Bitcoin is more expensive than $100,000. For the first time in history

Bitcoin has reached a historic high of over $100,000. According to Coindesk, it peaked at $103,700, and traded as high as $104,000 on Binance. At the time of writing, the price remains above $100,000, indicating strong interest in the cryptocurrency.

Bitcoin’s sharp rise has been accompanied by a rally in other cryptocurrencies. Etherium has reached $3,900, a significant recovery. However, this rise is unlikely to affect the graphics card market, as GPU mining remains unprofitable.

The rise in price has also brought back attention to early transaction stories. For example, the famous purchase of two pizzas for 10,000 BTC in 2010 is now valued at $1 billion, becoming a symbol of the early era of cryptocurrency. In addition, many recall the story of the lost hard drive with 8,000 bitcoins, the value of which would be $800 million today.

In April 2024, the Bitcoin cryptocurrency network experienced a decrease in the block reward, called halving.This process repeats itself every 210,000 blocks approximately once every four years and regulates the issuance of cryptocurrency. As a result of the fourth halving, the block reward in the Bitcoin network was halved, from 6.25 to 3.125 BTC.

Other cryptocurrencies have also shown an increase in rates in recent months, but Ethereum, which is especially valuable for gamers and PC enthusiasts, has not been able to stand out among them. This alternative cryptocurrency asset was the main reason for the “cryptocurrency boom” a few years ago, when its miners literally robbed stores, buying up almost all available video card models and raising their retail prices by two to three times. Nowadays, mining on video cards has become less profitable than before.