Bitcoin Statistics for 2024 – Numbers That Will Make Your Head Spin
Key Findings
- Bitcoin holds 56% of the cryptocurrency market.
- Within nine years, Bitcoin’s price increased by over 1,200,000%.
- First bitcoins used to pay for pizza would be valued at $580 million today.
- Bitcoin’s market cap is valued at $1.1 trillion.
- There are over 300,000 Bitcoin transactions per day.
- A new bitcoin is mined every 10 minutes.
Bitcoin Price: Highs and Lows
The most interesting Bitcoin stat that gets everyone excited is, of course, its current price. At the time of writing this article, Bitcoin broke new all-time-high prices taking the cryptocurrency market on another bull run after price drops associated with COVID-19 in 2020.
- Bitcoin held no monetary value in 2009.
(Bitcoin Wiki)
- In 2010, bitcoinmarket.com opened the first Bitcoin exchange, and the price reached $0.08 in July of the same year. This was the currency’s first 100% price increase.
(Bitcoin Wiki)
- The first sudden price drop for Bitcoin happened in 2011 when its value fell from $31 to $2.
(Bitcoin Wiki)
- Another exciting landmark in Bitcoin price statistics was in November 2017 when it hit the $1,000 mark for the first time.
(Bitcoin Wiki)
- In January 2017, the price bounced back to $1,000 for the first time since January 2014.
(Live Coin Watch)
- December 2017 marks another milestone for Bitcoin – it reached $20,000, marking a growth of 1,000%.
(Coin Market Cap)
- February 2019 sees yet another drop in the price of Bitcoin. At the time, it was valued at around $3,400.
(Bitcoin Wiki)
- On March 13, 2021, Bitcoin’s all-time high reached $61,510.
(Live Coin Watch)
- The price of Bitcoin rose by more than 1,200,000% in the last nine years.
(Coin Dance)
Transactions: From Pizza to Tesla
Bitcoin usage statistics and transactions look starkly different in 2021 compared to 2009. The first users on the network mostly exchanged Bitcoin among themselves. However, these first transactions on the network have laid the groundwork for growth and Satoshi Nakamoto’s idea to take off.
- Satoshi completed the first BTC transaction in January 2009. He sent 50 BTC to Hal Finney for a 0 BTC fee. The transaction was recorded in block 170.
(Bitcoin.com)
- The first official sale of Bitcoin happened in October 2009, when 5,050 BTC was sold for $5.02. Martti Malmi, a Finnish developer, made this transaction via PayPal. With the current price, those 5,050 BTC are worth more than $290 million. Bitcoin statistics would record this as the lowest purchase price paid for BTC.
(The Verge)
- Laszlo Hanyecz bought two pizzas in May of 2010 for 10,000.99 BTC. This was the first time Bitcoin was ever used to purchase a good. The miner fee for this transaction was 0.99 BTC. The famous Bitcoin pizza would cost more than $580 million nowadays.
(Bitcoin.com)
- In July 2014, Ross Ulbricht aka Dread Pirate Roberts, the Silk Road creator, sent 1,607 BTC to pay for a murder-for-hire. The target was an individual who was extorting money from Ulbricht. Thankfully, investigators believe that no murder took place, even though blockchain statistics recorded this transaction.
(Bitcoin.com)
- Following Ulbricht’s arrest, Tim Draper, a venture capitalist, bought 30,000 BTC in a government auction selling seized assets from Silk Road. The price for this auction was $18 million. His purchase is now priced at $1.7 billion.
(Bitcoin.com)
- In 2021, there are more than 313,000 Bitcoin transactions per day.
(Blockchain.com)
- The average transaction value in 2021 is 1.76 BTC, which is more than $104,000, and the average transaction fee is 0.0003 BTC – about $17.
(BitInfoCharts)
- Tesla added Bitcoin as a purchase option and bought $1.5 billion worth of Bitcoin in 2021.
(CNBC)
Mining for Bitcoin
Bitcoin mining statistics show that most miners prefer joining mining pools to dig for digital gold. The hardware used for this process – ASIC miners – requires large amounts of electricity.
- Miners produce a new block approximately every 10 minutes.
(Blockchain.com)
- The average hash rate of the Bitcoin network in 2021 is 156.5 EH/s. One exahash equals 1 quintillion hashes.
(Blockchain.com)
- Daily mining revenue in 2021 stands at $58 million.
(Blockchain.com)
- One TH/s of computing power can earn 37 cents per day.
(BitInfoCharts)
- Bitcoin’s mining network consumes about 137 TWh of electricity annually.
(Cambridge University)
- The largest Bitcoin mining pool is F2Pool, with 21.5% of the total hash rate.
(BTC.com)
Bitcoin Market Cap
Cryptocurrency statistics show that the Bitcoin market is gaining momentum and presents an exciting opportunity for investors. A significant volume of Bitcoin goes through exchanges as it’s used to purchase both other cryptocurrencies and fiat currencies.
- Bitcoin has a market cap of $1.1 trillion.
(Live Coin Watch)
- Bitcoin holds 56% of the cryptocurrency market.
(CoinMarketCap)
- $54.5 billion is traded daily in Bitcoin.
(CoinMarketCap)
- 42% of the daily trade volume of Bitcoin goes through Coinbase.
(data.bitcoinity.org)
- To this day, 18.67 million bitcoins – out of 21 million that will ever exist in the lifetime of the cryptocurrency – have been minted.
(CoinMarketCap)
- Cryptocurrency stats show that the second most valuable cryptocurrency after Bitcoin is Ethereum. It holds 10.9% of the market.
(CoinMarketCap)
- Only three Bitcoin wallets in the world hold more than 100,000 BTC, making for 2.06% of all mined coins.
(CoinMarketCap)
- 27.9% of Bitcoin wallets contain 1,000 to 10,000 BTC.
(CoinMarketCap)
- The next Bitcoin halving is expected in April 2024. The block reward will drop from 6.25 to 3.125 BTC.
(BTC.com)
Bitcoin Users
Ever wondered who’s using Bitcoin? Bitcoin user statistics reveal some fascinating information about who is more inclined to adopt this financial innovation.
- Unsurprisingly, 8.14% of the Bitcoin community members come from the financial or investment services area. Another major group, constituting 3.72% of the community, are individuals with a background in software design, drawing, and animation.
(Coin Dance)
- Men are more interested in Bitcoin and account for 85.7% of Bitcoin community engagement.
(Coin Dance)
- The Bitcoin community has various affinities: 7.29% of the community are avid investors, 6.98% technophiles, 6.64% describe themselves as shutterbugs, another 5.92% – as movie lovers.
(Coin Dance)
- Bitcoin facts show that 41.35% of the Bitcoin community is 25 to 34 years old.
(Coin Dance)
Sources
Frequently Asked Questions (FAQ)
What percentage of Bitcoin is lost?
Experts estimate that about 20% of Bitcoin is lost permanently. With the current price of Bitcoin at approximately $58,000, it means that $222 billion is locked in wallets that users can’t access anymore.
What will Bitcoins be worth in 2050?
No one can predict the exact price of Bitcoin. However, if we look at Bitcoin’s history and crypto stats, it’s highly probable its price will rise. Some experts say that 1 BTC will reach $1 million in 2050. With increased adoption and more and more countries approving it as a legitimate currency, the price will continue its upward trend.
How long did it take Bitcoin to reach $1?
Since Bitcoin was first launched in 2009, it took almost two years to reach a $1 price in February 2011. It needed another two years to reach $1,000 for the first time, then again in 2017. That year, it reached $20,000, and now it stands at $58,000.
Can Bitcoin crash?
Bitcoin statistics show that the cryptocurrency had its ups and downs during its lifetime, and volatility is a common feature of a relatively new and small market. The cryptocurrency market is still relatively small. While it’s worth $1.96 trillion, and the Bitcoin market cap is $1.1 trillion, it is still less than Apple’s net worth, estimated at $2.08 trillion. Bitcoin’s price is expected to stabilize as the market grows.
Does Elon Musk own Bitcoin?
Elon Musk doesn’t own Bitcoin since it is decentralized and no one owns it. However, his company, Tesla, bought $1.5 billion worth of BTC in 2021.