The bitcoin network reached a major milestone by processing its billionth transaction yesterday, an achievement that comes 15 years and 4 months after the bitcoin genesis block was mined on January 3, 2009.
<blockquote class="twitter-tweet”>
ONLY IN: twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin has officially processed more than 1 billion transactions. pic.twitter.com/bFbSW5NEAW
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1787236917353845195?ref_src=twsrc%5Etfw”>May 5, 2024
At an average rate of bitcoin.clarkmoody.com/dashboard/”>178,475 transactions per day Over its 5,603-day lifespan so far, bitcoin has demonstrated the ability to handle significant volume securely without centralized intermediaries.
Many early critics argued that no one would use bitcoin, but today, the network handles daily transaction volumes on par with major payments giants.
This milestone also comes on the heels of bitcoin's recent all-time high above $73,000 in March 2024. The excitement around the latest halving event and new protocols like Ordinals and Runes have fueled surges in network activity.
In total, April 23 saw a single-day transaction record above 926,000, and although volume has moderated from those highs, bitcoin continues to average over 600,000 transactions in May 2024.
<img src="https://bitcoinmagazine.com/.image/c_fit%2Ch_800%2Cw_1200/MjA0MzE5MTg5MTE1NDc5NDkz/bm-x-unchained-article-cta—learn-more.png”>
By reliably facilitating one billion transactions in just 15 years, bitcoin has proven its resilience and ability to scale. And with adoption accelerating, bitcoin appears poised to reach the next billion transactions at an even faster pace.
The milestone highlights how far bitcoin has come since its early experimental days. What was once dismissed as an enthusiast's playground is now a trillion-dollar asset class that is too important for institutions to ignore.
<script async src="https://platform.twitter.com/widgets.js” charset=”utf-8″>
