#BTC
History of Bitcoin
1. Origin (2008)
Bitcoin was proposed in October 2008 by an unknown person or group using the pseudonym Satoshi Nakamoto.
A whitepaper titled
“Bitcoin: A Peer-to-Peer Electronic Cash System”
was published.
Aim:
To create a decentralized digital currency
No control by governments or banks
Secure, transparent, and trustless transactions
2. Launch of Bitcoin (2009)
January 3, 2009:
First Bitcoin block mined → Genesis Block (Block 0)
Block reward: 50 BTC
First Bitcoin software released.
First transaction:
Satoshi sent 10 BTC to Hal Finney.
3. Early Adoption (2010–2012)
2010:
First real-world transaction:
10,000 BTC used to buy 2 pizzas (Bitcoin Pizza Day – May 22)
Bitcoin value was less than $0.01
Bitcoin exchanges began (e.g., Mt. Gox).
Used mainly by programmers and cryptography enthusiasts.
4. Growth & Volatility (2013–2016)
Bitcoin price crossed $1,000 in 2013.
Increased media attention.
Issues:
Exchange hacks (Mt. Gox collapse in 2014)
Regulatory concerns by governments
Despite problems, blockchain technology gained recognition.
5. Mainstream Attention (2017)
Bitcoin reached nearly $20,000.
Huge public interest and investment.
Many new cryptocurrencies (altcoins) emerged.
Governments began framing crypto regulations.
6. Institutional Acceptance (2020–2021)
Bitcoin seen as “digital gold”.
Major companies and institutions invested:
Tesla
MicroStrategy
2021:
Bitcoin hit an all-time high of about $69,000.
El Salvador adopted Bitcoin as legal tender.
7. Recent Developments (2022–Present)
High volatility due to:
Global inflation
Interest rate hikes
Crypto exchange failures
Growth in:
Bitcoin ETFs
Regulation and compliance
Use as long-term store of value
Bitcoin remains the largest and most trusted cryptocurrency.
