These 10 events shaped Bitcoin

When Bitcoin started in 2008, nobody would have expected today’s success. From just $0.09 on July 17, 2010, the cryptocurrency exploded to an all-time high of $68,789 on November 10, 2022 – an increase in value of over 76 million percent. Aside from the price hike, Bitcoin has endured numerous formative events over the past 15 years – here are ten of them.

1. Financial Crisis 2008

The loss of trust and the 2008 financial crisis: The starting signal for Bitcoin. The idea of ​​a decentralized digital currency as an alternative to the existing means of payment quickly found supporters. In an uncertain time, Satoshi Nakamoto had the answers – to questions of money, independent of government control.

Decentralization and security without a third party, using blockchain technology, that was the revolutionary approach. The crisis was a turning point, raising awareness of financial system vulnerabilities and paving the way for innovative solutions like Bitcoin. It is not without reason that Satoshi Nakamoto quoted the British Times in the first Bitcoin block.

2. Genesis block

The Genesis Block is the first block in a blockchain. When a new block is added to the blockchain, it references the previous one. However, in the Genesis block there is no such block to be referenced. Satoshi created the first Bitcoin block on January 3, 2009.