The recent record high of $100,000) of Bitcoin fueled excitement among investors and shifted the playing ground. This milestone is the culmination of a journey of many years among stages of invention, stages of market turmoil, and stages of regulatory war. Here, we look at the significant events in the history of Bitcoin that made Bitcoin’s ultimate success possible.
The Genesis of Bitcoin
The origin story of Bitcoin began in 2008, with the name Satoshi Nakamoto with the idea of decentralized digital money. This innovation, detailed in a whitepaper, sought to create a financial system outside the control of governments and banks. However, the transaction was only recorded in 2010 when Bitcoin was at last used to make a live transaction, the moment in time concretized when an individual purchased 10,000 Bitcoin instead of two pizzas.
These formative years have led to fundamental later life events in the genesis of Bitcoin and have shown its revolutionary role in the domain of financial assets.
Early Regulatory Struggles
By 2013, Bitcoin had begun attracting mainstream attention. Cameron and Tyler Winklevoss, co-founders of Gemini, have submitted for review the first Bitcoin ETF by the U.S. SEC. Meantime, Grayscale Investments launched the Bitcoin Investment Trust, which opened a window for institutional investors into the crypto world.
However, regulatory hurdles quickly became apparent. In 2017, the SEC rejected the trading of the Winklevoss ETF application application since the Bitcoin market is still immature. These legislative challenges shall be pivotal turning points in the history of Bitcoin, shaping the eventual trickle of legitimacy of BTC in the broader mainstream financial economy.
The Rise of Bitcoin ETFs
The next big step occurred in 2021 when Canada gave its blessing to the first spot Bitcoin ETF. In the US, the SEC provided Tesla with the ability to sell a Bitcoin futures ETF, a change in regulatory perception. This approval fueled the rise of Bitcoin and thus showed the increasing interest in cryptocurrency investments.
This progress also revealed the most critical events in the life of Bitcoin itself as regulators began to establish the required infrastructure for digital assets.
Market Crashes and Resilience
The crypto market experienced turmoil in 2022 characterized by sharp declines in prices as well as by high-profile failures such as FTX. Despite the chaos, institutional interest in Bitcoin remained strong. By 2023, applications by the “big shots,” including BlackRock, Fidelity, etc. Expressing the desire for a spot Bitcoin ETF in the U.S.
These trials brought to the forefront pivotal moments in the history of Bitcoin, demonstrating its resilience against adverse situations and its ability to come out even stronger.
The Trump Effect on Bitcoin
Bitcoin gained traction again in 2024 when Donald Trump came back on the political scene. His pro-crypto stance base, for example, plans to create a national Bitcoin reserve and policy actions to turn the US a “crypto capital”, boosted the market. After that approval by the SEC of several Bitcoin ETFs at the beginning of the year only served to maintain this momentum.
By November, Trump’s victory triggered an eruption of exponential growth for Bitcoin, with an all-time high tag of $100,000. These are indeed crucial developments, too, for Bitcoin’s journey to a mainstream financial instrument.
The Road Ahead
The historical rise of Bitcoin to six figures is a demonstration of the technical development, evolutionary market, and ascending institutionalization of the system. Commencing life from an incredibly small scale, evolving to become an ETF and the money world goods, every one of these phases has caused important change points in the evolution of Bitcoin.
Main events in the history of Bitcoin
| Year | Event |
|---|---|
| 2008 | Bitcoin concept introduced by Satoshi Nakamoto. |
| 2010 | First retail transaction: 10,000 BTC for two pizzas. |
| 2013 | Winklevoss twins file first Bitcoin ETF application; Grayscale launches Bitcoin Investment Trust. |
| 2016 | Grayscale and Winklevoss brothers amend their ETF applications. |
| 2017 | Grayscale became an SEC-reporting entity; the first publicly traded Bitcoin fund in the U.S. |
| 2018 | SEC rejects Winklevoss twins’ second ETF application. |
| 2020 | Bitcoin concept was introduced by Satoshi Nakamoto. |
| 2021 | ProShares Bitcoin Futures ETF approved; first spot Bitcoin ETF launches in Canada. |
| 2022 | Major crypto collapses (FTX, Celsius); Grayscale sues SEC after ETF rejection. |
| 2023 | BlackRock files for Bitcoin ETF; U.S. court sides with Grayscale, ordering SEC review. |
| 2024 (Jan) | SEC approves 11 spot Bitcoin ETFs, sparking huge investor inflows. |
| 2024 (March) | Bitcoin reaches $70,000. |
| 2024 (July) | Trump pledges U.S. dominance in cryptocurrency. |
| 2024 (Nov) | SEC rejects the Winklevoss application, citing market immaturity. |
| 2024 (Dec) | Bitcoin crosses $100,000, marking a 140% annual surge. |
Also, see: Bitcoin reaches all time-high, crosses $100,000 for the first time