Bitcoin silenced skeptics after first hitting $1 in 2011, outlet reports

Bitcoin's initial surge past one dollar in 2011 was met with skepticism that was ultimately silenced by a subsequent rally, U.Today reported. The cryptocurrency first surpassed the $1 mark in February 2011 but fell to around $0.8 during a correction in March. At the time, skeptics predicted Bitcoin would never reclaim the one-dollar level. However, it surprised critics by recovering to one dollar about a month later on April 14. The upward trend continued through the end of the month, with Bitcoin closing April at $3.44, marking a monthly gain of 335.3%.