- MicroStrategy’s executive chairman, Michael Saylor, has celebrated Bitcoin’s latest milestone of one billion transactions.
- The transaction was recorded in block 842,241 on May 5, at 21:34 UTC, according to data from the Clark Moody dashboard.
- Saylor, a prominent Bitcoin advocate, predicts that the market value of the flagship cryptocurrency could reach $100 trillion.
Bitcoin reaches a significant milestone with one billion transactions, celebrated by MicroStrategy’s executive chairman, Michael Saylor, who predicts a $100 trillion market value for the cryptocurrency.
Bitcoin Hits One Billion Transactions
Bitcoin, the world’s leading cryptocurrency, has reached a significant milestone with one billion transactions. This achievement was celebrated by MicroStrategy’s executive chairman, Michael Saylor, on the X social media network. The transaction was recorded in block 842,241 on May 5, at 21:34 UTC, according to data provided by the Clark Moody dashboard. Over the past 30 days, roughly 15.5 million transactions have been recorded.
First Bitcoin Transaction and Growth Over the Years
The very first Bitcoin transaction took place on Jan. 12, 2009, between Bitcoin creator Satoshi Nakamoto and the late cypherpunk Hal Finney. Finney received 10 coins as a test and later reported some bugs to Nakamoto. The network surpassed one million transactions in July 2011, when Bitcoin was trading at roughly $15. In late 2015, Bitcoin recorded 100 million transactions, indicating growing adoption. The cryptocurrency was trading at roughly $455 at the time. By February 2020, the network topped half a billion transactions, with Bitcoin trading just above the $10,000 level.
Michael Saylor’s Prediction for Bitcoin
Michael Saylor, one of the most prominent Bitcoin advocates, has predicted that the market value of the flagship cryptocurrency could reach $100 trillion. This prediction comes as Bitcoin continues to gain mainstream acceptance and its transaction volume continues to grow. Saylor’s company, MicroStrategy, has been one of the leading institutional adopters of Bitcoin, holding a significant amount of the cryptocurrency on its balance sheet.
Conclusion
Bitcoin’s milestone of one billion transactions signifies its growing adoption and use in the global financial system. With predictions of its market value reaching $100 trillion, the future of Bitcoin seems promising. As more institutions like MicroStrategy continue to adopt and hold Bitcoin, its transaction volume is likely to continue growing, further cementing its position as the leading cryptocurrency.
