Satoshi Nakamoto — Creator of the First Cryptocurrency

The mysterious figure known as Satoshi Nakamoto is credited with inventing Bitcoin, the world’s first decentralized digital currency. Nakamoto’s identity remains unknown, sparking countless theories — some believe it’s a single genius programmer, others think it’s a group of cryptographers. In 2008, Nakamoto published the now-famous Bitcoin white paper, outlining a peer-to-peer payment system free from the control of governments or banks. A few months later, in January 2009, Nakamoto mined the genesis block, officially launching the Bitcoin network.

Table of Contents

• Bitcoin Timeline and Price History
• 2008 – 2010
• 2011 – 2014
• 2014 – 2017
• 2018 – 2022

Bitcoin Timeline and Price History

2008 – 2010

• 2008: The Bitcoin white paper appears online, describing a revolutionary way to send value without intermediaries.

• 2009: The Bitcoin network goes live, with the first-ever transaction occurring between Satoshi Nakamoto and Hal Finney, a well-known developer and cryptography activist.

• 2010: Bitcoin gets its first real-world use when Laszlo Hanyecz buys two pizzas for 10,000 BTC — an amount worth millions today. By the end of the year, Bitcoin’s price climbs to $0.39.

2011 – 2014

• 2011: Bitcoin reaches parity with the U.S. dollar and soon after hits $31, marking its first major rally.

• 2012: The first halving event occurs, reducing mining rewards from 50 BTC to 25 BTC per block.

• 2013: Prices soar to over $1,000 before sharply correcting after regulatory crackdowns and exchange security breaches.

• 2014: The Mt. Gox exchange collapse shakes the crypto world, causing Bitcoin’s price to drop below $500.

2014 – 2017

• Bitcoin slowly recovers from the Mt. Gox disaster, with increasing adoption from businesses and payment platforms.

• 2016: The second halving event cuts block rewards to 12.5 BTC.

• 2017: Bitcoin experiences an explosive bull run, surging from under $1,000 in January to nearly $20,000 in December. This marks the moment when cryptocurrencies gain global attention.

2018 – 2022

• 2018: The market enters a long “crypto winter,” with Bitcoin’s price falling below $4,000.

• 2020: The third halving reduces rewards to 6.25 BTC. Interest in Bitcoin spikes during the COVID-19 pandemic as investors seek alternative assets.

• 2021: Bitcoin hits new all-time highs above $64,000, fueled by institutional investment and mainstream adoption.

• 2022: The market faces another downturn amid global economic uncertainty, with Bitcoin prices dropping below $20,000 by mid-year.