Bitcoin’s greatest milestones

Bitcoin, the first decentralized cryptocurrency, has had an eventful journey to say the least. Let’s walk through some of the most significant points in its history to see how they shaped today's crypto landscape.

Key takeaways

• Bitcoin started out humble, made eating pizza a niche holiday, and in less than 20 years is now discussed at the highest levels.
• Bitcoin was initially not worth any fiat, but now its all-time high is over $100,000.
• Keep an eye on halvings—they tend to correlate with increased attention and prices.

The Genesis Block

It all started on January 3, 2009, when the mysterious Satoshi Nakamoto mined the Genesis Block—in other words, the first link in the Bitcoin blockchain was created. Embedded within the block’s data was a cryptic message:

This line reflected the financial crisis of the time and highlighted Bitcoin’s goal to offer an alternative to traditional finance. The Genesis Block marked the birth of blockchain technology as we know it today.

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Riding the rollercoaster of Bitcoin’s price

Bitcoin started out virtually worthless, but in less than two decades it has become one of the world's most valuable individual assets. There have been bumps along the way, but overall it's been a steady climb upward in value.

To zoom in a bit, here's a year-by-year breakdown of BTC's ups and downs.

• 2009-2010: Started with no market price. The first recorded Bitcoin price in 2010 was $0.0008.
• 2011: Bitcoin hit $1 for the first time in February and ended the year at ~$4.
• 2012: Ended the year around $13.
• 2013: Bitcoin's first major bull run—it briefly surged past $1,000 and ended the year around $750.
• 2014: Prices settled, leading many to call Bitcoin a fad (not for the last time), and ended the year around $320.
• 2015: A slow recovery, closing the year around $430.
• 2016: Ended at $950.
• 2017: This bull run pushed Bitcoin up against the symbolically significant ****$20,000 mark, and closed the year around $14,000.
• 2018: Bear market—BTC ended around $3,800.
• 2019: Recovered to $7,200.
• 2020: Closed the year around $29,000 after the pandemic accelerated crypto adoption.
• 2021: Reached a remarkable all-time high of $69,000 in November, ending around $47,000.
• 2022: Faced a bearish trend, finishing the year around $16,500.
• 2023: Regained momentum, crossing $30,000 and stabilizing above that range by the year’s end.
• 2024: Another bull run associated with the spring halving; Bitcoin passed $100,000 for the first time and ended the year above $93,000.

Bitcoin Halvings

Written into Bitcoin’s DNA is a function that cuts block rewards for Bitcoin miners by half roughly every four years—a process known as halving.

• 2012: Reward cut from 50 BTC to 25 BTC. Bitcoin rose from ~$12 to over $1,000 in the following year.
• 2016: Reward cut to 12.5 BTC. Prices surged from ~$650 to ~$19,783 by the end of 2017.
• 2020: Reward cut to 6.25 BTC. BTC climbed from ~$8,500 to over $69,000 within 18 months.
• 2024: Reward cut to 3.125 BTC. Prices steadily climbed and reached its all-time high of over $100,000 by the end of the year.

Halving events tend to be correlated with bull runs and periods of rising prices that last around a year or a year and a half. This is largely thanks to increased media coverage and interest from previous skeptics.

Bitcoin Pizza Day

On May 22, 2010, programmer Laszlo Hanyecz made history by using Bitcoin for a real-world purchase—the first time anyone had attempted such a thing. He traded 10,000 BTC for two pizzas, worth about $41 at the time.

Today, those 10,000 BTC are worth hundreds of millions of dollars, making it the most expensive pizza transaction ever. Bitcoin Pizza Day is now celebrated annually as a quirky reminder of Bitcoin’s humble beginnings.

Bitcoin’s all-time highs

Despite its ups and down, Bitcoin’s price has reached several notable all-time highs—ATHs—over the years.

• 2013: Surpassed $1,000 for the first time.
• 2017: Smashed all previous records with a high of $19,783.
• 2021: Amid a booming bull run, BTC rocketed to $69,000 in November.
• 2024: The world took notice again as Bitcoin reached its current all-time high of slightly above $108,000 on December 17th.

Some analysts believe new peaks of $150,000 are possible by the end of 2025, and over $1 million in the near future. Whether—or when—these predictions may come to pass isn't clear, but Bitcoin’s overall upward trend has been undeniable.

From an obscure Genesis Block to a multi-trillion-dollar market cap, these milestones remind us that Bitcoin's story is still being written. Which means it's never too late to get in on this revolution in money or revise your current strategy—the easy-to-use Invity app is the best way to do both.