>> Bitcoin turned ten on Wednesday with the elusive creator Satoshi Nakamoto founding the cryptocurrency on this day in 2008. Are investors celebrating though? I'm Tom Wilson, Reuters cryptocurrency correspondent based in London. For investors who bought Bitcoin at the start, it's been a really wild ten years. Even though there have been relative periods of stability until last year, we started to see retail investors really start to buy this.
And that pushed the price up to a record high of nearly $20,000 in December. It increased 1300% last year. Since then, it's slumped to about 70%, regulators cracked down. Questions are being raised about how this is used, but now we're seeing a period of relative stability. But it's still been quite an edge of the seat ride for investors.
We spoke to about a dozen early adopters of Bitcoin, people who got in there very early. Although most of them were fairly optimistic, quite a few said that they've become pretty disillusioned with the way that Bitcoin hadn't caught on for its original purpose, which is payments. A lot of them have started to use or invest in alternative blockchains.
That's the technology that Bitcoin is based on. They're moving towards blockchains which can be used for settling contracts in real time and so on. Other people, at the same time, have raised concerns about how insecure lots of Bitcoin exchanges are. There have been a number of major hacks of these.
2014, Mt. Gox in Japan, and since then even this year, there have been a number of major thefts of cryptocurrency. On Wednesday, Bitcoin's tenth birthday, there still isn't really any consensus about where this is going. Real believers say that this is bound to be used more widely for payments, transferring money between borders, remittances.
But skeptics still really say this isn't backed by anything, it's not going anywhere. The foundation of world finance economics is still too hard for Bitcoin to break down.