In this article, we’re going to dig into some surprising Bitcoin facts you need to know. The world’s most popular digital currency (for now) is Bitcoin. It still holds a roughly 35% dominance over all other cryptocurrencies according to coinmarketcap.com. Though its dominance is decreasing as time moves on and newer better cryptocurrencies start gaining traction, for now it’s still the most valuable and the most widely used.
For the majority of the general public and even many Bitcoin investors, explaining what it is and how it works still proves to be a challenge. Though the name was brought into the public eye recently after the late 2017 price rally, most people still have no idea what Bitcoin actually is, let alone how it works.
If they were to try, they’d probably throw around some buzz words like digital currency, mining and stock market, with no real understanding of what they’re actually talking about.
10 Surprising Bitcoin Facts You Need To Know
1. After analysing the Bitcoin price every day since it’s invention, the day with the highest Bitcoin price and arguably the best day to own Bitcoin is 13th December!
3. The world’s first ever Bitcoin ATM was located in Vancouver, Canada!
4. Black market trading on the deep web was one of the first widely adopted use cases for Bitcoin. The first of which was the infamous and now closed down, Silk Road! Silk Road alone is estimated to have accounted for around 10% of the Bitcoin economy at the time.
5. Lamborghini was the first car company to accept Bitcoin!
6. There are now 17 Million Bitcoins in circulation. That means just 0.24% of the worlds population can own a full Bitcoin.
7. 90% of all Bitcoin wallets hold less than 0.1 BTC
8. Chinese mining pools control around 70% of the Bitcoin network’s collective hashrate.
9. Satoshi Nakamoto‘s inactive Bitcoin wallet still holds around 1 Million BTC!
10. The Bitcoin price is strongly correlated with Google search volumes! When search volumes increase, so does the price and vice versa.
We hope these 10 Bitcoin facts surprised you and you enjoyed reading them.