Thats how long it took bitcoin BTCUSD, -5.34% back in April 2013, to rise from $100 for a single bitcoin to $200.
Fast forward four years and the cryptocurrency has reached an all-time high of $4,890.40 and has been scaling $100 milestones in a matter of hours on a routine basis. On Tuesday morning, the price of a single bitcoin was around $4,400; by Tuesday afternoon it had shot up to briefly top $4,700 for the first time. Friday, it scaled above $4,800 and has $4,900 in its sights.
While these milestones have become lesser and lesser accomplishments as bitcoin has continued to blaze along its upward path bitcoin would now only need to rise 2.1% to go from $4,800 to $4,900, compared with 100% when it doubled to $200 it is also indicative of just how astonishingly fast the digital currency has been rising this year. So fast we were barely able to fit all the milestones onto this whopper of a chart.
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Also read: 22 internet memes that let you relive bitcoins historic rise
If that chart isnt making bitcoins staggering ascent abundantly clear, here are some more stats that should do the job:
One year ago, on Aug. 31, 2016, bitcoin was trading at $576.
Which means bitcoin is up over 740% over the past 12 months.
It closed 2016 trading at about $954.
So, thus far in 2017, it is up over 400%.
Bitcoin started the month of August at $2,738.
And has hit record after record this month, surging 77%.
There have been nine days in 2017, five in August alone, in which bitcoin has scaled past several $100 milestones in a single day.
At current levels, bitcoin has a market cap of $79.38 billion, larger than such companies as Starbucks Corp. SBUX, +0.13% and American Express Co. AXP, +0.05%
(Bitcoin prices according to CoinDesk.)
This is where well remind you that as the elder sibling of the cryptocurrency gang, bitcoins numbers actually pale in comparison to some of its brethren:
Ether has soared more than 4,600% this year. Its total market cap stands at $36.7 billion.
Bitcoin Cash, an offspring created in response to bitcoins transaction-size issue, has a market cap of $10.4 billion. (Though it is down about 26% from an all-time high above $860, hit on Aug. 19.)
Ripple, at about $0.25, is up nearly 3,900% this year. Market cap at latest check: $9.5 billion.
Litecoin, at about $79, is up over 1,800% since the beginning of this year, when it was trading at just over $4. Its market cap now stands at just over $4.1 billion.
Despite the records, cryptocurrency trading has been extremely volatile this year. Bitcoin recently dropped more than 10%, briefly putting it into correction territory before it subsequently rebounded. Still…
The combined market cap of all digital currencies is above $175 billion, according to CoinMarketCap.
And it has grown by more than $20 billion in the past eight days.
At current levels, the crypto market cap amounts to nearly one-tenth the value of the physical stock of official gold.
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- Why Beanie Babies make for a better investment than bitcoin - MarketWatch - September 5th, 2017
- Bitcoin's price hit $5000 last week. It's still a dumb investment - Los Angeles Times - September 5th, 2017
- Bitcoin dips another $300 after China's cryptocurrency crackdown - CNBC - September 5th, 2017
- IRS Eyes Profits From Bitcoin and Bitcoin Cash Investments - Investopedia - September 5th, 2017
- Sequoia, IDG to Invest in China Bitcoin Mining Giant - Bloomberg - September 4th, 2017
- Bitcoin Price Drops By Over $250 as Crypto Markets Lose Billions - CoinDesk - September 4th, 2017
- Bitcoin $5,000: Currency Hits New Record High | Fortune.com - Fortune - September 2nd, 2017
- Bitcoin Drops Below $5000 as Crypto Markets See $13 Billion Sell-Off - CoinDesk - September 2nd, 2017
- Searching for the future of currency, major companies try Bitcoin technology - PBS NewsHour - September 2nd, 2017
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- Bitcoin jumps nearly 70% for August to record high, offshoot 'bitcoin cash' falls to more than one-week low - CNBC - August 30th, 2017
- Bitcoin Foundation seeks legal protection from US currency regulation - The Independent - August 30th, 2017
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- As bitcoin and rivals surge, so too have complaints to the CFPB - MarketWatch - August 29th, 2017
- Is Bitcoin the New Gold? - TheStreet.com - August 28th, 2017
- This Swedish guy bet all his life savings on bitcoin and it made him 100 times richer - Business Insider Nordic - August 28th, 2017
- How To Gain Bitcoin Exposure Inside Of Your Traditional Brokerage Account - Seeking Alpha - August 28th, 2017
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- Why Motherboard Is Capitalizing 'Bitcoin' Again - Motherboard - August 28th, 2017
- New Bitcoin.com Charts: The Bitcoin Ecosystem at a Glance - Bitcoin News (press release) - August 27th, 2017
- Expert Predicts Bitcoin Will be Worth up to $20000 in the Next Three Years - Futurism - August 27th, 2017
- Does Bitcoin Have a Mining Monopoly Problem? - Fortune - August 27th, 2017
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- Bitcoin Prices Rise But Fall Short of All-Time High - CoinDesk - CoinDesk - August 26th, 2017
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- Bitcoin Investors, Beware: The IRS Is Coming for Your Vast Riches - TheStreet.com - August 26th, 2017
- Bitcoin's Lightning Network Moves Closer to Compatibility - CoinDesk - CoinDesk - August 26th, 2017
- A sketchy Satoshi has popped up to promote his new blockchain - The Verge - August 26th, 2017
- Bitcoin And Why You Think You're Right (Even When You're Wrong) - Seeking Alpha - August 26th, 2017
- Bitcoin and Ether rise, helping take crypto space above $150 billion market cap - MarketWatch - August 23rd, 2017
- Bitcoin Prices Are Up Over $100 Already Today - CoinDesk - August 23rd, 2017
- MGT Capital Raises $2.4 Million to Expand Bitcoin Mining Operation - CoinDesk - August 23rd, 2017
- Hackers Swipe Bitcoin by Stealing Your Cell Phone Number First - Inc.com - August 23rd, 2017
- Bitcoin rebounds after briefly entering correction territory - MarketWatch - August 22nd, 2017
- Here's Why Bitcoin Rose More than $1000 in Two Months - Futurism - August 22nd, 2017
- The IRS Has Special Software to Find Bitcoin Tax Cheats - Fortune - August 22nd, 2017
- Bitcoin Prices Dip Below $4000 to Hit 7-Day Low - CoinDesk - August 22nd, 2017
- China's two biggest bitcoin exchanges helped themselves to $150 million in idle client funds - Quartz - August 22nd, 2017
- Bitcoin Analysts Compete for the Highest Price Forecast - Bloomberg - August 21st, 2017
- A Bitcoin Law for Every State? Interest and Animosity Greet Model US Regulation - CoinDesk - August 21st, 2017
- Take Two: Bitcoin Miner BTCS Announces New Merger Deal - CoinDesk - August 21st, 2017
- Bitcoin About To Burst - Seeking Alpha - August 21st, 2017
- 10 Bitcoin Wallet Apps You Should Consider Using Today - HuffPost - August 20th, 2017
- Bitcoin-accepting shops leave cookie trail that crumbles anonymity - The Register - August 20th, 2017
- Bitcoin Trades Sideways as Bitcoin Cash Price Drops to $800 - CoinDesk - August 20th, 2017
- 'Bitcoin cash' surges 40% in single day as investors bet on its faster processing speeds - CNBC - August 19th, 2017
- 'Bitcoin cash' soars to record high above $900 as 'mining' profits jump - CNBC - August 19th, 2017
- Photos: Inside one of the world's largest bitcoin mines - Quartz - August 18th, 2017
- Bitcoin Surged to a New High Adding $17 Billion in Just Over a Week - Fortune - August 18th, 2017
- Another major country joins China and Japan in cracking down on bitcoin exchanges - CNBC - August 18th, 2017
- Bitcoin Cash Breaks Price Doldrums to Push Past $400 - CoinDesk - August 18th, 2017
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- Bitcoin Price Flies To More Than $4100 Over Weekend - PYMNTS.com - August 14th, 2017
- Why is Bitcoin worth more than gold? - Independent Online - August 14th, 2017
- Bitcoin breaks $4000 - BetaNews - August 13th, 2017
- Bitcoin just passed $4000 - TechCrunch - August 13th, 2017
- Bitcoin vaults to new record above $4K, boosted by Japan and multiplying its value fourfold - CNBC - August 13th, 2017
- What is bitcoin? - CoinDesk - August 12th, 2017
- Bitcoin surges to fresh record above $3500, beats gold amid the global market sell-off - CNBC - August 12th, 2017
- 'Blockchain technology will change the world': Fidelity Labs SVP - CNBC - August 12th, 2017
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- Howard Marks, who has called past market bubbles, says 'I don't understand what's behind bitcoin' - CNBC - August 11th, 2017
- Commerzbank's Curious Way to Get Bitcoin Exposure Without Actually Buying It - Bloomberg - August 11th, 2017
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