Bitcoin Reached Dollar Parity for Last Time Fourteen Years Ago
The technological singularity, as stated by Ray Kurzweil, could occur in about 20 years, suggesting a merging of humans and machines. Meanwhile, Bitcoin has reached significant milestones over the past 14 years.
Key Milestones Related to Bitcoin
- Bitcoin last traded below $1 on this date 14 years ago, marking an event termed "the Coinvergence."
- In February 2011, Bitcoin briefly surpassed $1 for the second time but fell back to under $0.70 shortly after.
- This period contributed to Bitcoin's growing market presence and acceptance for real goods and services.
- Dollar parity was largely symbolic, indicating Bitcoin's rapid increase in value from earlier stages when $1 bought over 1,300 BTC.
- Since reaching dollar parity, Bitcoin has not fallen back below $1, except during a flash crash in June 2011.
- Kurzweil's predictions include a future where AI surpasses human intelligence, radically transforming life as we know it.
- The relevance of Bitcoin in shaping financial autonomy is highlighted alongside discussions about future milestones, such as potentially reaching $1 million per coin.
Bitcoin's evolution raises questions about its next milestone, possibly dubbed the "Satoshilarity."