Bitcoin was launched in January 2009, and its recognition and use has been steadily increasing ever since. Although there were moments when Bitcoin’s future seemed uncertain, its growing popularity gradually built its credibility to the point where it is today.
We believe that Bitcoin reached a critical tipping point around 2020, establishing itself as a legitimate, lasting, and valuable asset class.
Here in this comprehensive guide to Bitcoin’s evolution, we have compiled a list of some of the most significant milestones in Bitcoin’s journey since its inception.
2007
The journey of Bitcoin began in 2007 when an individual or group of individuals under the pseudonym Satoshi Nakamoto started working on the blockchain code. This marked the inception of what would become the world’s first decentralized cryptocurrency.
2008
August 18, 2008: The Bitcoin.org domain name is registered.
October 31, 2008: Satoshi releases the Bitcoin whitepaper, titled Bitcoin: A Peer-to-Peer Electronic Cash System on the Cryptography Mailing List at metzdowd.com.
November 16, 2008: Satoshi shares a pre-release version of the Bitcoin blockchain code with select members of the Cryptography Mailing List, including Harold ‘Hal’ Finney.
The Cryptography Mailing List was created by Perry Mitztger as the successor to the Cypherpunks Mailing List. It was intended for discussions on cryptography, cryptocurrencies, and similar subjects. Since the participants were like-minded individuals familiar with the concepts, it made sense for Satoshi to reach out to members of this list.
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2009
January 3, 2009: Satoshi Nakamoto mined the first block of the Bitcoin blockchain, known as the genesis block. This block yielded a reward of 50 BTC and marked the official launch of the Bitcoin network. Interestingly, Satoshi refrained from mining during the first five minutes following the creation of the genesis block, allowing other miners a chance to earn some BTC and distribute them to as many holders as possible.
January 8, 2009: Just five days after mining the genesis block, Satoshi releases the BTC source code to the public through the Cryptography Mailing List. This version was only compatible with Windows. It laid the foundation for the development and expansion of the Bitcoin network.
January 12, 2009: Satoshi sends Hal Finney 10 BTC as a test transaction, making this the first ever BTC and cryptocurrency transaction. This transaction demonstrated the functionality of the Bitcoin network and paved the way for future transactions.
October 5, 2009: New Liberty Standard became the first Bitcoin exchange service, allowing users to purchase BTC for USD through PayPal. The exchange set the initial price of Bitcoin at 1,309 BTC to $1 USD, marking the beginning of Bitcoin’s journey as a tradable asset.
November 22, 2009: Satoshi creates his account on the newly formed BitcoinTalk forum. Satoshi Nakamoto created an account on the BitcoinTalk forum, which replaced the previous Bitcoin forum. BitcoinTalk became a hub for discussions about Bitcoin and other cryptocurrencies, evolving into a platform for trading, information sharing, and community building.
2010
March 17, 2010: Bitcoinmarket becomes the first cryptocurrency exchange platform, with BTC priced at around $0.003 USD
May 2, 2010: Lazslo Hanyecz, a developer and early Bitcoin adopter, released the binary code that enabled BTC mining on Mac OS X. This development expanded the accessibility of Bitcoin mining to Mac users and contributed to the growth of the Bitcoin network.
May 22, 2010: Laszlo and Jercos make history with the first real-world trade for a tangible asset, exchanging 10,000 BTC for two Papa John’s pizzas. This event is now fondly referred to as ‘Pizza Day.’ This event, now celebrated as ‘Pizza Day,’ highlighted Bitcoin’s potential as a medium of exchange.
August 15, 2010: A significant flaw in the Bitcoin blockchain protocol was discovered on August 15, 2010. This flaw allowed someone to create and send over 184 billion BTC to two addresses. To correct this issue, a fork was implemented to undo the transaction and restore the integrity of the blockchain.
November 1, 2010: bitboy introduces the Bitcoin logo on BitcoinTalk that we are now familiar with. This logo replaced Satoshi’s original iterations and has since become an iconic symbol of Bitcoin.
December 12, 2010: Satoshi posts his final comment on BitcoinTalk. This marked the last known communication from the mysterious creator of Bitcoin, who has remained anonymous ever since.
2011
February 2011: Ross William Ulbricht launched Silk Road, a website designed to facilitate the trade of illegal goods and services. Bitcoin was adopted as the medium of exchange on Silk Road, which tarnished Bitcoin’s reputation in its early years.
April 2011: Bitcoin surpassed the $1.00 USD threshold for the first time, marking a significant milestone in its journey as a digital currency.
April 17, 2011: Namecoin is launched as the first altcoin. It was created as an alternative to Bitcoin and aimed to provide decentralized domain name registration.
May 2011: Room 77, a bar and restaurant in Berlin, became the first brick-and-mortar store to accept cryptocurrency in May 2011. This event demonstrated the potential for Bitcoin to be used in everyday transactions.
June 13, 2011: On June 13, 2011, Mt. Gox, the largest cryptocurrency exchange at the time, suffered a hack that resulted in the theft of over 25,000 BTC from around 478 accounts. This incident highlighted the security vulnerabilities of cryptocurrency exchanges.
Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions. https://www.investopedia.com/terms/b/bitcoin.asp
2012
January 15, 2012: The TV show The Good Wife aired an episode titled “Bitcoin for Dummies,” making it the first TV show to reference Bitcoin as a main subject. This episode brought Bitcoin into the mainstream media and increased public awareness of the cryptocurrency.
November 28, 2012: The Bitcoin blockchain underwent its first halving on November 28, 2012. This event reduced the mining reward from 50 BTC to 25 BTC, in accordance with Bitcoin’s deflationary monetary policy.
2013
March 12, 2013: The Bitcoin blockchain underwent a hard fork from version 0.7 to 0.8. However, due to coding issues, the developers and users decided to revert to the previous version, resulting in a loss of 36,000 BTC that had been mined on the new chain.
April 1, 2013: Bitcoin reached the $100 USD milestone for the first time. This marked a significant increase in Bitcoin’s value and demonstrated growing interest and investment in the cryptocurrency.
June 23, 2013: The US Drug Administration announced its first seizure of Bitcoin. This event marked the first time a government agency had claimed to seize BTC, highlighting the increasing regulatory scrutiny of cryptocurrencies.
October 1: Ross Ulbricht, the founder of Silk Road, was arrested on October 1, 2013, and the website was shut down. Users attempting to access the site were met with an FBI announcement stating, “THIS HIDDEN SITE HAS BEEN SEIZED.”
October 13, 2013: The first BTC ATM is opened in Vancouver, Canada. This ATM allowed users to buy and sell Bitcoin for cash, making it easier for people to access and use Bitcoin in their daily lives. The introduction of Bitcoin ATMs marked a significant step towards mainstream adoption of the cryptocurrency.
November 13, 2013: The University of Nicosia in Cyprus begins accepting BTC for tuition payments.
November 27, 2013: BTC hits $1,000 USD for the first time. This significant increase in value reflected the growing interest and investment in Bitcoin, as well as its potential as a store of value and medium of exchange.
2014
December 11, 2014: Microsoft begins accepting BTC payments for its US-based customers from their online store only. This move by a major tech company further legitimized Bitcoin and demonstrated its potential for use in mainstream commerce.
2015
April 13 , 2015: The Free Republic of Liberland was founded on April 13, 2015, as a micronation on unclaimed land between Croatia and Serbia. Bitcoin was adopted as its official currency, highlighting the cryptocurrency’s potential for use in new and innovative ways. Although Liberland is not recognized by any major nation, it has garnered attention for its unique approach to governance and currency.
2016
March 4, 2016: The Japanese Cabinet approves a series of bills that would recognize BTC and cryptocurrency as a financial instrument. This made Japan the first country to officially recognize cryptocurrencies in this way. The recognition of Bitcoin as a financial instrument paved the way for further adoption and regulation of cryptocurrencies in Japan.
2017
August 17, 2017: Bitcoin Cash (BCH) was created on August 17, 2017, when a group of Bitcoin miners who were unhappy with the Bitcoin Segregated Witness (SegWit) hard fork implemented a hard fork of their own. This created a new blockchain that reverted to the previous algorithm, resulting in the creation of Bitcoin Cash as a separate cryptocurrency.
October 13, 2017: Larry Fink, CEO of BlackRock, publicly criticizes Bitcoin, calling it an “index of money laundering.”
October 24, 2017: Bitcoin Gold (BTG) is created by another group of dissidents who wanted to change the Bitcoin blockchain protocol. This hard fork resulted in the creation of Bitcoin Gold as a separate cryptocurrency.
November 27, 2017: BTC breaks $10,000 USD for the first time. This significant increase in value reflected the growing interest and investment in Bitcoin, as well as its potential as a store of value and medium of exchange.
2018
January 22, 2018: The South Korean government issues regulations outlawing anonymous cryptocurrency transactions.
2019
July 2019, 2019: U.S. president Donald Trump tweets that he is “not a fan of Bitcoin and other Cryptocurrencies,” calling them “highly volatile and based on thin air.”
October 19, 2019: The first U.S.-based Bitcoin futures based ETF, Proshares, launches using the ticker BITO.
2020
February 3-4, 2020: Michael Saylor hosted a Bitcoin for Corporations conference, encouraging other companies to adopt Bitcoin as a treasury reserve asset. This event marked his full transformation into a Bitcoin evangelist.
March 2020: The COVID-19 pandemic and the resulting economic uncertainty led Saylor to reconsider Bitcoin. He started researching it more deeply, recognizing its potential as a hedge against inflation and a store of value.
May 2020: Paul Tudor Jones: The billionaire hedge fund manager announced in May 2020 that he was investing a small percentage of his portfolio in Bitcoin as a hedge against inflation. His endorsement brought significant credibility to Bitcoin as an investment asset.
August 11, 2020: MicroStrategy announces its first Bitcoin purchase, acquiring 21,454 BTC for $250 million as part of its new capital allocation strategy. Saylor made a significant move by announcing that MicroStrategy had purchased 21,454 BTC for $250 million. He described Bitcoin as a “dependable store of value” and an attractive investment asset with more long-term appreciation potential than holding cash.
September 14, 2020: MicroStrategy doubled down on its Bitcoin investment, purchasing an additional 16,796 BTC for $175 million.
October 2020: Michael Saylor publicly declared his belief in Bitcoin’s potential, stating that it was superior to gold and fiat currencies as a store of value.
October 2020: Jack Dorsey: The co-founder and former CEO of Twitter, and CEO of Square (now Block, Inc.), has been a long-time supporter of Bitcoin. Under his leadership, Square invested $50 million in Bitcoin in October 2020 and an additional $170 million in February 2021. Dorsey has consistently promoted Bitcoin as the future of global currency.
October 21, 2020: PayPal launched its own cryptocurrency trading services for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BTH) for its US customers. This service was later extended to the UK market on August 22, 2021, further increasing the accessibility and adoption of cryptocurrencies.
November 2020: Stanley Druckenmiller: Another prominent hedge fund manager, Druckenmiller revealed that he owned Bitcoin, citing its potential as a store of value and a hedge against inflation.
December 4, 2020: MicroStrategy completes a $50 million purchase of 2,574 BTC, increasing its total to 40,824 BTC.
December 21, 2020: MicroStrategy buys another 29,646 BTC for $650 million, funded by a convertible senior note offering.
2021
February 2021: Elon Musk, initially skeptical, Musk’s company Tesla bought $1.5 billion worth of Bitcoin in February 2021 and announced it would accept Bitcoin as payment (though this was later paused due to environmental concerns). Musk’s tweets and public statements have had a substantial impact on Bitcoin’s market dynamics
February 9, 2021: BTC hits a market capitalization of $1 trillion USD for the first time. This milestone highlighted the growing acceptance and investment in Bitcoin as a valuable asset.
February 24, 2021: MicroStrategy announces the purchase of 19,452 BTC for $1.026 billion, bringing its total holdings to 90,531 BTC.
March 15, 2021: The Ontario Securities Committee (OSC) approves the first BTC exchange-traded fund (ETF), Purpose Investments. This approval allowed the ETF to officially list on the Toronto Stock Exchange, providing investors with a new way to gain exposure to Bitcoin.
June 21, 2021: MicroStrategy buys an additional 13,005 BTC for $489 million, increasing its total to 105,085 BTC.
July 2021: Despite his earlier skepticism, Larry Fink of BlackRock begins to explore Bitcoin and other cryptocurrencies, reflecting a shift in institutional interest.
September 7, 2021: El Salvador becomes the first major country to accept BTC as legal tender. El Salvador became the first major country to accept Bitcoin as legal tender on September 7, 2021. As part of this project, the government created a free cryptocurrency wallet that could be downloaded by all citizens and included a one-time stipend of $30 USD worth of BTC to encourage its adoption.
September 13, 2021: MicroStrategy acquires 5,050 BTC for $242.9 million, bringing its total to 114,042 BTC
November 10, 2021: BTC achieves an all-time high value of $68,990 USD.
December 30, 2021: MicroStrategy purchases 1,914 BTC for $94.2 million, bringing its total to 124,391 BTC
2022
January 31, 2022: MicroStrategy buys 660 BTC for $25 million, increasing its total to 125,051 BTC
June 8, 2022: PayPal allows cryptocurrency transfers between other wallets.
October 19, 2022: South Africa’s Financial Sector Conduct Authority declares cryptocurrency to be a financial product.
October 25, 2022: The UK government approves a resolution to recognize BTC and cryptocurrency as a financial asset.
This move further legitimized cryptocurrencies and highlighted their growing importance in the financial sector.
December 2022: Ex President Donald Trump launches his first NFT collection, signaling a tentative step into the crypto world.
2023
January 2023: BlackRock files for the iShares Bitcoin Trust (IBIT), signaling a significant move into the cryptocurrency space.
January 21, 2023: the ordinals protocol was launched on the Bitcoin blockchain. This protocol enabled users to mint non-fungible tokens (NFTs) directly onto the blockchain, expanding the use cases for Bitcoin and increasing its functionality.
July 2023: Donald Trump begins to soften his stance on Bitcoin, acknowledging its growing popularity and potential.
October 2023: Donald Trump publicly states that Bitcoin and other cryptocurrencies could be beneficial for the economy if properly regulated.
November 1, 2023: MicroStategy’s Bitcoin holdings reach 152,400 BTC.
2024
March 2024: Larry Fink expresses bullish sentiments about Bitcoin, highlighting the rapid growth of IBIT, which amasses $13.5 billion in just 11 weeks.
July 21, 2024: MicroStrategy’s Bitcoin holdings surge to 226,500 BTC.
July 2024: At a Bitcoin conference in Nashville Tennessee, Donald Trump declares his intention to make the U.S. the “crypto capital of the planet” if re-elected. Here are the key points he covered:
1. Firing Gary Gensler: Trump announced his intention to remove Gary Gensler from his position as the Chair of the Securities and Exchange Commission (SEC). He criticized Gensler for being overly restrictive and hindering the growth of the cryptocurrency industry. Trump promised to appoint a new SEC chair who would be more supportive of crypto innovation.
2. Making the U.S. a Crypto Leader: Trump pledged to make the United States the global leader in cryptocurrency technology. He compared the potential of the crypto industry to the steel industry of the early 20th century, emphasizing its importance for future economic growth.
3. Creating a National Bitcoin Stockpile: Trump proposed the creation of a national Bitcoin reserve, which he described as a “permanent national asset.” This idea was aimed at ensuring the U.S. has a strategic reserve of Bitcoin to leverage its value and stability.
4. Regulatory Reforms: He promised to implement regulatory reforms that would foster innovation and growth in the cryptocurrency sector. This included reducing bureaucratic hurdles and creating a more favorable environment for crypto businesses.
5. Public Education on Crypto: Trump acknowledged that many people still do not fully understand cryptocurrencies. He proposed initiatives to educate the public about the benefits and uses of digital currencies, aiming to increase widespread adoption.
August 29, 2024: The U.S. Senate introduces Senate Bill S.4912, which proposes the establishment of a Strategic Bitcoin Reserve. The bill provides for the acquisition and storage of Bitcoin by the U.S. government. It says the U.S. government must acquire and hold one million BTC over the next 5 years, and they must be held for 20-years unless they are used to pay down government debt.
October 2024: Larry Fink declares Bitcoin a “global asset class” and emphasizes its importance for institutional portfolios. He notes that IBIT has reached $23 billion in assets, making it one of the fastest-growing ETFs in history.
October 2024: During BlackRock’s third-quarter earnings report, Fink advocates for greater acceptance, liquidity, and transparency in the Bitcoin market. He underscores Bitcoin’s potential as an alternative to traditional commodities like gold.
October 2024: Trump uses Bitcoin for a purchase, marking a significant personal endorsement of the cryptocurrency.
October 30 2024: MicroStrategy announces its ambitious “21/21 Plan” to raise $42 billion over the next three years to buy more Bitcoin, consisting of $21 billion in equity and $21 billion in fixed-income securities.
October 31 2024: MicroStrategy Inc. made its largest Bitcoin purchase since December 2020, acquiring approximately 27,200 BTC for around $2.03 billion. MicroStrategy’s Bitcoin portfolio surpasses $20 billion in value, with a return on investment (ROI) of over 100%.
November 5 2024: Donald Trump is elected as president of the United States for a second term — winning the Electoral College vote as well as the popular vote — kicking off a Bitcoin buying frenzy and new all-time-highs for the asset.November 11,: Bitcoin reaches a new all time high of over $89,000.
November 12, 2024: Representative Mike Cabell of Pennsylvania introduced legislation in the state’s House of Representatives to allow its treasury to invest in and hold up to 10% in Bitcoin to be held on its balance-sheet.
November 13, 2024: Peter Schiff, long time-pro gold financial commentator and bitcoin hater has flipped in favor of using bitcoin to save social security in the U.S.
December 2024: BlackRock, the world’s largest asset manager, has recommended that investors allocate 1-2% of their portfolios to Bitcoin.
Several U.S. states, including Texas, Pennsylvania and Florida have by now proposed establishing Bitcoin reserves.
President-elect Donald Trump has suggested Bitcoin could reach $150,000 early in his presidency.
Eric Trump has made a more dramatic prediction, envisioning Bitcoin reaching $1 million.
MicroStrategy has been included in the NASDAQ-100 Index, a significant development that highlights its growing influence in the financial markets.
These milestones highlight the significant events and developments in the history of Bitcoin, showcasing its evolution from a niche digital currency to a widely recognized and valuable asset. As Bitcoin continues to grow and evolve, it will undoubtedly reach new milestones and further solidify its place in the financial world.
This concise history of Bitcoin has been compiled for you by Airdrop Experts.
