Bitcoin’s Key Moments in 17 Years
The Bitcoin (BTC) whitepaper, written by Satoshi Nakamoto, was published on October 31, 2008. This document introduced Bitcoin as “A Peer-to-Peer Electronic Cash System.” Since then, Bitcoin has grown into a $2 trillion digital asset. The cryptocurrency market now values nearly $4 trillion. Here are 17 major events that shaped Bitcoin’s rise as “Digital Gold.”
1. Bitcoin Whitepaper Release
On Halloween 2008, Satoshi Nakamoto shared the Bitcoin whitepaper on Bitcoin.org. It outlined a new form of digital money using Proof-of-Work (PoW) and SHA-256 encryption. The system works on a public ledger without needing trust in banks.
2. Launch of the Genesis Block
On January 3, 2009, Satoshi created the first Bitcoin block, called the Genesis Block. It included a message referencing the 2008 financial crisis. Mining this block rewarded 50 BTC, which can never be spent.
3. First Bitcoin Transaction
On January 12, 2009, Satoshi sent 10 BTC to Hal Finney, an early Bitcoin supporter. This was the first peer-to-peer Bitcoin payment without middlemen.
Important Bitcoin Milestones
4. Bitcoin Pizza Day
On May 22, 2010, Laszlo Hanyecz bought two pizzas using 10,000 BTC. This was Bitcoin’s first commercial purchase. By October 2025, these coins would be worth over $1.26 billion at peak prices.
5. First Price Rally and Crash
Bitcoin’s price rose to $31 by June 2011 from just $0.30 at the end of 2010. Later that year, the price crashed to almost $2 after disruptions at Tokyo-based Mt. Gox exchange. This showed Bitcoin’s volatile nature.
6. Bitcoin Hits $1,000
In 2013, Bitcoin gained wider recognition, reaching $100 in April. By November, the price hit $1,000 and the market valuation exceeded billions.
7. Mt. Gox Exchange Collapse
In early 2014, Mt. Gox went bankrupt after losing 850,000 BTC to hacks. About 200,000 BTC were later recovered. Investors got refunds based on the coin value at the time.
8. SegWit Upgrade in 2017
Bitcoin adopted the Segregated Witness (SegWit) upgrade in August 2017. It improved transaction speed, lowered fees, and made room for the Lightning Network.
9. Bitcoin Cash Hard Fork
Bitcoin Cash (BCH) was created on August 1, 2017, opposing SegWit. It increased block size for on-chain scaling. As of October 2025, BCH’s market cap is $11.27 billion.
10. Bitcoin Futures on CME
The Chicago Mercantile Exchange launched cash-settled Bitcoin futures in December 2017. This allowed institutional investors to trade Bitcoin as a mainstream asset.
Recent Developments and Adoption
11. Taproot Upgrade in 2021
The Taproot upgrade, launched in November 2021, improved Bitcoin’s privacy and smart contract ability using Schnorr signatures.
12. Bitcoin Hits $1 Trillion Market Cap
In early 2021, Bitcoin’s value passed $53,000, making its market capitalization exceed $1 trillion.
13. El Salvador Makes Bitcoin Legal Tender
In September 2021, El Salvador approved Bitcoin as legal tender. The country now holds 6,365 BTC valued at nearly $689 million.
14. Bitcoin Ordinals Launch
In January 2023, Casey Rodarmor introduced Ordinals on Bitcoin. This enabled Bitcoin-native NFTs, allowing permanent data inscription directly on Bitcoin blocks.
15. First US Spot Bitcoin ETFs
In January 2024, 12 Bitcoin spot Exchange Traded Funds (ETFs) launched following BlackRock’s push. These provide easier institutional access to Bitcoin. ETFs now hold 1.35 million BTC, about 6.
