If you've ever had any interest in virtual currencies, you've probably heard of Bitcoin. Now considered the "mother" of cryptocurrencies, Bitcoin is the most valuable digital currency to date. However, before it got to this point, it had its own journey. Learn more about the history of this revolutionary currency.

How Bitcoin came about

Contrary to what you might think, the Bitcoin blockchain didn't happen overnight. It is the result of several earlier innovations. The Bitcoin language was inspired by the Forth programming language invented in 1968 by Charles H. Moore. In 1990, an electronic currency based on cryptographic protocols, DigiCash by David Chaum, was created. In 1991, the time chain concept was created, which later became blockchain.

After the bankruptcy of DigiCash in 1998, the P2P (peer-to-peer) technology was invented in 1999. It was much later in 2007 that an anonymous person, using the pseudonym Satoshi Nakamoto announced the creation of Bitcoin and a year later, in 2008, he registered the domain via the AnonymousSpeech platform.

Creation and first steps of Bitcoin

Bitcoin was actually born in 2009. Its first blockchain (genesis) was created on January 3, 2009 and it took until January 12 for the first transaction worth 10 BTC to be made on its network between Nakamoto and Hal Finney. On October 5, 2009, Bitcoin is valued for the first time. It is worth 0.001 US dollars. The first Bitcoinc/dollar exchange will take place some time later, on October 12, 2009 via PayPal.

The 2010 decade, a milestone in the history of Bitcoin

The decade 2010 marks a decisive step in the evolution of Bitcoin. On December 12, 2010, Satoshi Nakamoto, who remained anonymous, withdrew from the https://craneplumbing.us/ project. He then passes the baton to the American Gavin Anderson to whom he gives the key to the protocol. At that time, Bitcoin was worth 0.4 euros. The year 2011 marks the parity between Bitcoin, the euro and the US dollar. Starting in 2012, a large number of platforms accept payment by Bitcoin for certain services.

In April 2013, Bitcoin is worth 287 euros, but this value will fall very quickly afterwards, stabilizing around 80 euros before reaching 500 and then 912 euros again in December of the same year. Between 2015 and 2019, the price of Bitcoin varies incessantly: first 155 euros in 2015, then 887 euros in 2016; 1,087 euros in January 2017 and 2,933 dollars in June of the same year. It ends this year with a value of $19,891 before dropping to 3,215 euros in 2018. By the end of 2019, Bitcoin is worth 7,000 euros.

Bitcoin to date

While 2020 was a difficult year for Bitcoin mainly due to the COVID-19 health crisis, 2021 was a landmark year for the cryptocurrency. Platforms like BitIQ make it easy to trade. Its value was twice estimated to be above 65,000 US dollars thanks to the halving of May 11, 2021. Experts are now predicting a very promising future for Bitcoin in 2022.

As you can see, Bitcoin has its origins in a number of computer programs developed long before its birth in 2009. Although the creator of this cryptocurrency, Satoshi Nakamoto, has remained a mystery to the general public, his work has seen a remarkable rise in the decade of 2010 and since 2021 it has continued to evolve.

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