In 2016, when Donald Trump won the presidential election, Bitcoin's price continued its slow but steady appreciation throughout the year. It spiked to $750 in June before closing the year just shy of the $1,000 mark. This growth was largely driven by the increasing strength of the Bitcoin network, which saw its hash rate top 1 exahash/second for the first time.
The year 2016 was also significant for Bitcoin's adoption, with more companies starting to accept the cryptocurrency. Microsoft, for instance, began accepting Bitcoin for purchases on their websites.
Key Highlights of Bitcoin in 2016:
- Price Spike: Bitcoin's price spiked to $750 in June 2016
Network Strength
-: Bitcoin's hash rate topped 1 exahash/second, reflecting the growing computing power committed to the network
- Adoption Growth: More companies, like Microsoft, started accepting Bitcoin for purchases
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- Closing Price: Bitcoin closed the year just shy of the $1,000 mark.
Overall, 2016 was a positive year for Bitcoin, setting the stage for its massive growth in 2017.
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