- Crypto exchange Coinbase has released a Bitcoin halving commercial.
- The Coinbase halving ad pays tribute to the historic Bitcoin Pizza purchase.
- Anticipation is peaking for the fourth Bitcoin halving.
As the fourth Bitcoin halving approaches, anticipation within the crypto community has reached unprecedented levels. With less than 500 blocks to go, the countdown to the prescheduled quadrennial event has officially commenced, driven by the expectation for it to catalyze a bullish trend for the crypto king and the broader asset class.
Adding to the excitement, the crypto exchange Coinbase has unveiled a new commercial that pays tribute to the original crypto’s growth over the years.
Coinbase Tributes Bitcoin in Halving Ad
The ad, recalling Bitcoin’s historic pizza day, when the first real-world transaction using BTC took place, celebrated the asset’s growth since inception, moving from point $0 to its present $62,000 value.
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Highlighting the number of pizzas one can purchase with BTC has significantly increased since the first two, the Coinbase “over time, your money gets you less; does Bitcoin?” line underscores the role of Bitcoin as an asset that appreciates with time, compared to traditional fiat, which is designed to decrease in value.
The tribute echoes the incremental growth seen in each four-year cycle due to Bitcoin halving, characterized by the reduction of supply. This phenomenon propels an upward trajectory in the asset’s value. Reflecting on this journey has spotlighted the iconic moments that have defined BTC’s 15-year history.
Bitcoin White Paper
Its journey needed to commence from somewhere for a token that has grown over 2 million percent since inception. On October 31, 2008, the official catalyst for today’s decentralized finance system, the Bitcoin white paper, was published.
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Titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” the twelve-section document was submitted to a cryptography mailing list by the pseudonymous founder or group of founders of Bitcoin, Satoshi Nakamoto, following a months-long downturn in the traditional financial world.
The nine-page document highlighted the vision for a transparent financial system in which transactions are recorded in a public ledger and consensus is achieved through a proof-of-work mechanism.
On October 31, 2023, the crypto community celebrated the 15th anniversary of the Bitcoin white paper, without which BTC, other crypto crypto assets, or blockchain transactions would never have existed.
Inaugural Bitcoin Transfer
Nine days after Block 0 was mined on the blockchain, Hal Finney, a popular Satoshi associate and an early Bitcoin supporter and contributor, became the first recipient of BTC from Satoshi Sakamoto.
On January 12, 2009, Finney received 10 BTC in the first peer-to-peer Bitcoin transaction, recorded in block 170 of the Bitcoin blockchain.
Bitcoin Pizza Day
We have mentioned Bitcoin Pizza Day; however, explaining its details is the core of establishing Bitcoin’s journey. On May 22, 2010, a Bitcoin miner, Laszlo Hanyecz, offered to purchase some boxes of pizzas in Jacksonville, Florida, for 10,000 BTC.
Jeremy Sturdivant received the order and delivered two boxes of pizza to Hanyecz’s home. Following this, other firsts occurred in 2010, such as Bitcoin’s first mobile and escrow transactions. Additionally, on November 6, 2010, BTC exceeded US$1 million in total value locked (TVL), leading the market giant to unprecedented heights.
While Bitcoin did not have a specific value then, the value paid for the two pizza boxes has surged over time and is presently approximately $628 million.
Bitcoin-Led 2021 Crypto Bull Run
Eleven years later, the crypto industry experienced one of the most eventful years in its history. Of course, Bitcoin was at the forefront of market performance, crossing several all-time bars for the first time.
On November 10, 2021, the crypto king reached a now-dethroned peak of $68,991.85, edging other assets, including Ethereum.
Bitcoin’s New All-Time High
Following Bitcoin’s record-setting performance in 2021, the token weathered a lengthy period of turbulence. However, once again, due to the inherent volatile nature of the industry, the crypto rose to new highs, surpassing a new all-time high of $73,738.00 on March 14, 2024.
On the Flipside
- While Bitcoin’s current value showcases its impressive growth since its inception, occasional setbacks and severe price fluctuations have also marked the crypto king’s path.
- To date, no one knows Satoshi Nakamoto’s true identity.
- At press time, BTC is trading at $63,733, recording only a 1% increase in the last 24 hours.
Why This Matters
Building on the Bitcoin pizza purchase highlighted in the Coinbase ad, these moments collectively have shaped Bitcoin’s trajectory to its position as a leading asset, underscoring its value proposition and potential to revolutionize the financial system as we know it.
Read more about Craig Wright’s tussle for Satoshi Nakamoto’s name:
Satoshi Identity: Craig Wright Fans Reject Court Ruling
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