Bitcoin Gold
About Bitcoin Gold
The price of Bitcoin Gold (BTG) is $20.11 today, as of Sep 08 02:52 a.m., with a 24-hour trading volume of $785,587. Over the last 24 hours, the price has increased by 2.56%. Bitcoin Gold currently has a circulating supply of 17.51M and a market cap of $352.29M.
Bitcoin gold (BTG) was created when the Bitcoin Gold blockchain split from Bitcoin in October 2017 with the intention of reforming the mining process that secures the network. The community behind the project hoped to reduce the role of large miners operating capital-intensive specialized equipment by changing the underlying algorithm, giving smaller operations a chance to participate.
The BTG price hit a record high of $456.25 in December 2017 shortly after the cryptocurrency was launched, according to CoinGecko data. After the initial interest waned, BTG’s price sagged, hovering between $10 and $30 from 2018 to 2020. By March 2020, the price had lost 99% of its value, slumping to an all-time low of $4.25.
Because of the way Bitcoin Gold split from Bitcoin, in a radical change known as a hard fork, everyone who owned bitcoin at the time received BTG. That meant bitcoin gold’s supply was the same as bitcoin’s, and both have a supply cap of 21 million coins.
The Bitcoin Gold team created the blockchain in private. They mined about a half percent worth of the total blocks, giving the block rewards to themselves, to fuel the development.