The Bitcoin network has added a new feather to its hat as it has just crossed a new milestone. The network has now successfully handled in its lifetime, more than 500 million unique transactions.
Bitcoin was created in 2008 by an unknown person or people called Satoshi Nakamoto. The network eventually went live in 2009. Bitcoin is the first decentralized cryptocurrency to ever be invented and it has come a long way from its early days to this point.
Proper utility for Bitcoin began back in May 2010 when it was used to purchase two pizzas. At the time, the purchase was made by a Laszlo Hanyecz who bought the pizzas for 10,000 BTC. This was the first time Bitcoin was used in a physical transaction.
Today, Bitcoin is currently trading at $9,770 and the network has successfully handled more than 500 million transactions since it went live. Back in November 2017, Bitcoin hit its all-time high of $20,000.
Bitcoin’s halving is expected in May 2020. The halving is an event that happens every four years and cuts miner block rewards by 50%. Bitcoin is expected to hit $90,000 after the halving.