The Beginning
The Birth of the Idea
- October 31, 2008: Someone named Satoshi Nakamoto publishes a whitepaper titled
"Bitcoin: A Peer-to-Peer Electronic Cash System"
What did that introduce?
- Decentralized money
- The Blockchain
- A fixed supply (21 million coins)
In 2009 Bitcoin Is Live
- January 3rd, 2009: The first block is ever mined, this block was called the
"Genesis Block".
- January 12th, 2009: The first Bitcoin transaction in history is made. This
transaction was between (Satoshi to Hal Finney).
At this point in time, Bitcoin still has no value, it's just some programmers who are entranced by
the
idea running wild with their code.
Bitcoin Has Value
- May 22nd, 2010: The very first transaction with Bitcoin was completed for two
pizzas,
in exchange for about 10,000 Bitcoins. A transaction that today would cost someone around to complete.
- BTC begins trading on exchanges for fractions of a cent.
In 2011 Bitcoin Had Its First Big Price Surge
- BTC reached $1 for the first time.
- Shortly after BTC hit $31, and then later crashed all the way back down to $2.
- Other cryptocurrencies start to appear, such as Litecoin.
The First "bubble" of 2013
- Bitcoin breaks $1,000 for the first time.
- This was about the time when Bitcoin really had its first wave of mainstream attention.
Fast Forward to the Retail Rampage of 2017
Bitcoin skyrockets to $20,000
- Coinbase blows up and downloads explode.
- Crypto finally has entered the global stage of awareness.
- Futures markets launch on CME/CBOE which was a HUGE step for institutions.
Off Season
- Bitcoin crashes from $20,000 to about $3,200
- Hundreds of projects die off.
- Bitcoin’s critics (a.k.a. boomers) claimed this would be the end of Bitcoin and
cryptocurrency
all
together.
Welcoming in the "Big Boys"
The Institutional Era Begins in 2020
- MicroStrategy buys Bitcoin as a treasury reserve asset.
- PayPal enables buying Bitcoin.
- The third round of halving (second round was in 2016) reduces block rewards to about
6.25
BTC.
- COVID money printing renews interest in hard assets (assets that can't be produced out of
thin
air
e.g. Bitcoin).
- Bitcoin climbs past $40K
New All-Time Highs in 2021
- Tesla buys $1.5B in Bitcoin.
- Bitcoin reaches $69,000 in November.
- The first country (El Salvador) adopts Bitcoin as legal
tender.
2022, an Unforgettable but Painful Year for Crypto
Crypto Starts to Collapse
- Terra/Luna start to meltdown.
- Three Arrows Capital collapses.
- FTX implosion happens.
- Bitcoin plummets to $15,500.
Bitcoin on the Road to Recovery
- In 2023 institutions start to double down on Bitcoin.
- BlackRock, Fidelity, and others file for Bitcoin ETFs.
- BTC climbs back above $40K.
January 2024: History is Made
The First U.S. Bitcoin Spot ETFs were Approved
- This change opened the door for investors using a standard brokerage account
(like Fidelity, Schwab, Ameritrade) without needing to own or manage Bitcoin directly.
- This opened the door for "Wall Street Money" to enter the Bitcoin scene.
- Investors who were previously scared of wallets, keys, or exchanges could now buy Bitcoin in a
manner that they were already comfortable / familiar with.
Chasing New Highs
- Bitcoin breaks $73,000
- Block reward halves to 3.125 BTC
- Bitcoin creeps closer to mainstream legitimacy.
Finishing 2025 Taking Profits
A 400,000 Bitcoin Sell-Off Hurt Bitcoin Bad
- After halving again in 2024, BTC miners earned half as much but operating costs were the same.
- Fears of inflation caused investors to move money into safer assets.
- Institutions began taking profits after Bitcoin's massive ETF-driven run.
U.S. Bitcoin Spot ETFs saw billions of dollars in outflows.
- Hundreds of thousands of long-term held (HODLer) coins were reactivated and sold.
- Leverage began unwinding, triggering a cascade of liquidations across exchanges.
- Sentiment cooled as traders realized the market was overextended.
- The combination of profit-taking, miner selling, and ETF outflows pushed BTC into a sharp
correction.
