Bitcoin is the first decentralised peer-to-peer digital currency that operates independently of a central government authority. Invented in the year 2008, Bitcoin is based on the free market ideology published by an entity named Satoshi Nakamoto. The usage began later in the year 2009 as a digital currency with the release of its open-source implementation.The first ever whitepaper called “Bitcoin: A Peer-to-Peer Electronic Cash System,” describing cryptography and digital currencies, was published in 2008 by Nakamoto. What stands independent of any control from a central government authority is now the leading cryptocurrency in the entire crypto ecosystem.

A pseudonymous entity or group of entities under the name Satoshi Nakamoto published a whitepaper in the year 2008 called “Bitcoin: A Peer-to-Peer Electronic Cash System.” This was the year when Bitcoin made a public appearance and was also the start of the Bitcoin network and the decentralised digital currency movement. Even after multiple efforts, the identity remains unknown to date, as Bitcoin is a decentralised digital currency with no control of any governing authority. While the true identity of Bitcoin remains unknown to the world, Bitcoin’s appearance led to the birth of other cryptocurrencies in the ecosystem.

The first Bitcoin block that was mined was in the year 2009. On 3rd January, 2009, the first ever Bitcoin block was mined, which was also known as the genesis block. The Block 0 or genesis block contained the text. Discover more about Satoshi Nakamoto here.

The Genesis block stands as the first block in the blockchain ecosystem. It acts as a foundational block upon which the entire chain is built. Since the genesis block is the first in the chain, it doesn't relate to any earlier blocks like other blocks do. Bitcoin's genesis block, also known as Block 0, was the first block to have the block header hash back in the year 2009. As of July 16, 2025, the Bitcoin blockchain consists of approximately 905,790 blocks.

There’s also a history about Bitcoin’s unspendable block reward - it refers to the 50 BTC mining reward that can never be spent, which was mined from the first block or the genesis block, also known as the Block 0. The 50 BTC with the address (1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa) has never been migrated, and most likely it will never be. Most people interpret it as a symbolic gesture that Bitcoin was never created to reward its inventor but rather to develop something bigger, something huge. Uncover the story behind Bitcoin’s first block here.

An event that takes place once every four years, where the block reward is reduced by 50% is the ideal explanation for Bitcoin halving. Think of it as digital gold mine that becomes harder to mine and the reward reduces as you dig deeper. Bitcoin halving is a similar concept. Every 210,000 blocks, the ‘mining’ reward reduces and this creates a sense of digital scarcity which results in the increase of the value of the Bitcoin due to lower new supplies.

The 2008 financial crisis bought in a daylight when a A pseudonymous entity or group of entities under the name Satoshi Nakamoto published a whitepaper in the year 2008 called “Bitcoin: A Peer-to-Peer Electronic Cash System.” On January 03rd, 2009, the first ever Bitcoin was mined with a message that indicated a major bank bailout. Later in the year 2010, Bitcoin gained its first ever price tag when 10,000 BTC were exchanged for 2 pizzas from Papa John’s pizzas. Bitcoin’s popularity grew when cyber enthusiasts began to join the digital revolution while Bitcoin’s halving was controlling the supply of its rewards.

Bitcoin transformed from an amateur experiment to a robust digital asset in spite of early setbacks like the Mt. Gox bankruptcy and regulatory opposition.By 2017, Bitcoin had made its debut on the global scene, hitting $20,000 and drawing interest from all around the world. Bitcoin’s journey was no lesser than that of a rollercoaster ride. With the highs and the lows that came its way, Bitcoin gained stability in the recent years making a remarkable price reach of 1,02,39,545.61 INR. Companies like El Salvador acknowledged Bitcoin as legal cash, and businesses like Tesla and MicroStrategy started including it in their balance sheets. Bitcoin's underlying scarcity was strengthened in 2024 when the fourth halving decreased mining incentives to 3.125 BTC. Millions of people now trust Bitcoin as a decentralised, international substitute for traditional finance, and it is more than just a type of digital currency. Read Bitcoin’s full journey here.