Crypto
Bitcoin's $7.97 to $80K: A Journey Through Boom and Bust
Fifteen years ago, Bitcoin closed at $7.97 on September 5, 2011.
This marks a significant milestone in the history of Bitcoin, which has seen numerous booms and busts over the years.
In June 2011, the price reached $31.91 before plummeting to $7.97 just days later, representing a 75% decline from its peak.
This means that buying Bitcoin at $8 in September 2011 was not investing in an obvious winner, but rather a distressed asset with a highly uncertain future.