On January 3, 2009, an individual or group under the pseudonym Satoshi Nakamoto launched the main Bitcoin network by mining the genesis block containing 50 BTC.
The hash of this block includes the headline from the British publication The Times: “Chancellor on brink of second bailout for banks”.
Shortly before the network’s launch, on October 31, 2008, Bitcoin’s white paper was published.
The first transaction occurred on January 12, 2009, when Satoshi Nakamoto sent 10 BTC to Hal Finney. Three days prior, Bitcoin version 0.1 software was released.
The identity of Nakamoto and the motives behind Bitcoin’s creation remain a mystery, intriguing both the crypto community and beyond.
One likely reason for Bitcoin’s creation was the global financial crisis of 2007-2008, marked by the collapse of major investment banks, widespread production declines, falling demand and commodity prices, rising unemployment, and active government intervention in the economy.
In October 2025, the first cryptocurrency reached a new high of $126,080. At the time of writing, digital gold is trading around $90,000, with the market leader’s capitalization at $1.8 trillion.
Read more about the history of the first cryptocurrency and the possible identity of Satoshi Nakamoto on ForkLog:
