On January 14th, 2015, there were 114,787 bitcoin transactions.

Today Nic Cary, the CEO of Blockchain, declared in his Twitter account: “Bitcoin utility is in the transactions not the price. Yesterday we set a record”. Indeed, on January 14th, the number of bitcoin transactions reached 114,787.

As we have previously noted, the number of bitcoin operations is constantly growing. As a Blockhain.info graph shows, they measured in hundreds in 2009, in thousands in 2010-11, and in tens of thousands since the second half of 2012. In 2014, the number of bitcoin transactions generally oscillated between 47,000 and 80,000 per day, growing steadily by the end of the year.

There are many possible reasons for this growth. The expansion of the bitcoin infrastructure means that not only can bitcoins be used more widely, but more possibilities for changing them into fiat money are also available. Because of the falling price of bitcoin, many holders of the cryptocurrency rush to sell their stock but, at the same time, many others buy bitcoins, confident that the price will go up again.

In any case, this is one more indication that the recent decline in bitcoin prices does not mean the decline of bitcoin itself. As Andreas Antonopoulos wrote on Twitter, “I first got really excited about bitcoin when it was $5 each. It worked then. It works now, plus 500 startups and $250m in seed capital”.