Bitcoin turns sixteen amid record surge

The world’s biggest and best-known cryptocurrency has turned sixteen.

From mysterious beginnings, Bitcoin has catapulted itself into the digital currency spotlight, capturing the attention of not just investors but also governments and world leaders.

Last month, Bitcoin’s record rally topped $107,000 after Donald Trump said he planned to create a US Bitcoin strategic reserve similar to that of oil.

2.2 percent of Bitcoin’s total supply was held by governments as of July 2024, according to CoinGecko.

The US possesses nearly 200,000 Bitcoins valued at more than $20bn at current levels.

China, the United Kingdom, Bhutan and El Salvador are the other countries with a significant amount of Bitcoins.

In Africa, Central African Republic (CAR) became the first country to approve Bitcoin as legal tender in 2022.

The move was seen as an attempt to de-risk from the France-backed CFA as Moscow and Paris competed for influence in the central African country.

Bitcoin has surged more than 50 percent since Trump's election in November.