Bitcoin celebrated its 17th birthday on January 3, 2026. On this day in 2009, Satoshi Nakamoto mined the Genesis Block and laid the foundation for the world's first decentralized cryptocurrency. Block number 0 contained a hidden message that remains the manifesto of the Bitcoin movement to this day.
Today, Bitcoin trades at around $90,000 with a market capitalization exceeding $1.8 trillion. The network has processed over 900,000 blocks and reaches a hashrate exceeding 1 zettahash per second. Bitcoin has evolved from an obscure experiment among cryptographers to a global financial instrument that attracts institutional investors and retail investors alike.
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The birth of a new era
Satoshi Nakamoto mined the Genesis Block on January 3, 2009, at 18:15:05 UTC. The true identity of the creator remains unknown to this day. Nakamoto embedded a message in the block: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks". This headline from the British newspaper The Times served as both a timestamp and a political statement. Bitcoin thus emerged not just as a technological experiment. It was a direct response to a financial system that many considered broken.
The first 50 BTC in the Genesis Block are technically lost. Still, Bitcoin users have been sending small amounts to the Genesis address for years. These transfers serve as symbolic tributes to the creator. Six days later, on January 9, 2009, the network mined block 1. At the same time, Satoshi released the Bitcoin software publicly. Three days later, cryptographer Hal Finney received the first Bitcoin transaction in history: 10 BTC directly from Nakamoto.
The early Bitcoin community consisted of a handful of developers and cryptography enthusiasts. Back then, no one imagined what proportions this project would take. The first documented exchange rate emerged in late 2009. Users on the BitcoinTalk forum traded 5,050 BTC for $5.02. This corresponds to a price of about $0.001 per Bitcoin.
From zero to hero: The most important milestones
Bitcoin's history reads like a roller coaster ride. On May 22, 2010, programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas, worth about $25 at the time. This day is now celebrated as "Bitcoin Pizza Day". Those 10,000 BTC would be worth over $900 million today.
In February 2011, Bitcoin reached parity with the dollar for the first time. A few months later, the price shot up to $30 on the Mt. Gox exchange. The first halving in November 2012 reduced the block reward from 50 to 25 BTC. In November 2013, Bitcoin then broke through the $1,000 mark. Then came the crash: Mt. Gox, then the largest Bitcoin exchange, lost approximately 744,000 BTC through a hack in 2014. Consequently, the price crashed and only recovered years later.
The second halving in 2016 reduced the reward to 12.5 BTC. At the end of 2017, Bitcoin subsequently reached nearly $20,000. A longer bear market followed. The third halving cycle in 2020 brought a reward of 6.25 BTC per block. Institutional investors like MicroStrategy and Tesla also began adding Bitcoin to their balance sheets. In April 2021, the price reached a new all-time high of $64,895 before another brutal crypto winter set in.
2024 and 2025: Breakthrough into the mainstream
In January 2024, the US Securities and Exchange Commission approved the first spot Bitcoin ETFs. This step marked a turning point. For the first time, traditional investors could invest directly in Bitcoin through regulated products. Capital inflows exceeded all expectations. In March 2024, Bitcoin consequently reached $73,737, driven by ETF demand.
The fourth halving on April 19, 2024, finally reduced the block reward to 3.125 BTC. The Bitcoin network also processed its one billionth transaction on May 5, 2024. This happened 15 years and four months after the Genesis Block. The network's hashrate also rose above 1 zettahash per second in 2025. This technical milestone demonstrates the network's enormous computing power.
In October 2025, Bitcoin reached its current all-time high of around $126,000. The combination of ETF inflows, the halving effect, and increasing institutional acceptance drove the price upward. At the start of 2026, the price hovers around $90,000. This follows profit-taking and macroeconomic adjustments. The market capitalization still exceeds $1.8 trillion.
A network for the next 17 years
The Bitcoin network shows no signs of fatigue after 17 years. Over 560 million people worldwide own cryptocurrencies. Bitcoin is represented in 68 percent of all active wallets. Estimates suggest that about 100 million people directly hold Bitcoin. However, fewer than one million wallets contain one full Bitcoin or more.
The mining industry has since become professionalized. US mining pools like Foundry USA dominate with a market share of 25.7 percent. Average production costs for one Bitcoin stand at about $94,000. At the same time, new ASIC miners with energy efficiencies of 13 to 16.5 joules per terahash continue to drive the hashrate upward. Analysts at CoinShares forecast that the network will reach the 2 zettahash mark in early 2027.
The millionth block is expected to be mined in the first months of 2027. After that, further halvings will gradually reduce the block reward. The last Bitcoin is scheduled to be mined in 2140. Satoshi Nakamoto's vision has proven remarkably resilient after 17 years. A decentralized monetary system without central control exists and functions. Whether Bitcoin will still be relevant in another 17 years remains open. The development so far speaks in its favor.
