The accelerated growth of Bitcoin (BTC) is one of the most notable financial phenomena of the last decade. Here is a breakdown of its evolution:
1. Launch and initial value
In 2009, Satoshi Nakamoto mined the first block of Bitcoin, known as the genesis block, with an initial value virtually zero.
In May 2010, the first commercial transaction occurred: 10,000 BTC for two pizzas, equivalent to about $41 USD at that time.
2. First significant rises (2013)
Bitcoin first reached $1,000 USD in November 2013, driven by increased media interest and early adoption. However, it also faced volatility, quickly dropping to half its value within months.
3. Institutional adoption and boom (2017)
In 2017, Bitcoin surpassed $19,000 USD, thanks to:
Increased media coverage.
The entry of regulated exchanges like CME and CBOE.
Growing interest from institutional investors.
However, after reaching this all-time high, Bitcoin suffered a significant crash in 2018, falling to values below $4,000 USD.
4. Explosion during the pandemic (2020-2021)
The COVID-19 pandemic brought a strong adoption of Bitcoin as a safe-haven asset against inflation and money printing.
Large companies, such as Tesla and MicroStrategy, began purchasing BTC as a store of value.
In November 2021, Bitcoin reached its all-time high of $68,789 USD, establishing itself as 'digital gold'.
5. Recent volatility and consolidation (2022-2024)
In 2022, the fall of major players like FTX and regulatory fears caused BTC to drop below $16,000 USD.
However, in 2023 and 2024, institutional adoption has pushed the price up again. Companies like BlackRock are exploring Bitcoin ETFs, and its global acceptance continues to grow.
Key factors of its growth
1. Limited supply: Bitcoin has a maximum supply of 21 million coins, which increases its value as demand grows.
2. Decentralization: Without control from governments or institutions, it is perceived as a safe asset against inflation and monetary manipulation.
3. Institutional interest: The participation of companies and funds has legitimized its use as a store of value.
4. Blockchain technology: Its transparency and security have inspired trust in the markets.
Despite its volatility, Bitcoin remains a pioneer and leader in the cryptocurrency market.
