Satoshi

Satoshi Nakamoto

Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Bitcoin historian Pete Rizzo recently revisited a profound statement by the pseudonymous creator of Bitcoin, <a href="https://u.today/satoshis-bitcoin-message-still-rings-true-14-years-on-details" rel="noopener noreferrer nofollow">Satoshi Nakamoto</a>, that still resonates with the cryptocurrency community today.
In a tweet, Rizzo highlighted this significant piece of Bitcoin history, taking the community back to the early days of Bitcoin. Rizzo <a href="https://x.com/pete_rizzo_/status/1817538208231813457" rel="noopener noreferrer nofollow">shared</a> Satoshi's statement, which dates back to nearly 14 years ago: "If you dont believe it or dont get it, i dont have time to try to convince you, sorry."
<blockquote>
 ✨ Satoshi Nakamoto on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> at $0.07, exactly 14 years ago. Believe it 🚀 <a href="https://t.co/M4N1JQWRjR" rel="noopener noreferrer nofollow">pic.twitter.com/M4N1JQWRjR</a>— The Bitcoin Historian (@pete_rizzo_) <a href="https://twitter.com/pete_rizzo_/status/1817538208231813457?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 28, 2024</a>
</blockquote>
At that time, <a href="https://u.today/bitcoin-btc-last-seen-under-10000-four-years-ago-today" rel="noopener noreferrer nofollow">Bitcoin</a> was a nascent and obscure digital asset, largely dismissed by mainstream financial institutions and the public and traded at nearly $0.07.
However, Satoshi's words were a clear indication of his vision and conviction. Rather than convincing skeptics, Satoshi focused on building and improving the Bitcoin network, allowing its success to speak for itself.
Bitcoin has come a long way since that statement. From a mere $0.07, Bitcoin's price has soared to tens of thousands of dollars, garnering interest from financial institutions and governments worldwide. Its rise has been accompanied by increased adoption, technological advancements and a thriving community.
At the time of writing, BTC was up 3.1% in the last 24 hours to $69,474, having reached an all-time high of nearly $74,000 in mid-March.
<h2 id="bitcoin-continues-to-outshine-criticism">Bitcoin continues to outshine criticism</h2>
Even today, Satoshi's statement remains validated. The cryptocurrency industry continues to face skepticism and criticism, particularly for new projects and developments, which are frequently met with uncertainty. Nonetheless, the community has a strong emphasis on building.&nbsp;
In a recent incident, Bitcoin critic and gold bug <a href="https://u.today/peter-schiff-reacts-to-bitcoin-price-surge-past-66000" rel="noopener noreferrer nofollow">Peter Schiff</a> was taken aback when 87% of over 11,000 Bitcoin holders who responded to his poll on X said they would not sell any of their Bitcoin even if the price collapsed over 99% to $120. Not only did they claim they would not sell but that they would keep buying more even on the way down.
Schiff, who continues to criticize the value proposition of Bitcoin, surprisingly admitted that "the main sell point for investors to buy Bitcoin is its great track record of past performance" and that "it doesn't matter how much money one loses on Bitcoin, it still fixes everything. It's digital gold no matter how low the price falls."

Satoshi Bitcoin Statement at $0.07 Rings True Even Now: Details

Table of Contents

U_Today

Other articles published on Jul 29, 2024

Trump Vows to Make US ‘Crypto Capital of the Planet,’ Promises to Fire SEC Chair Gary Gensler on ...

Bitcoin Surges Past $70,000 Mark

Bitcoin Nears $70,000: Only 5.7% Shy of Its All-Time Peak

Cardano Node v.9.1.0 Released with Key Features for Chang Upgrade

Solana Consolidates as Bulls Strive to Drive Price Above $200 Level

Bitcoin Sentiment Soars to 16-Month High Amid Price Rally and Trump’s Crypto Vision

Join our free newsletter for daily crypto updates!