From Investing.com

August 4, 2024 09:00 AM:

Bitcoin historian Pete Rizzo revealed that exactly 14 years ago today, one Bitcoin could be purchased for just $0.05, highlighting the incredible growth in value over the years. From obscurity to mainstream acceptance, Bitcoin’s rise has been remarkable, now trading at over $60,000 per coin, with institutional investors and major exchanges involved.

In a significant development, wealth management firm Morgan Stanley has allowed financial advisers to offer Bitcoin exchange-traded funds to clients, reflecting the increasing acceptance of cryptocurrencies in finance. U.S. Bitcoin ETFs have attracted nearly $18 billion in net inflows since January, showcasing strong demand and interest.

Bitcoin’s price surged to an all-time high of $73,798 in March, following increased demand for U.S. exchange-traded funds. However, recent sell-offs have seen Bitcoin drop from a six-week high to around $60,000, with five out of six days in losses. Over $162 million in bullish crypto wagers were liquidated in the past 24 hours.

Despite recent price fluctuations, Bitcoin’s journey from $0.05 to over $60,000 is a testament to its development and acceptance. With institutional investors, major exchanges, and now financial advisers getting involved, Bitcoin’s growth trajectory seems promising as it continues to gain traction in mainstream finance.

Read more at Investing.com: 14 Years Ago Today BTC Was Priced at $0.05 By U.Today