ARK Invest’s Director of Digital Assets, Yassine Elmandjra, announced a historic milestone as Bitcoin’s hash power surged to 500 exahashes per second, showcasing the cryptocurrency’s resilience. Elmandjra highlighted this achievement by drawing comparisons, emphasizing the vast computational operations performed by the Bitcoin network.
To grasp the enormity of Bitcoin’s hash power, if every person contributed one hash per second, it would take the global population around 2,000 years to match. In terms of raw processing power per second, Bitcoin outpaces the world’s most powerful supercomputer by a factor of 500.
Elon Musk, a prominent supporter of cryptocurrencies and CEO of Tesla, acknowledged Bitcoin’s hash power peak with a succinct yet impactful message. With Tesla holding 10,725 BTC and Musk’s history of endorsing Dogecoin, his recognition further amplifies the success of Bitcoin in overcoming hurdles and achieving new milestones.
This acknowledgment aligns with a broader trend of influential figures recognizing the significance of cryptocurrencies. Bitcoin’s record-breaking hash power, coupled with Musk’s positive response, underscores the growing importance and resilience of crypto assets, solidifying their role in shaping the future of finance amidst increasing validation from influential figures like Musk.
