The value of Bitcoin exceeded one trillion

The price of Bitcoin rose to $ 56.000 on Friday, pushing the combined value of all bitcoins to exceed $ 1 trillion - at least in theory.

This price is more than its market capitalization . Bitcoin's value has nearly doubled from $29.000 at the start of the year.

We mention the above "theoretically" because not all bitcoins are available for use. Each bitcoin (or bitcoin fraction) is protected by one or more cryptographic signatures. To transfer a bitcoin, you need to know its corresponding private key. And some of these keys are missing. It is impossible to know how many.

For example, a Briton claims to have tossed a hard drive in 2013 containing keys for 7.500 bitcoins - worth about $ 400 million at today's price. He asked for permission to dig the rubbish, but the request was rejected.

Such incidents have been repeated many times in the last 12 years. It was probably a particularly common occurrence in the early days years of operation of bitcoin, when the had no value. In 2010, someone paid 10.000 bitcoin for two pizzas, one incl which is now widely recognized as the first commercial bitcoin payment.

iGuRu.gr The Best Technology Site in Greecefgns

every publication, directly to your inbox

Join the 2.100 registrants.

Written by giorgos

George still wonders what he's doing here ...

Leave a reply

Your email address is not published. Required fields are mentioned with *

Your message will not be published if:
1. Contains insulting, defamatory, racist, offensive or inappropriate comments.
2. Causes harm to minors.
3. It interferes with the privacy and individual and social rights of other users.
4. Advertises products or services or websites.
5. Contains personal information (address, phone, etc.).