Bitcoin Marks Its Name in The Guinness World Records

Subh Rath

October 20, 2022

Bitcoin was both the first and the most successful cryptocurrency ever created. It established a precedent that was subsequently followed by thousands of other cryptocurrencies. One of the most remarkable events responsible for the continued development of decentralization and the crypto community as a whole is the invention of bitcoin.

Since the advent of crypto, there has never been a steady acceptance of the technology. The cryptocurrency market, including bitcoin, has come a long way in a short time. The world of cryptocurrencies is likely ahead of other markets regarding the rate of adoption and technological advancement.

Bitcoin has recently been recognized as the cryptocurrency with the most extended history and the highest market value. El Salvador is known as the nation that was the first to accept it as a kind of legal cash.

Bitcoin has made its debut in the Guinness World Records and is now recognized as the “first decentralized cryptocurrency.” Ethereum previously held this achievement.

Bitcoin was included as a subheading under a much bigger category called “cryptomania,” under which the Guinness World Records discussed various other blockchain-related phenomena.

Bitcoin Recognized by Guinness World Records:

In the latest edition of the Guinness World Records, several essential products have made their way, including bitcoin, NFTs, and others. Under the “Cryptomania” section, Bitcoin earns the title from Guinness World Records as the world’s first and most valued cryptocurrency. At the time of writing, BTC’s market cap stands at $375,988,721,943.

According to the official statement:

“The Bitcoin network is solving the double spend problem with a “trustless” mechanism that does not require any third-party to verify transactions; and it achieves that with validators.” 

What’s More?

As the world of cryptocurrency is advancing and making new records worldwide with its wider adoption and user convenience, many crypto-related and Web3 projects have also gained recognition during this time. Bitcoin isn’t the only aspect of cryptocurrency that the Guinness World Records noticed and admired.

Instead, Deepak Thapliya’s acquisition of CryptoPunk #5822 on February 12 for the price of $23.7 million in ETH also won the CryptoPunks NFT collection, the title of “most expensive NFT collectible.” This accolade was bestowed upon the infamous CryptoPunks NFT collection. Although the artwork of Beeple was sold as an NFT in 2021 for the price of $69.3 million, it did not meet the criteria for a record-setting NFT, which was defined as “limited-edition collections of artwork constructed around pre-rendered templates.”

As of March 24, the reference date given in the book, the “most valuable fan token” was the Manchester City Fan Token, which had a market cap of $47.1 million at the time. As of right now, the total value of the token on the market has fallen all the way down to just $24.8 million.
In June of 2021, El Salvador became the “first country to embrace Bitcoin as legal tender,” earning them the title of “first country to earn the record.” The Central African Republic is the only other country that has done the same thing so far, and they did it in April of this year.