoin. Just a few days into , the first-ever block of Bitcoins, known as the Genesis Block, was mined. By Jan. Nakamoto released the second version of the software in December. With an exchange rate established, it was only a matter of time until someone attempted to make an actual purchase with Bitcoins.
In May of , it happened. This still valued a single Bitcoin as a fraction of a penny, but with a purchase made, intrigued parties saw potential in the product. A couple of months later, Bitcoin's value finally broke the penny threshold. A pivotal year for the exchange of Bitcoin, fittingly the first Bitcoin exchanges popped up in as well - Bitcoin Market in February, and Mt.
Gox in July. Mining pools are where several miners combine resources to get Bitcoin. Not that it was all ups for Bitcoin. Someone spotted a vulnerability in Bitcoin's protocol in October that allowed for transactions without proper verification and exploited it, generating billion BTC.
The transaction was soon erased and the vulnerability fixed. Bitcoin began receiving press - both good and bad. TIME Magazine published an article on Bitcoin for the first time, but the same year there was also an article on Gawker detailing Silk Road, the dark web drug market where Bitcoin was frequently used as payment.
Also in June, Mt. Gox dealt with a serious security breach that compromised tens of thousands of accounts and their Bitcoins. It would not be the first security issue Mt. Gox would deal with. Still, Bitcoin was becoming an entity that more and more of the public knew about and interest in the cryptocurrency grew. This led to a rise in altcoins, other forms of cryptocurrency whose developers were either trying to improve upon Bitcoin or had created the digital coin for a different purpose.
In , Litecoin -- now the seventh-largest cryptocurrency by market cap -- debuted. And then