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Bitcoin History: Complete Timeline from 2008 to 2026

Bitcoin's journey from an obscure white paper to a globally recognized asset class is one of the most remarkable stories in modern technology and finance. This timeline chronicles every major milestone, crisis, innovation, and turning point in Bitcoin's history.

Understanding this history is essential for appreciating where cryptocurrency is today and where it might be headed. Many of the debates, challenges, and innovations that define the current landscape have deep roots in Bitcoin's past.

2008: The Genesis

August 18 — bitcoin.org Domain Registered

The domain bitcoin.org was registered, signaling the beginning of what would become the most significant financial technology innovation of the 21st century.

October 31 — The White Paper

Satoshi Nakamoto published "Bitcoin: A Peer-to-Peer Electronic Cash System" to the Cryptography Mailing List. The nine-page paper described a system for electronic transactions without relying on trust, solving the double-spending problem through a peer-to-peer network using proof of work.

The white paper synthesized decades of cypherpunk research into a cohesive, implementable design. Concepts from HashCash (Adam Back), b-money (Wei Dai), Bit Gold (Nick Szabo), and others found practical expression in Nakamoto's design.

2009: Bitcoin Is Born

January 3 — The Genesis Block

Satoshi Nakamoto mined the first Bitcoin block (Block 0), known as the genesis block. Embedded in the coinbase transaction was the message: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" — a reference to a London Times headline that highlighted the motivation behind Bitcoin's creation.

January 9 — Bitcoin v0.1 Released

The first Bitcoin software was released publicly. Version 0.1 ran on Windows and included a built-in miner and basic wallet functionality. The code was released under the MIT license, establishing Bitcoin as open-source from its inception.

January 12 — First Bitcoin Transaction

Satoshi Nakamoto sent 10 BTC to Hal Finney in block 170 — the first-ever Bitcoin transaction between two people. Finney, a renowned cryptographer and early Bitcoin contributor, had been running the software since its release.

October 5 — First Dollar Exchange Rate

New Liberty Standard established the first known Bitcoin exchange rate: $1 = 1,309.03 BTC, calculated from the electricity cost of mining. This established Bitcoin's first connection to traditional monetary value.

October 12 — First Bitcoin-to-Fiat Exchange

The first known purchase of Bitcoin with fiat currency occurred via PayPal. Martti Malmi sold 5,050 BTC to New Liberty Standard for $5.02.

2010: First Real-World Value

February 6 — First Bitcoin Exchange

Bitcoin Market, the first cryptocurrency exchange, launched. It enabled users to trade Bitcoin for US dollars, providing the first formal marketplace for Bitcoin price discovery.

May 22 — Bitcoin Pizza Day

Laszlo Hanyecz paid 10,000 BTC for two Papa John's pizzas, marking the first known commercial transaction using Bitcoin. At the time, the 10,000 BTC was worth approximately $41. This event is celebrated annually as "Bitcoin Pizza Day" and has become the most famous transaction in cryptocurrency history.

July 17 — Mt. Gox Launches

Jed McCaleb launched Mt. Gox as a Bitcoin exchange, initially converting it from a trading card exchange website. Mt. Gox would grow to handle over 70% of all Bitcoin transactions before its spectacular collapse in 2014.

August 6 — First Major Vulnerability

A critical vulnerability was discovered that allowed users to create billions of Bitcoin through a value overflow incident. The bug was quickly fixed, and the affected transactions were reversed — one of the few times the Bitcoin blockchain was "rolled back." This incident demonstrated both the risk of software bugs and the community's ability to respond quickly.

August 15 — Vulnerability Patched

Satoshi Nakamoto and the Bitcoin developer community released a patch within hours, implementing a soft fork to reject the fraudulent transactions.

December 12 — Satoshi's Last Forum Post

Satoshi Nakamoto made their last post on the BitcoinTalk forum, gradually withdrawing from public participation in the project.

2011: Growing Pains

February 9 — Bitcoin Reaches Dollar Parity

Bitcoin reached $1.00 for the first time, achieving parity with the US dollar. This psychological milestone attracted mainstream media attention for the first time.

April 16 — TIME Magazine Coverage

TIME published one of the first mainstream media articles about Bitcoin, introducing cryptocurrency to a broad audience. The coverage sparked a significant price rally.

June 1 — Gawker Silk Road Article

Gawker published an article about Silk Road, the dark web marketplace accepting Bitcoin. The resulting attention drove Bitcoin's price from $9.21 to $29.58 within a week — and also permanently associated Bitcoin with illicit activity in many people's minds.

June 13 — First Major Theft

A BitcoinTalk user reported the theft of 25,000 BTC. This was one of the earliest high-profile Bitcoin thefts and highlighted the importance of proper security practices that remain relevant today.

June 19 — Mt. Gox Hacked

Mt. Gox suffered its first security breach. A hacker gained access to an administrator account and artificially crashed the price to $0.01, buying thousands of cheap bitcoins. Trading was suspended and eventually reversed, but confidence was shaken.

October — Litecoin Launched

Charlie Lee created Litecoin as a "silver to Bitcoin's gold," featuring faster block times and a different hashing algorithm (Scrypt). Litecoin became the first significant "altcoin" and established the pattern of Bitcoin forks and alternatives that would become a defining feature of the ecosystem.

2012: Foundation Building

September 27 — Bitcoin Foundation Established

The Bitcoin Foundation was created to standardize, protect, and promote Bitcoin. While its influence later waned, it initially served as an important institutional voice for the Bitcoin community.

November 28 — First Halving

Bitcoin's first halving event reduced the mining reward from 50 BTC to 25 BTC per block. This programmatic supply reduction — occurring every 210,000 blocks — is a fundamental feature of Bitcoin's monetary policy. The first halving validated that Bitcoin's code-enforced scarcity mechanism worked as designed.

November — WordPress Accepts Bitcoin

WordPress became one of the first major companies to accept Bitcoin payments, signaling growing commercial acceptance.

2013: Mainstream Attention

March 28 — $1 Billion Market Cap

Bitcoin's market capitalization exceeded $1 billion for the first time, establishing it as a noteworthy financial phenomenon beyond the technology community.

March — Cyprus Banking Crisis

During the Cyprus financial crisis, when banks froze depositor accounts, Bitcoin saw increased interest as an alternative for storing value outside the traditional banking system. This real-world test case strengthened the narrative of Bitcoin as a hedge against banking system failures.

October 1 — Silk Road Shut Down

The FBI seized the Silk Road dark web marketplace and arrested its founder, Ross Ulbricht. Approximately 144,000 BTC were seized. Despite fears that the shutdown would devastate Bitcoin, the price recovered quickly, demonstrating that Bitcoin's value extended far beyond illicit commerce.

November 19 — Senate Hearing

The US Senate held hearings on virtual currencies. Positive testimony from regulators and law enforcement — including then-Fed Chairman Ben Bernanke stating virtual currencies "may hold long-term promise" — drove Bitcoin's price to over $700.

December 4 — All-Time High of $1,147

Bitcoin reached a then-all-time high of $1,147, driven by Chinese exchange volume and global media coverage. The subsequent crash to around $200 over the following year would test the conviction of early believers.

December 5 — China's First Ban

The People's Bank of China prohibited financial institutions from handling Bitcoin transactions. This began a pattern of Chinese regulatory actions that would influence Bitcoin markets for years to come.

2014: The Mt. Gox Collapse

February 7 — Mt. Gox Halts Withdrawals

Mt. Gox, then handling approximately 70% of global Bitcoin trading volume, suspended all withdrawals citing a technical issue related to transaction malleability.

February 24 — Mt. Gox Goes Offline

Mt. Gox shut down completely. Internal documents revealed that approximately 850,000 BTC (worth ~$450 million at the time) had been lost or stolen. The Mt. Gox collapse remains the most devastating single event in Bitcoin's history and profoundly influenced the industry's approach to exchange security and self-custody.

The lesson — "not your keys, not your coins" — became a fundamental principle of cryptocurrency security. This event underscored why understanding wallet types and cold storage is essential.

June — First Regulated US Bitcoin Exchange

Coinbase became one of the first regulated Bitcoin exchanges in the United States, bringing institutional credibility and banking integration to the ecosystem.

September 8 — PayPal Partnerships

PayPal-owned Braintree announced plans to integrate Bitcoin payments, signaling mainstream payment industry interest.

December — Microsoft Accepts Bitcoin

Microsoft began accepting Bitcoin for digital content purchases, adding another major corporate name to the growing list of Bitcoin-accepting companies.

2015: Ethereum and the Block Size Debate

January 26 — Coinbase Exchange Launch

Coinbase launched its exchange (later renamed to Coinbase Exchange, then GDAX, then Coinbase Pro, then back to Coinbase Advanced Trade), providing a regulated, insured trading platform for US customers.

July 30 — Ethereum Launches

Vitalik Buterin's Ethereum network went live, introducing smart contracts and programmable money. While not a Bitcoin event per se, Ethereum's launch fundamentally expanded the cryptocurrency ecosystem and introduced the concept of blockchain as a general-purpose computing platform.

August — Block Size War Begins

The debate over increasing Bitcoin's block size limit intensified. This technical disagreement — Bitcoin XT, Bitcoin Classic, and later Bitcoin Unlimited proposed larger blocks — became the most contentious governance crisis in Bitcoin's history. The conflict pitted those favoring on-chain scaling against those preferring layer-2 solutions, with implications for Bitcoin's decentralization and governance model. The full story is told in Jonathan Bier's "The Blocksize War" (see our crypto books guide).

October 22 — EU VAT Exemption

The European Court of Justice ruled that Bitcoin exchange transactions are exempt from VAT, classifying Bitcoin as a currency rather than a commodity within the EU.

October 31 — The Economist Cover

The Economist featured blockchain technology on its cover with the headline "The Trust Machine," bringing mainstream attention to the technology underlying Bitcoin.

2016: Institutional Infrastructure

January — Lightning Network Paper

Joseph Poon and Thaddeus Dryja published the Lightning Network white paper, proposing a layer-2 scaling solution that would enable fast, low-cost Bitcoin transactions through payment channels.

May 2 — Craig Wright Claims to Be Satoshi

Australian businessman Craig Wright publicly claimed to be Satoshi Nakamoto but failed to provide conclusive cryptographic proof. The claim was widely disputed by the Bitcoin community. The question of Satoshi's identity remains unresolved.

July 9 — Second Halving

Bitcoin's second halving reduced the mining reward from 25 BTC to 12.5 BTC. The months following the halving saw the beginning of a massive price appreciation that would culminate in the 2017 bull run.

August 2 — Bitfinex Hack

The Bitfinex exchange was hacked for approximately 120,000 BTC (~$72 million). The exchange distributed losses across all users and issued BFX tokens as IOUs, eventually repaying users in full. The incident reinforced the importance of hardware wallets and self-custody.

2017: The Bull Run and the Fork

March 10 — First ETF Rejection

The SEC rejected the Winklevoss Bitcoin Trust ETF, citing concerns about market manipulation and surveillance. This rejection began a long journey toward eventual ETF approval.

August 1 — Bitcoin Cash Fork

The Bitcoin Cash hard fork created a separate cryptocurrency with 8 MB blocks (later increased to 32 MB). This was the culmination of the block size debate and represented the first major contentious fork of Bitcoin. The event tested and ultimately demonstrated the resilience of Bitcoin's governance model.

August 24 — SegWit Activation

Segregated Witness (SegWit) activated on Bitcoin, resolving the transaction malleability issue and effectively increasing block capacity. SegWit also enabled the Lightning Network and future protocol upgrades. The activation was considered a victory for the "small block" side of the scaling debate.

September 4 — China Bans ICOs and Exchanges

China banned Initial Coin Offerings and ordered the closure of domestic cryptocurrency exchanges. The regulatory action caused a significant but temporary price decline.

October — CME Announces Bitcoin Futures

The Chicago Mercantile Exchange (CME) announced plans to launch Bitcoin futures contracts, marking institutional finance's first major embrace of Bitcoin derivatives.

December 17 — $19,783 All-Time High

Bitcoin reached $19,783 during a parabolic run fueled by retail speculation, ICO mania, and growing mainstream awareness. The FOMO-driven peak was followed by a prolonged bear market that saw prices decline over 80%.

December 18 — CME Futures Launch

CME Bitcoin futures began trading, providing institutional investors with regulated exposure to Bitcoin for the first time.

2018: Crypto Winter

January-February — The Crash

Bitcoin's price collapsed from its December highs, falling below $7,000 by February. The crash wiped out trillions in market value across the cryptocurrency ecosystem, but also cleared speculative excesses.

March — Google, Facebook, Twitter Ban Crypto Ads

Major platforms banned cryptocurrency advertising, citing fraud prevention. These bans were partially lifted in subsequent years but reflected mainstream concerns about crypto scams.

November — Bitcoin Cash War

The Bitcoin Cash community split over a proposed protocol change, resulting in the Bitcoin SV fork. The "hash war" between the two chains created significant market turbulence.

December — Bitcoin Hits $3,200

Bitcoin reached its bear market bottom of approximately $3,200. The 84% decline from the peak tested the conviction of HODLers but also set the stage for the next cycle.

2019: Building Through the Bear

January — Lightning Network Growth

The Lightning Network reached over 5,000 nodes and 20,000 payment channels, demonstrating that layer-2 scaling was becoming a practical reality. The network's capacity continued growing throughout the year.

June 18 — Facebook Announces Libra

Facebook announced the Libra cryptocurrency project (later renamed Diem), sparking global regulatory discussions about digital currencies. While Libra itself was eventually shelved, it catalyzed central bank digital currency (CBDC) research worldwide.

October — China Embraces Blockchain

Chinese President Xi Jinping made positive statements about blockchain technology, causing a brief Bitcoin price spike. However, China continued to restrict cryptocurrency trading while pursuing its own digital currency (DCEP).

November — Bakkt Launches

The Intercontinental Exchange's Bakkt platform launched physically-settled Bitcoin futures, providing another institutional onramp.

2020: The Institutional Era

March 12 — Black Thursday

Amid the COVID-19 pandemic market crash, Bitcoin fell approximately 50% in a single day, dropping from $7,900 to $3,800. The crash tested the "digital gold" narrative but also demonstrated that Bitcoin could recover from catastrophic sell-offs.

May 11 — Third Halving

Bitcoin's third halving reduced the mining reward from 12.5 BTC to 6.25 BTC. Unlike previous halvings, this one occurred with significantly more institutional attention and infrastructure.

August 11 — MicroStrategy Buys Bitcoin

MicroStrategy, a public company led by Michael Saylor, announced its first Bitcoin purchase of 21,454 BTC for $250 million. This began a trend of corporate treasury allocation to Bitcoin that would accelerate throughout the year.

October 21 — PayPal Announces Bitcoin Support

PayPal announced that its 346 million users would be able to buy, sell, and hold Bitcoin. This announcement was a watershed moment for mainstream accessibility.

December 16 — Bitcoin Passes $20,000

Bitcoin surpassed its 2017 all-time high for the first time, closing above $20,000. Unlike the retail-driven 2017 rally, the 2020 run was characterized by institutional buying and corporate adoption.

2021: The Rollercoaster

January 3 — Bitcoin Hits $34,000

Bitcoin doubled from its December high in just weeks, driven by institutional demand and growing retail interest through platforms like Cash App, Robinhood, and PayPal.

February 8 — Tesla Buys Bitcoin

Tesla announced a $1.5 billion Bitcoin purchase, and Elon Musk's support drove significant mainstream interest. Tesla briefly accepted Bitcoin for vehicle purchases before reversing the decision citing environmental concerns.

April 14 — Coinbase IPO

Coinbase went public on Nasdaq with a direct listing, achieving a valuation over $85 billion on its first day. The IPO represented crypto industry maturation and provided a publicly traded proxy for crypto market health.

April 14 — Bitcoin Reaches $64,400

Bitcoin reached a new all-time high of approximately $64,400, driven by the Coinbase IPO euphoria and continued institutional adoption.

May 12 — Tesla Suspends Bitcoin Payments

Elon Musk announced Tesla would no longer accept Bitcoin due to environmental concerns about mining energy consumption. The announcement triggered a significant market decline.

May 19 — China Mining Crackdown

China announced a crackdown on Bitcoin mining, eventually forcing approximately 50% of global hashrate to relocate. While initially devastating, the migration distributed mining more globally and reduced China's influence over Bitcoin.

June 9 — El Salvador Adopts Bitcoin

El Salvador became the first country to adopt Bitcoin as legal tender under President Nayib Bukele. The move generated both excitement about national adoption and criticism over implementation challenges.

September 7 — El Salvador Bitcoin Law Takes Effect

The Bitcoin Law officially took effect in El Salvador, with the government distributing the "Chivo" wallet loaded with $30 in Bitcoin to citizens.

November 10 — $69,000 All-Time High

Bitcoin reached a new all-time high of approximately $69,000. The broader crypto market capitalization exceeded $3 trillion for the first time.

November 14 — Taproot Upgrade

The Taproot soft fork activated on Bitcoin, the first major upgrade since SegWit in 2017. Taproot introduced Schnorr signatures, improved scripting capabilities, and enhanced privacy for complex transactions.

2022: The Contagion Crisis

January — Bitcoin Drops Below $35,000

Rising interest rates and tightening financial conditions began pressuring risk assets including Bitcoin. The "easy money" era that had fueled the 2020-2021 rally was ending.

May — Terra/Luna Collapse

The collapse of the Terra/Luna ecosystem and its UST stablecoin triggered a broader crypto market crash. Bitcoin fell below $30,000 as contagion spread through lending platforms and hedge funds that had exposure to Terra.

June — Three Arrows Capital Collapse

Three Arrows Capital, a major crypto hedge fund, defaulted on loans exceeding $3 billion after the Terra collapse. The fund's failure cascaded through the industry, taking down Celsius Network, Voyager Digital, and other lending platforms.

November 11 — FTX Collapse

FTX, the world's second-largest cryptocurrency exchange, filed for bankruptcy after revelations that customer funds had been misappropriated by sister company Alameda Research. CEO Sam Bankman-Fried was later arrested and convicted of fraud. The FTX collapse was the industry's most significant scandal, rivaling Mt. Gox in impact and further emphasizing the critical importance of self-custody and proper wallet security.

December — Bitcoin Below $17,000

Bitcoin reached its cycle low of approximately $15,500 in November before stabilizing around $16,500-17,000 through December. The bear market had lasted roughly one year from the all-time high.

2023: Recovery and Ordinals

January — Ordinals Protocol Launched

Casey Rodarmor launched the Ordinals protocol, enabling inscription of data (including images) directly onto individual Bitcoin satoshis. "Bitcoin NFTs" generated both excitement and controversy within the Bitcoin community, sparking debates about the appropriate use of block space.

March — Banking Crisis

The collapse of Silicon Valley Bank, Signature Bank, and Silvergate Bank disrupted cryptocurrency banking access but paradoxically strengthened Bitcoin's narrative as an alternative to the traditional banking system. Bitcoin rallied amid the banking turmoil.

June — BlackRock Bitcoin ETF Filing

BlackRock, the world's largest asset manager, filed for a spot Bitcoin ETF. Given BlackRock's near-perfect ETF approval record, the filing significantly increased expectations for eventual approval and triggered a market rally.

August — Grayscale Court Victory

A federal court ruled that the SEC's rejection of Grayscale's Bitcoin ETF conversion was "arbitrary and capricious," effectively forcing the SEC to reconsider spot Bitcoin ETF applications.

December — Bitcoin Recovers to $44,000

Bitcoin ended 2023 with a strong rally, reaching $44,000 as ETF approval expectations grew. The recovery from the 2022 lows represented a return of confidence to the market.

2024: The ETF Era

January 10 — Spot Bitcoin ETFs Approved

The SEC approved 11 spot Bitcoin ETFs simultaneously, including products from BlackRock (IBIT), Fidelity (FBTC), and other major asset managers. This was arguably the most significant regulatory milestone in Bitcoin's history, opening the door to mainstream investment through familiar financial vehicles.

January-March — Massive ETF Inflows

Spot Bitcoin ETFs attracted billions in inflows within their first months. BlackRock's IBIT became one of the fastest-growing ETFs in history. The institutional demand put persistent upward pressure on Bitcoin's price.

April 19 — Fourth Halving

Bitcoin's fourth halving reduced the mining reward from 6.25 BTC to 3.125 BTC. This was the first halving with spot ETFs providing continuous institutional demand, creating a supply-demand dynamic unlike any previous cycle.

March 14 — New All-Time High: $73,750

Bitcoin reached a new all-time high of approximately $73,750, surpassing the 2021 peak. The milestone was driven by ETF demand, the approaching halving, and growing institutional acceptance.

May — Ethereum Spot ETFs Approved

The SEC approved spot Ethereum ETFs, extending the regulated investment vehicle model to the second-largest cryptocurrency.

September — US Presidential Election Campaign

Cryptocurrency became a significant campaign issue in the US presidential election, with candidates from both parties making statements about crypto regulation. The growing political attention reflected crypto's transition from a niche technology interest to a mainstream political topic.

November — Post-Election Rally

Following the US presidential election, Bitcoin surged past $90,000 as the market priced in expectations of crypto-friendly regulation under the incoming administration.

December — Bitcoin Surpasses $100,000

Bitcoin crossed the $100,000 milestone for the first time in December 2024, a symbolic achievement that had been anticipated for years. The price was driven by sustained ETF inflows, the post-halving supply reduction, and optimism about the incoming regulatory environment.

2025: New Frontiers

January — Strategic Bitcoin Reserve Discussions

The newly inaugurated US administration took steps toward establishing a Strategic Bitcoin Reserve, exploring how the government could acquire and hold Bitcoin as a strategic asset. This represented an unprecedented shift in government attitudes toward cryptocurrency.

February — Regulatory Clarity Advances

New cryptocurrency legislation began advancing through Congress, providing clearer frameworks for stablecoin regulation, exchange oversight, and the classification of digital assets. The regulatory clarity encouraged further institutional participation.

March — Corporate Treasury Adoption Accelerates

Following MicroStrategy's pioneering lead, multiple Fortune 500 companies disclosed Bitcoin treasury positions. The combination of ETF accessibility, regulatory clarity, and corporate adoption created unprecedented institutional demand.

Q2-Q3 — Bitcoin ETFs Surpass Gold ETFs in AUM

Spot Bitcoin ETFs' assets under management surpassed those of gold ETFs, marking a generational shift in how investors think about store-of-value assets.

November — Taproot Asset Protocol Advances

The Taproot Asset Protocol (formerly Taro) on Lightning Network matured, enabling the issuance and transfer of assets (including stablecoins) on Bitcoin's Lightning Network. This expanded Bitcoin's utility beyond simple value transfer.

2026: The Current Landscape

The Evolving Regulatory Environment

Multiple jurisdictions have implemented comprehensive cryptocurrency regulations, with the EU's MiCA framework fully enforced and US legislation providing clearer guidelines. The regulatory maturation has encouraged institutional participation while establishing consumer protections. For current regulatory details, see our crypto regulation guide.

Layer-2 Ecosystem Growth

Bitcoin's layer-2 ecosystem has expanded significantly, with the Lightning Network supporting everyday payments and new protocols enabling smart contract functionality on Bitcoin. The maturation of these technologies addresses many of the scalability concerns that dominated earlier eras.

Self-Custody Renaissance

The lessons of FTX and earlier exchange failures have driven a renaissance in self-custody adoption. More users than ever hold their own keys using hardware wallets and proper seed phrase management. Tools like SafeSeed have made self-custody more accessible to mainstream users.

Lessons from Bitcoin's History

The Importance of Self-Custody

From Mt. Gox to FTX, exchange failures have repeatedly demonstrated that trusting third parties with your Bitcoin introduces significant risk. The recurring lesson — "not your keys, not your coins" — is perhaps the most important principle in cryptocurrency security.

Cycles Are a Feature, Not a Bug

Bitcoin has experienced multiple boom-bust cycles, each reaching higher highs and higher lows. Understanding these cycles through historical context helps maintain perspective during both euphoria and despair.

Technology Evolves Gradually

Major upgrades like SegWit, Taproot, and the Lightning Network took years from proposal to activation. Bitcoin's conservative approach to change, while sometimes frustrating, has maintained the network's security and reliability.

Regulation Is a Marathon

Bitcoin has moved from being ignored by regulators to being regulated through a long, sometimes contentious process. Each regulatory milestone — from the first exchange licenses to spot ETF approval — has expanded legitimate participation.

SafeSeed Tool

Understanding Bitcoin's history highlights the critical importance of self-custody. Generate your own BIP-39 seed phrase securely with SafeSeed's client-side tools. Every era in Bitcoin's history has reinforced that controlling your own keys is the foundation of cryptocurrency security.