On January 3, 2009, Satoshi Nakamoto dug out the first block of Bitcoin, the "Genesis Block", and received 50 Bitcoins that could never be spent as a block reward. Bitcoin was officially born. . As of January 3, 2025, Bitcoin has been in operation for 16 years.
The "Genesis Block" is not only the starting point of Bitcoin history, but also attracted much attention because of a passage that Satoshi Nakamoto included in the block. He quoted the headline of the day - "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks".
It is reported that this article (The Times) introduced some details about the Bank of England's market rescue amid the 2008 global financial crisis, which later led the cryptocurrency community to speculate that 'responding to the financial crisis' was precisely the significance behind Satoshi Nakamoto's creation of Bitcoin.
Today marks 16 years since the Bitcoin Genesis Block was mined!
On Jan 3, 2009, Satoshi Nakamoto launched Bitcoin by mining Block 0. It rewarded 50 BTC, which can never be spent, and included this message: 'The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. pic.twitter.com/nVXY47gDX3'
— Satoshi Club (@esatoshiclub) January 3, 2025
16 years of transformation: The cryptocurrency miracle from scratch
From the birth of the Genesis Block in 2009 to a current market value of nearly $2 trillion, Bitcoin has become a symbol of global digital finance.
In its early days, Bitcoin transactions were mostly experimental. In 2009, one of the Bitcoin developers, Martti Malmi, sold 5,050 Bitcoins for $0.0009 each; and on May 22, 2010, an American software engineer, Laszlo Hanyecz, bought two pizzas for 10,000 Bitcoins. This day later became known as 'Bitcoin Pizza Day', a holiday celebrated annually by the cryptocurrency community to commemorate Bitcoin's first real-world transaction.
Over time, the price of Bitcoin has continually broken records. From its starting point in 2009, when it was impossible to value, to breaking $1 in 2011, and reaching a peak of $100,000 in 2024, this journey has not only demonstrated Bitcoin's potential to disrupt traditional finance but has also inspired thousands of cryptocurrency and blockchain projects, redefining the future of finance, technology, and governance.
From low to high: The strong comeback in 2024
In 2022, the sudden collapse of FTX plunged the cryptocurrency market into a winter, but Bitcoin made a dazzling return in 2024. The U.S. Securities and Exchange Commission (SEC) approved the listing of a Bitcoin spot ETF, driving the price of Bitcoin up to $73,000. At the same time, the UK also approved securities linked to Bitcoin for trading on the stock market, further consolidating Bitcoin's position in the global financial market.
It is worth mentioning that the U.S. Bitcoin spot ETF accumulated over $21 billion in inflows in just one year, setting an astonishing record. In contrast, it took gold ETFs a full 5 years to reach the same level of capital.
The scarce 'digital gold', a symbol of financial revolution
With a supply cap of 21 million Bitcoins, it has become the 'scarce gold' of the digital age. As the first truly decentralized asset, it is not only a store of value but also a profound reflection and challenge to the traditional financial system.
16 years have passed, and Bitcoin has long surpassed its original technical experiment, becoming an important force in changing the financial landscape. Its birth was not only a breakthrough in technological innovation but also a revolution in economic thought.
Today, standing at this special milestone, we not only reflect on how it has changed the world from nothing to something, but we also look forward to its continued leadership towards a more decentralized and fair global financial ecosystem in the future.
The story of Bitcoin has just begun.
Burning over a million dollars! Why did a mysterious person transfer 27 Bitcoins into the 'Genesis Wallet'?
"16th Anniversary of the Birth of Bitcoin's 'Genesis Block': An Extraordinary Journey from 'Technical Experiment' to 'Global Belief'" This article was first published on (BlockGeek).
