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.