The History of Bitcoin: From Anonymity to Global Financial Revolution
From a whitepaper published by an unknown person on a cryptography mailing list to becoming a multi-trillion-dollar asset, Bitcoin's history is one of the most fascinating narratives of the 21st century.
In less than two decades, this technology has gone from being worth literally nothing to surpassing $100,000 per unit, surviving hacks, government bans, exchange collapses, its creator's abandonment, and multiple "death" declarations.
This timeline covers the most important moments that have defined Bitcoin's evolution:
- 📄 2008 - The birth: whitepaper publication
- 🍕 2010 - First real purchase: 10,000 BTC for two pizzas
- 👻 2011 - Satoshi Nakamoto disappears forever
- 💰 2013 - Bitcoin surpasses $1,000 for the first time
- 🏛️ 2017 - Wall Street enters the game with Bitcoin futures
- 🇸🇻 2021 - El Salvador adopts it as legal tender
- 📈 2024 - ETF approval and new all-time high
Complete Bitcoin Timeline
₿ Bitcoin Timeline
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💻 Hal Finney - Reusable Proof of Work
This system receives hashcash as a Proof of Work (POW) token, and in exchange creates RSA-signed tokens which I call Reusable Proof of Work (RPoW) tokens.
Bitcoin.org Registration
The domain bitcoin.org is registered anonymously through anonymousspeech.com, marking the first tangible step toward Bitcoin's launch.
📄 Whitepaper Publication
Satoshi Nakamoto publishes "Bitcoin: A Peer-to-Peer Electronic Cash System" on the cryptography mailing list. The 9-page document describes an electronic cash system without intermediaries.
⛏️ Genesis Block
Satoshi mines the first Bitcoin block (Block 0). It includes the message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks", a criticism of the traditional financial system.
🚀 Software Launch
Bitcoin v0.1 is released on SourceForge. The code is open source and anyone can run a node or mine.
💸 First Transaction
Satoshi Nakamoto sends 10 BTC to Hal Finney in block 170. It is the first Bitcoin transfer between two people.
💵 First Price Established
New Liberty Standard publishes the first exchange rate: $1 = 1,309.03 BTC, based on the cost of electricity to mine.
🏦 First Exchange
Dwdollar creates Bitcoin Market, the first cryptocurrency exchange, allowing Bitcoin to be exchanged for dollars via PayPal.
🍕 Bitcoin Pizza Day
Laszlo Hanyecz pays 10,000 BTC for two Papa John's pizzas. It's the first purchase of a physical good with Bitcoin. Today those pizzas would be worth over a billion dollars.
🏔️ Mt. Gox is Born
Jed McCaleb launches Mt. Gox, which would become the dominant exchange handling over 70% of global Bitcoin transactions.
🐛 The 184 Billion Bug
A hacker exploits a vulnerability and creates 184 billion BTC. Satoshi reacts quickly with a patch and the transaction is reversed.
🐝 WikiLeaks and the Hornet's Nest
Satoshi expresses concern about Bitcoin adoption by WikiLeaks: "WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us."
👋 Satoshi's Last Public Post
Satoshi Nakamoto makes his final post on the Bitcointalk forum, discussing DoS vulnerabilities. He would never publicly write on the forum again.
💰 Dollar Parity
Bitcoin reaches $1.00 USD for the first time, achieving parity with the world's reserve currency.
👻 Satoshi's Last Email
Satoshi Nakamoto sends his last known email to Gavin Andresen, asking him not to present him as a "mysterious shadowy figure." After this, he disappears forever.
🔓 Gawker and Silk Road
Gawker publishes an article about Silk Road, the dark web black market that uses Bitcoin. The price jumps from $10 to $32 in one week.
💥 First Mt. Gox Hack
Mt. Gox suffers its first major hack. Bitcoin's price on the exchange temporarily drops to $0.01. Confidence wavers.
⚡ First Halving HALVING #1
The block reward is reduced from 50 BTC to 25 BTC. It's the first programmed "halving," which occurs every 210,000 blocks (~4 years).
🏦 First Regulated Service
France authorizes the first regulated Bitcoin payment service in Europe, marking a step toward institutional legitimacy.
📈 $1 Billion Market Cap
Bitcoin surpasses a market capitalization of one billion dollars for the first time.
🇨🇾 Cyprus Crisis
During the banking crisis in Cyprus, Bitcoin gains attention as an alternative to the traditional banking system. The price rises to $266.
🚔 Silk Road Shutdown
The FBI shuts down Silk Road and arrests Ross Ulbricht (Dread Pirate Roberts). 144,000 BTC are seized. The price briefly falls but recovers.
🚀 Bitcoin Surpasses $1,000
For the first time in history, Bitcoin surpasses $1,000 dollars. Speculative fever is at its peak.
💀 Mt. Gox Collapse
Mt. Gox suspends withdrawals citing "technical issues." It would later be revealed that they had lost 850,000 BTC (~$450 million) from accumulated hacks.
🏚️ Mt. Gox Bankruptcy
Mt. Gox officially files for bankruptcy. It is the largest disaster in Bitcoin history to that point. The price falls to ~$400.
🔍 "I Am Not Dorian Nakamoto"
After a Newsweek article wrongly identifies Dorian Nakamoto as Satoshi, a message appears on P2P Foundation: "I am not Dorian Nakamoto." Its authenticity remains debated.
🔐 Bitstamp Hack
Bitstamp loses 19,000 BTC in a hack. The exchange survives and strengthens its security, demonstrating that the industry is maturing.
🌐 Ethereum Launch
Ethereum launches, the second most important cryptocurrency. It introduces smart contracts and expands blockchain possibilities.
⚡ Second Halving HALVING #2
The reward is reduced from 25 BTC to 12.5 BTC per block. The price begins an upward trend that will culminate in 2017.
⚔️ Bitcoin Cash Fork
After years of scalability debate, Bitcoin splits. Bitcoin Cash (BCH) is born with 8MB blocks versus Bitcoin's 1MB.
🇨🇳 China Bans ICOs and Exchanges
China bans ICOs and orders the closure of local exchanges. The price falls but quickly recovers due to global demand.
📊 Bitcoin Futures on CBOE
Chicago Board Options Exchange (CBOE) launches the first regulated Bitcoin futures. Wall Street officially enters the market.
🎯 ATH: Near $20,000
Bitcoin reaches its all-time high of ~$19,783. Cryptocurrency fever is at its peak. Everyone is talking about Bitcoin.
❄️ Bear Market Bottom
Bitcoin hits bottom at ~$3,200, an 84% drop from highs. Many declare Bitcoin's "death" for the umpteenth time.
📣 Facebook Announces Libra
Facebook announces its cryptocurrency Libra (later Diem). Although it fails, it puts cryptocurrencies on global regulators' agenda.
📉 COVID "Black Thursday"
Amid pandemic panic, Bitcoin falls 50% in one day, reaching ~$4,000. All markets collapse simultaneously.
⚡ Third Halving HALVING #3
The reward is reduced from 12.5 BTC to 6.25 BTC. Bitcoin's programmed scarcity intensifies.
🏢 MicroStrategy Buys Bitcoin
MicroStrategy, led by Michael Saylor, invests $425 million of its corporate treasury in Bitcoin. The era of institutional adoption begins.
💳 PayPal Adopts Bitcoin
PayPal announces it will allow buying, selling, and holding Bitcoin. 346 million users gain easy access to cryptocurrencies.
🚗 Tesla Buys $1.5 Billion
Tesla reveals a $1.5 billion Bitcoin purchase and announces it will accept BTC payments. Elon Musk drives the price to new highs.
📈 Coinbase Goes Public
Coinbase debuts on NASDAQ with an $86 billion valuation. It's the first major crypto company to trade on Wall Street.
⚡ Tesla Suspends BTC Payments
Elon Musk announces Tesla suspends Bitcoin payments over environmental concerns. The price drops 15% within hours.
🇨🇳 China Bans Mining
China expels Bitcoin miners. The hashrate drops 50%. Miners migrate to the United States, Kazakhstan, and other countries.
🇸🇻 El Salvador Adopts Bitcoin
El Salvador becomes the first country to adopt Bitcoin as legal tender. President Nayib Bukele personally champions it.
🏆 New ATH: $69,000
Bitcoin reaches a new all-time high of $68,789. The total crypto market cap exceeds $3 trillion.
🔧 Taproot Activation
Taproot is activated, Bitcoin's biggest upgrade since SegWit. It improves privacy, efficiency, and smart contract capabilities.
💥 Terra/Luna Collapse
The Terra ecosystem collapses, evaporating $40 billion. UST loses its peg and LUNA falls to zero. The contagion affects the entire market.
🏦 Celsius and 3AC Collapse
Celsius Network freezes withdrawals. Three Arrows Capital (3AC) collapses. The domino effect continues affecting multiple companies.
⚠️ FTX Collapse
FTX, the second-largest exchange, collapses within days after fraud revelations. Sam Bankman-Fried is arrested. $8 billion vanishes.
🏦 U.S. Banking Crisis
Silicon Valley Bank, Signature Bank, and Silvergate collapse. Ironically, Bitcoin rises as a "safe haven" amid traditional banking system fragility.
📋 BlackRock Files for ETF
BlackRock, the world's largest asset manager ($9 trillion), files for a spot Bitcoin ETF. Institutional expectations soar.
⚖️ SBF Conviction
Sam Bankman-Fried is found guilty of fraud. He would be sentenced to 25 years in prison. The market interprets the case closure as positive.
🎉 Spot ETF Approval
The SEC approves 11 spot Bitcoin ETFs, including those from BlackRock, Fidelity, and other giants. It's the most important moment for Bitcoin's institutional adoption.
📈 ETF Rally
ETFs accumulate over $10 billion in assets. Institutional demand exceeds all expectations. Bitcoin breaks its previous ATH.
⚡ Fourth Halving HALVING #4
The reward is reduced from 6.25 BTC to 3.125 BTC per block. It's the most anticipated halving in history due to ETF demand.
🚀 Bitcoin Surpasses $100,000
Driven by ETFs, institutional adoption, and the post-halving effect, Bitcoin finally breaks the psychological barrier of $100,000 dollars.
🌍 Global Consolidation
Bitcoin consolidates as a globally recognized reserve asset. ETFs manage hundreds of billions of dollars. More countries explore adopting Bitcoin as legal currency. Satoshi Nakamoto's vision of decentralized money is now a reality.
From a cypherpunk challenge worth fractions of a cent to an asset exceeding $100,000, Bitcoin has come a long way. It has survived:
- 🔒 Multiple exchange hacks
- 🚫 Bans in several countries
- ❄️ Two brutal "crypto winters"
- 💀 More than 450 "death" declarations
- 👻 The disappearance of its own creator
And it has not only survived: it has thrived. Each crisis has made it stronger, each attack has proven its resilience, and each passing year validates the original vision of the 2008 whitepaper.
The question is no longer whether Bitcoin will survive, but what role it will play in the financial system of the future.
Last updated: 2025
