Bitcoin (BTC) is a renowned cryptocurrency platform worldwide, but there are some facts about it that you may not know yet. Bitcoin is a remarkable phenomenon in its own right. It demonstrated that it is possible to have a digital currency that is not dependent on banks or governments. Furthermore, the blockchain technology that powers Bitcoin has the potential to transform industries ranging from finance to healthcare. Let’s look at some Bitcoin facts and figures to better understand this popular blockchain-based cryptocurrency.
The creator of Bitcoin is unknown.
Satoshi Nakamoto created Bitcoin in 2009. He disappeared from the Internet in 2010, and no one has heard from him. Nobody knows if he’s alive or dead, just as his identity is shrouded in mystery. People could reach Satoshi via email and online forums only.
His Bitcoin wallet contains approximately 980,000 Bitcoins, making him one of the wealthiest people on the planet.
The world has lost approximately 20% of Bitcoin forever.
According to the crypto data firm Chainalysis, roughly 20% of Bitcoin has been lost or is in inaccessible wallets. That number translates to 3.76 million BTC (approximately $190 billion).
According to Decrypt, the top coin’s anonymous creator, Satoshi Nakamoto, owns about 1.1 million BTC. The consensus is that Nakamoto will never touch those coins again.
Unfortunately, some people died without sharing access to their Bitcoin, accounting for another portion of out-of-circulation coins.
Over 668 million Bitcoin transactions have occurred.
According to Blockchain.com, there have been 668 million Bitcoin transactions since the currency’s inception in 2009. On September 25, 2021, an average of 265,714 transactions occurred daily. Investing in technology can count on your marketing as the transactions continue to increase. Bitcoin up is a trustworthy site for anyone intending to trade Bitcoin.
El Salvador recognizes Bitcoin as a legal tender.
El Salvador became the first nation to take Bitcoin as legal tender on September 7. President NayibBukele announced the controversial move earlier this year at Bitcoin Miami. Bitcoin will complement, but not replace, the US dollar payment.
The government promised every citizen who opened a national digital wallet would receive $30, but many Salvadorans have objected to the entire scheme. And, due to environmental and transparency concerns, the World Bank declined to assist the country with implementation.
The first commercial Bitcoin transaction was a pizza purchase.
Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas on May 22, 2010, worth about $41 then. It was the first commercial Bitcoin transaction, which is now celebrated yearly with Bitcoin Pizza Day.
With today’s prices, 10,000 BTC is worth more than $500 million, possibly why the story has become part of the cryptocurrency’s folklore.
Miners will generate the last Bitcoin in 2140.
Miners can produce only 21 million coins. It’s a stipulation in the coin’s code. Miners have generated approximately 18.8 million, though, as we saw above, the world has lost some already.
Bitcoin’s protocol halves the amount that miners can produce every four years. While nearly 90% of the total possible Bitcoin is already in circulation, generating the remaining 2.2 million coins will take another 120 years.
There are close to 100,000 Bitcoin millionaires.
It’s hard to tell how many Bitcoin millionaires – or billionaires – are because wallets are anonymous, and Bitcoin prices fluctuate wildly. However, according to BitInfoCharts, there are currently 98,180 addresses that contain BTC worth $1 million or more.
Forbes included the Winklevoss twins and FTX’s Sam Bankman-Fried among the 12 cryptocurrency billionaires on its 2021 billionaires list.