As October 31, 2008, marks the release of the Bitcoin whitepaper, often celebrated as Bitcoin’s original birthday, some take a more technical standpoint to recognize January 3 as the true date when Bitcoin, represented by the BTC ticker, materialized as both a store of value and transferable currency. This date signifies the mining of the genesis block, the first block of Bitcoin, by the mysterious creator Satoshi Nakamoto in 2009.
Reflecting on Bitcoin’s 15th birthday, a broader perspective is taken on the Bitcoin ecosystem. Bitcoin ATMs, introduced nearly five years after the mining of the first block, went live in October 2013, providing an additional channel for exchanging local fiat currencies for Bitcoin. While the initial growth of the Bitcoin ATM network was gradual, it expanded significantly with thousands of Bitcoin and crypto ATMs added annually across the globe. As of January 3, 2024, approximately 34,000 Bitcoin ATMs remain operational worldwide, even after a brief reduction post-2021 due to geopolitical tensions and negative investor sentiment amid a bear market.
15 years after the creation of the first block, Bitcoin miners continue to play a crucial role in securing the network and earning rewards. The mining of Bitcoin has evolved into a viable business model, attracting interest from individuals and corporations.
Bitcoin has seen millions of transactions processed over 15 years, recorded in 825,000 blocks, demonstrating the enduring commitment of miners and investors. Despite resistance to mainstream adoption, Bitcoin gained prominence in hyperinflated economies. El Salvador notably established Bitcoin as legal tender, showcasing its resilience amid global economic challenges. This move influenced leaders of other countries to reconsider Bitcoin’s role, while some nations like China and Saudi Arabia continue to restrict its use due to concerns about decentralization.
Bitcoin’s market capitalization has grown to nearly $900 billion in just 15 years, making it the 9th most valuable asset globally based on market cap alone as of January 2024. Bitcoin’s acceptance has expanded across various business verticals, allowing users to make purchases, from real estate and concert tickets to vacations and education, without reliance on banks or centralized entities.
Professional trader and financial author Oliver Velez anticipates Bitcoin’s continued ascent, expecting it to rank among the top three most valuable assets globally by 2025, surpassing over 7,963 other assets in just 15 years.
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