Going deeper
A history of Bitcoin, from 2008 to today
From a research paper to a global market. Bitcoin's birth, its first purchase, the big booms and busts, the ETF approval and the Bangladesh context, on one timeline.
2 min read · Last reviewed: 14 October 2026
Timeline
| When | Event |
|---|---|
| October 2008 | The Bitcoin white paper is published under the name "Satoshi Nakamoto" |
| 3 January 2009 | The first block (the "genesis block") is mined and the network goes live |
| 22 May 2010 | Two pizzas are bought for 10,000 bitcoin, the first known real-world purchase |
| 2011 | Satoshi Nakamoto withdraws from public discussion |
| February 2014 | The Mt. Gox exchange collapses, losing a huge amount of bitcoin |
| December 2017 | The first big boom takes the price to about $20,000, followed by a crash the next year |
| 2020–2021 | Large companies and institutions take an interest; the price hits new highs |
| September 2021 | El Salvador makes Bitcoin legal tender |
| 2022 | The Terra-Luna and FTX collapses trigger a deep downturn |
| January 2024 | Spot Bitcoin ETFs are approved in the United States |
| April 2024 | The fourth halving cuts the block reward to 3.125 BTC |
| December 2024 | The price passes $100,000 for the first time |
The Bangladesh context
| When | Event |
|---|---|
| 2014 | Bangladesh Bank is reported to have issued its first caution about Bitcoin |
| December 2017 | Bangladesh Bank warns the public to refrain from virtual currency transactions |
| July 2021 | Bangladesh Bank restates that crypto transactions are not permitted |
| September 2022 | A circular bars banks and mobile financial services from virtual asset transactions |
| August 2023 | The MTFE platform collapses, hurting a large number of investors |
Details and sources: the legal status of crypto in Bangladesh, lessons from MTFE.
Three lessons from history
- Booms and busts are both normal. Every big rise has been followed by a big fall. See why prices are so volatile.
- Companies collapse; the technology keeps running. When firms like Mt. Gox and FTX failed, the Bitcoin network carried on, but their customers lost money.
- Scammers ride every wave. Fake projects are promoted hardest when prices are rising.
Past prices cannot predict future ones. See today's price on the Bitcoin price page.
Frequently asked questions
What was the first real-world Bitcoin purchase?
On 22 May 2010 a programmer in the United States paid 10,000 bitcoin for two pizzas. The date is now known as "Bitcoin Pizza Day".
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