History of Bitcoin

Bitcoin logo

The first cryptocurrency – Bitcoin, was released in 2009 by a pseudonymous developer by the name of Satoshi Nakamoto.

If it isn’t the first, then it is undoubtedly the first to gain global public attention.

Bitcoins ticker symbol is BTC (however XBT is also used by some digital exchanges).

Price & Key Milestone History of Bitcoin (BTC)

We have all heard of stories of somebody paying for a couple pizzas or perhaps a boutique waffle nearly a decade ago with a large quantity of bitcoins, a quantity that made you pull out your smartphone calculator app and leave you with the realization that if only you had been that food vendor, you would now be able to pay off a small town’s worth of mortgages. Bitcoin has astonishingly shaken the world since 2009 and it is no mystery why its founder(s) remain discreet.

It has attracted both praise and scrutiny since its subtle beginnings, and as each individual bitcoin surpassed twice the price of an ounce of gold in 2017, one can’t help but realize that it just might be here to stay. The history of Bitcoin is already fascinating, and Bitcoin / Cryptocurrency are not fully mainstream yet!

Below is a Bitcoin timeline that tracks key moments in history, from its original inception to present-day perseverance.

Bitcoin Timeline

January 1 2007

Satoshi Nakamoto – The Legend

According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While some speculate he lives in Japan, it is thought by many that Nakamoto may be a collective pseudonym for more than one person.
August 15 2008

An Interesting Patent Application

Neal Kin, Vladimir Oksman, and Charles Bry file an application for an encryption patent. All three individuals deny a connection to Satoshi Nakamoto, the alleged originator of the Bitcoin concept.

August 18 2008

Bitcoin.org is Registered


Bitcoin.org is born! The domain was registered at Anonymous Speech, a site that allows users to anonymously register domain names and currently accepts Bitcoin.

October 31 2008

“Bitcoin: A Peer-to-Peer Electronic Cash System” Paper Posted

Bitcoin: Peer-to-peer electronic cash system

A paper authored by Satoshi Nakamoto titled Bitcoin: A Peer-to-Peer Electronic Cash System was posted to a cryptography mailing list.

The paper details methods of using a Peer-to-peer network to generate what was described as “a system for electronic transactions without relying on trust”.

November 9 2008

The Bitcoin Project Hits SourceForge

The Bitcoin project is registered on SourceForge, a community collaboration website that is focused on the development and distribution of open source software.

January 3 2009

Genesis block of Bitcoin Mined

Bitcoin network comes into existence with Satoshi Nakamoto mining the genesis block (block number 0) of Bitcoin.

Embedded in the coinbase of this block was the text:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.


The text refers to a headline published on 3rd January 2009 in The Times, and has been interpreted as both a timestamp of the genesis date and a derisive comment on the instability caused by Fractional-reserve banking.

January 12 2009

The First Bitcoin Transaction

The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist.

October 5 2009

An Exchange Rate is Established

New Liberty Standard publishes a Bitcoin exchange rate that establishes the of value a Bitcoin at US$1 = 1,309.03 BTC, using an equation that includes the cost of electricity to run a computer that generated Bitcoins.

May 22 2010

10,000 BTC Spent on Pizza (Bitcoin Pizza Day)

Bitcoin pizza day

The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, paid 10,000 bitcoins for two pizzas.
The deal came about when Hanyecz posted on the BitcoinTalk Forum that he would give 10,000 bitcoins to anyone who brought him pizza. Someone in the UK took him up on it, ordered two pizzas from Papa John’s in Hanyecz’s area, paid $US25 for them, and got the 10,000 bitcoins in exchange. At the time, Bitcoin was worth approximately 0.003 cents each. So the 10,000 BTC was theoretically worth about US$30.
The deal is legendary with the 22nd of May each year now known as Bitcoin Pizza Day.

July 12 2010

1000% Bitcoin Price Increase

The price of Bitcoin experienced a 1,000% increase from 0.008 to 0.08 US dollars, on the 12th July 2010, helping the new currency to attract more attention.

July 17 2010

Mt. Gox Bitcoin Exchange Established

The Mt. Gox Bitcoin currency exchange market is established by Jeb McCaleb.

August 15 2010

Exploit Generates 184 Billion Bitcoins

A vulnerability in the Bitcoin system that causes Bitcoin to be improperly verified is discovered and exploited, resulting in the generation of 184 billion Bitcoins. To date, this is the only major security flaw found and exploited in Bitcoin’s history.

December 8 2010

First Mobile Bitcoin Transaction

The first portable-to-portable transaction of Bitcoins occurs when ribuck sends doublec 0.42 BTC using Bitcoind.

November 15 2012

WordPress Starts Accepting Bitcoin Payments

WordPress.com announces Pay Another Way: Bitcoin

At WordPress.com, our mission is making publishing democratic — accessible and easy for anyone, anywhere. And while anyone can start a free blog here, not everyone can access upgrades (like going ad-free or enabling custom design) because of limits on traditional payment networks. Today, that changes: you can now buy WordPress.com upgrades with bitcoins.

January 1 2013

Bitcoin Trading at around US $13.50

The digital currency began 2013 trading at around US $13.50 per Bitcoin.

February 8 2013

Coinbase Customers Trade $1 Million Worth of Bitcoins in 30 Days

Coinbase, a platform for buying and selling digital currency, announces for the first time, their customers have bought or sold more than $1 million (USD) worth of Bitcoins (at over US $22 per Bitcoin) in the past 30 days.

September 12 2014

First CFTC Approved Bitcoin Financial Product

TeraExchange launches an Over-the-counter (OTC) swap based on the price of Bitcoin. This swap is the first time a U.S. regulatory agency, the U.S. Commodity Futures Trading Commission (CFTC), approves a Bitcoin financial product.

January 1 2015

Bitcoin Trading at around US $315.00

The digital currency began 2015 trading at around US $315.00 per Bitcoin.

February 4 2015

More than 100,000 Merchants Accept Bitcoin

Bitcoin accepted here

The number of retailers accepting the cryptocurrency Bitcoin passes 100,000 as major companies now accepting Bitcoin payments include Dell, Microsoft, Twitch, Wikipedia, Expedia, Greenpeace and PayPal.

September 7 2016

Deloitte Unveils Bitcoin ATM in Their Toronto Office

Deloitte installs Bitcoin ATM

The Bitcoin world received an exciting surprise as it was announced that the Deloitte office in Toronto installed its very own Bitcoin automated teller machine (ATM).

October 1 2016

Number of Bitcoin ATMs Doubles in 18 Months

Bitcoin kiosk

The growth in the number of Bitcoin automated teller machines (ATMs) between March 2015 and September 2016 more than doubled.


In March 2015 there were 353 Bitcoin ATMs, which is a substantial number given Bitcoin had not gone mainstream at that time. By the end of September 2016, this number had increased by over 118% to 771 ATMs worldwide.

January 1 2017

Bitcoin Trading at around US $1000.00

The digital currency began 2017 trading at around US $1,000.00 per Bitcoin.

April 12 2017

Bitcoin Value Rises by Over $1 billion on News from Japan & Russia

Bitcoin value rises by over $1 billion as Japan passed a law to accept Bitcoin as a legal payment method, and Russia moves to regulate cryptocurrency. Bitcoin was trading at around US $1,223.04 on the 12th April 2017 after these announcements.

December 17 2017

Bitcoin 2017 Bull Market High Price

2017 Bitcoin BTC/USD price chart

Bitcoin (BTC) experiences a massive bull market during 2017 with price ultimately reaching around US $19,600 per Bitcoin, over 1,900% increase in price since the 1st January 2017 and generating inevitable discussions of a “Bitcoin Bubble”.

December 15 2018

Bitcoin 2018 Bear Market Low Price

2018 Bitcoin BTC/USD price chart

Bitcoin (BTC) experiences a deep bear market throughout all of 2018 with price ultimately reaching a bear market low around US $3,222 per Bitcoin on 15th December 2018 (Source: CoinMarketCap). This was a decrease in price by over 80% since the 17th December 2017 high, and this bear market earned the term “Crypto Winter”.

Bitcoin Current Price