Milestone Achieved

On September 11, 2021, Bitcoin miners crossed the impressive threshold of 700,000 blocks. This occasion is like celebrating your grandma’s 100th birthday, but with more virtual confetti and less cake. Detractors may claim Bitcoin has ‘died’ 428 times since its inception in 2009, but here it stands, firmer than a coffee addict’s grip on their cup each morning.

The Speedy Journey

Following the last milestone of 600,000 blocks, which was reached on October 18, 2019, Bitcoin produced an additional 100,000 blocks in less than two years. Back then, BTC was twinkling at under $8,000 per coin. Fast forward to today, and Bitcoin’s current price boasts a staggering value of over $45,500. Talk about a glow-up!

Bitcoin in Numbers

As of the 700,000th block, a big chunk of Bitcoin’s total supply is already on the market—18,812,806 BTC at 89.5% of total coins that will ever exist. Bonus fact: blocks are generally churned out every 10 minutes, but be warned—the timing can be a bit moody due to mining difficulty adjustments that happen roughly every two weeks.

Dancing In Memory

Crypto enthusiasts took to Twitter, channeling the late Hal Finney, one of Bitcoin’s earliest influencers, with a quote reflecting on Bitcoin’s endurance: “Every day that goes by and #Bitcoin hasn’t collapsed… that brings new information to the market”. These words hold weight in a market that celebrates survival and evolution.

Bitcoin’s Energy Debate

While Bitcoin’s energy consumption is frequently a hot topic, it’s essential to clarify that its footprint is a mere blip in comparison to global energy use. Some clever folks in the industry estimate that in the U.S., over 50% of Bitcoin mining is powered by renewable energy. So next time somebody bemoans mining’s environmental effects, you can toss this stat back at them like a well-crafted dodgeball throw.

The Rise of Cryptocurrency

Thanks in part to Bitcoin’s unwavering journey, cryptocurrencies have exploded into an asset class worth over $2 trillion. Bitcoin alone holds 41% of that market, valuing it at approximately $857 billion. It seems even the skeptics can’t put this technological juggernaut in a corner!