Bitcoin Progression Over The Years.
Bitcoin is the world’s first decentralized cryptocurrency – a type of digital asset that uses public-key cryptography to record, sign and send transactions over the Bitcoin blockchain.
Launched on Jan. 3, 2009, by an anonymous computer programmer (or group of programmers) under the pseudonym “Satoshi Nakamoto”, the Bitcoin network (with an uppercase “B”) is a peer-to-peer electronic payment system that uses a native cryptocurrency called bitcoin (lower case “b”) to transfer value over the internet or act as a store of value like gold and silver.
Each bitcoin is made up of 100,000,000 satoshis (the smallest units of bitcoin), making individual bitcoin divisible up to 8 decimal places. This allows people to purchase fractions of a bitcoin with as little as one U.S. dollar.
Bitcoin and other cryptocurrencies are like the email of the financial world. The currency does not exist in physical form, value is transacted directly between the sender and the receiver, and there is no need for banking intermediaries to facilitate the transaction. Everything is done publicly through a transparent, immutable, distributed ledger technology called blockchain.
The first 50 bitcoins are mined by Satoshi Nakamoto, the pseudonymous inventor of Bitcoin.
$100 Bitcoin Milestone
After nearly two years of inertia, bitcoin hits $100 for the first time on April Fools’ Day and then booms — doubling to more than $200 apiece in the span of a week.
$1,000 Bitcoin Milestone
Bitcoin soars past the $1,000 mark, near doubling in value in the span of a week. The frenzied buying appears to be propelled by Chinese investors, who, it’s assumed, want to move their money into untraceable accounts. Bitcoin peaks at $1,216.70 by the end of the month. The price won’t break $1,000 again for three years.
$10,000 Bitcoin Milestone
Bitcoin blasts past $10,000 mark. Hours later the price tops $11,000 and keeps powering higher. The meteoric rise gets a shrug from investors, and stays within range of its peak valuation past the Thanksgiving holiday weekend. The main price-drivers are new main-street investors.