Since being created, Bitcoin has experienced several milestones. Here’s a look back at some of the most significant moments in the short history of this cryptocurrency:
1. In March 2010, Bitcoin began trading on the now-defunct Bitcoin Market, one of the first-ever cryptocurrency exchanges.
A Florida man named Laszlo Hanyecz bought pizza with 10,000 bitcoin in May 2010, making it the first time anyone used the currency to purchase something.
2. In June 2011, Bitcoin saw its first significant price spike, climbing to a value of $29.60 (up from just $0.30 in January) before declining again later that year.
3. The second half of 2013 marked another major spike—from $68 on July 4th to $1,237 on December 3rd before declining again.
One of Bitcoin’s most significant increases happened in 2017, with its value surging from around $1,000 at the start of the year to $19,345 by mid-December.
4. The Bitcoin hype cooled in 2018, resulting in significant declines—its lowest value was around $3,232 in December of that year.
In 2019, Bitcoin saw another spike, hitting $13,813 on June 26th before declining.
5. After seeing modest ups and downs through October 2020, Bitcoin’s value began to surge again. It hit an astronomical high of over $69,000 in November 2021.
6. Bitcoin dropped by over 75% in 2022