On Its 14th Birthday, Bitcoin’s 1,690,706,971% Gain Looks Normal

Happy Birthday Bitcoin! It was on this day 14 years ago that the first Bitcoin block was mined. Despite numerous doubters, haters, and premature obituaries, its performance has been quite impressive.

Even after the first block was mined, it took awhile for the coins to have a market price. There was a transaction in October 2009, where 5050 coins were sold for $5.02, giving each one a price of roughly $0.00099. Since then the price is up around 1,690,706,971%. Not bad at all.

Since we’re not used to seeing numbers like 1,690,706,971% in traditional finance, it would appear as ...