Satoshi Nakamoto's Legendary Bitcoin Quote Rings True After 16 Years

U.Today - Bitcoin 's mysterious creator(s), Satoshi Nakamoto, continues to inspire the cryptocurrency community even several years after Bitcoin was launched and the BTC creator exited the scene.

Bitcoin historian Pete Rizzo recently shared on X (formerly Twitter) a statement made exactly 16 years ago by the Bitcoin creator, on Jan. 16, 2009: "I might make some sense just to get some in case it catches on."

"Satoshi Nakamoto on Bitcoin when the price was $0, exactly 16 years ago. Legendary," Rizzo wrote, highlighting Bitcoin’s creator statement.

This comment came days after Bitcoin launched and saw its first transaction. On Jan. 3, 2009, Satoshi Nakamoto mined the first block of the Bitcoin blockchain, known as the Genesis Block. On Jan. 12, 2009, Satoshi Nakamoto sent 10 BTC to computer scientist Hal Finney in the first-ever peer-to-peer Bitcoin transaction.

Many in the cryptocurrency world believe Satoshi's suggestion to "get some in case it catches on" was prophetic. Bitcoin has not only gained popularity but also established itself as a cornerstone of the cryptocurrency sector during the last 16 years.

Bitcoin was worth $0 at the time, but its value has since surged. At the time of writing, Bitcoin was trading at $99,332, having reached an all-time high of $108,268 on Dec. 17, 2024. Bitcoin has a current market valuation of $1.96 trillion, having reached $2 trillion in December.

Sixteen years later, Satoshi Nakamoto's words and vision are still relevant, demonstrating the timeless nature of these insights and Bitcoin's expanding influence.

Bitcoin regains $100,000Bitcoin reached $100,000 after posting its greatest increase of the year on reassuring U.S. inflation data, which buoyed global markets by reigniting bets on more Federal Reserve interest-rate cuts.

The digital asset blipped around the six-figure threshold in the early Thursday session, reaching highs of $100,880 and maintaining a more than 3% increase spurred by Bureau of Labor Statistics data the day before.

The report pointing to falling core consumer prices revived bets on another Fed rate cut in July, boosting equities as well as cryptocurrencies.

Source: Investing.com