From its humble beginnings in 2008 to today, Bitcoin’s history has been relatively short but very eventful. The original protocol for this popular digital currency was created in 2008 by Satoshi Nakamoto, believed to be a pseudonym for an unknown developer or group of developers.
Nakamoto launched the Bitcoin network just a year later and began mining the currency— an estimated 1 million bitcoins were mined in the early years. The creator(s) of this first-of-its-kind asset developed the cryptocurrency in response to the Great Recession of 2007-2009, spurred by a distrust of the traditional banking system and concerns about its stability.
Given the recent values of Bitcoin, it’s hard to believe the currency first started trading on exchanges in 2010 at under $0.10. Since then, it’s experienced astronomical growth and some pretty wild price swings. At its most recent high, one bitcoin was worth over $93,000—a far cry from trading for pennies in its earliest days.
Whether you’re thinking of investing in Bitcoin or you’ve held this cryptocurrency for several years, it’s fun to look back at this groundbreaking asset’s history. Read on for insights on Bitcoin milestones, historical returns, and how its returns compare to those of other assets. Historical performance doesn’t guarantee future returns.