A Brief History of Bitcoin

Bitcoin, the world's first decentralized cryptocurrency, was introduced in 2009 by an anonymous figure or group known as Satoshi Nakamoto. It operates on a peer-to-peer network, eliminating the need for a central authority like a bank or government.

The Origin

Bitcoin was created as a response to the global financial crisis of 2008. Satoshi Nakamoto published a whitepaper describing the underlying technology: the blockchain.

Key Milestones

• In 2010, the first commercial Bitcoin transaction occurred when 10,000 BTC were used to buy two pizzas.
• In 2011, Bitcoin reached parity with the US dollar.
• Today, Bitcoin has grown in popularity, spawning thousands of other cryptocurrencies.

Basic Facts

• Bitcoin's maximum supply is capped at 21 million coins.
• Transactions are verified by miners who add blocks to the blockchain.
• Bitcoin's price is highly volatile and influenced by market demand.