ARK Invest’s Director of Digital Assets, Yassine Elmandjra, announced that Bitcoin‘s hash power reached a historic high of 500 exahashes per second, marking a significant milestone for the leading cryptocurrency. This achievement underscores Bitcoin’s robustness and resilience in the crypto market.
Elmandjra emphasized the significance of this breakthrough by making striking comparisons. Currently, the Bitcoin network performs an astounding number of computational operations per second, equivalent to five billion calculations for every star in our galaxy.
To comprehend the scale of Bitcoin’s hash power, if every individual contributed one hash per second, it would take the global population approximately 2,000 years to match this rate. In terms of raw processing power per second, Bitcoin surpasses the world’s most powerful supercomputer by an impressive factor of 500.
Elon Musk, a leading proponent of cryptocurrencies and CEO of Tesla, acknowledged the success of Bitcoin’s new peak in hash power with a brief but potent message. Musk’s interest in crypto assets is well-documented, with Tesla holding a significant amount of 10,725 BTC and his past support for Dogecoin through tweets.
Bitcoin continues to overcome obstacles and reach new milestones, with Elon Musk’s response highlighting the growing importance of crypto assets in mainstream finance. Musk’s acknowledgment of Bitcoin’s technological prowess aligns with a broader trend of influential figures recognizing the significance and potential of cryptocurrencies. Consequently, Bitcoin’s record-breaking hash power, combined with Musk’s positive reaction, underscores the resilience and increasing relevance of crypto assets, solidifying their role in shaping the future of finance as the crypto world evolves and gains validation from influential figures like Musk.