Bitcoin continued its strong bull run into 2021, reaching new all-time highs multiple times. The price surged to nearly $65,000 in April, driven by increasing institutional adoption, endorsements from high-profile figures like Elon Musk (though his stance later became more nuanced), and the public listing of Coinbase, a major cryptocurrency exchange. 

A significant milestone was El Salvador’s adoption of Bitcoin as legal tender in September, the first country to do so. However, the year also saw increased regulatory pressure, particularly from China, which intensified its crackdown on cryptocurrency mining and trading, leading to a significant migration of Bitcoin’s global hash rate. 

After a mid-year correction, Bitcoin rallied again to a new all-time high of over $68,000 in November, before experiencing another downturn towards the end of the year. The rise of NFTs and broader DeFi ecosystems also captured significant attention, sometimes diverting focus from Bitcoin.

Bitcoin Milestones in 2021

• February: Tesla announced a $1.5 billion Bitcoin purchase and briefly accepted it for vehicle payments.
• April: Bitcoin reached a then all-time high of nearly $65,000. Coinbase went public via a direct listing (COIN) on Nasdaq.
• May/June: China intensified its crackdown on Bitcoin mining and trading, causing a price drop and a shift in global mining distribution. Tesla suspended Bitcoin payments citing environmental concerns.
• September 7: El Salvador officially adopted Bitcoin as legal tender.
• November: Bitcoin hit its current all-time high of over $68,000. The first Bitcoin futures-linked ETF (BITO) launched in the U.S.