A short history of cryptocurrency
January 2010:
The first Bitcoin block is mined by Satoshi Nakamoto, the creator of Bitcoin.
May 2010:
The first real-world transaction involving Bitcoin takes place, when a programmer named Laszlo Hanyecz buys two pizzas for 10,000 BTC (worth around $41 at the time).
July 2010:
The Bitcoin valuation is listed on the Mt. Gox exchange for the first time, at a price of $0.06 per BTC.
August 2010:
The first major security vulnerability is discovered in the Bitcoin protocol, allowing users to create unlimited bitcoins. The bug is quickly fixed.
October 2010:
The first Bitcoin exchange, Bitcoin Market, goes live.
November 2010:
The market cap of Bitcoin reaches $1 million for the first time.
December 2010:
The first Bitcoin difficulty adjustment takes place, increasing the computational difficulty of mining new blocks. Overall, 2010 was a pivotal year for the cryptocurrency industry, with Bitcoin gaining significant attention and momentum.
January 2011:
The market cap of Bitcoin reaches $10 million for the first time.
February 2011:
The Bitcoin software client is updated to support multi-core processors, making mining more efficient.
March 2011:
The first Bitcoin conference takes place in New York City.
June 2011:
Mt. Gox suffers a major security breach, resulting in the theft of 2,000 BTC.
August 2011:
The first altcoin, Namecoin, is launched.
September 2011:
The market cap of Bitcoin reaches $100 million for the first time.
November 2011:
Litecoin, the first significant altcoin, is launched. Bitcoin reaches parity with the US dollar, with a value of $1 per BTC.
December 2011:
The European Union declares Bitcoin to be a "currency unit" for regulatory purposes. Bitcoin experiences a significant price crash, falling from a high of $30 per BTC to under $3. Overall, 2011 was a year of growth and challenges for the cryptocurrency industry, with the emergence of new altcoins and the first major security breach at a Bitcoin exchange.
January 2012:
Bitcoin experiences a surge in adoption, with the number of daily transactions doubling to over 6,000.
February 2012:
The Bitcoin.org domain name is anonymously transferred to new owners, causing concern about the future of the website.
May 2012:
The first Bitcoin halving event takes place, reducing the block reward from 50 BTC to 25 BTC.
July 2012:
BitPay, one of the first Bitcoin payment processors, is launched.
August 2012:
Bitcoinica, a Bitcoin trading platform, suffers a security breach resulting in the theft of 18,000 BTC.
September 2012:
The Bitcoin Foundation is established to promote and standardise Bitcoin.
October 2012:
Bitcoin receives mainstream media attention after it is used to purchase drugs on the Silk Road marketplace.
November 2012:
The market cap of Bitcoin reaches $1 billion for the first time. The first Bitcoin ATM is installed in Vancouver, Canada.
December 2012:
Bitcoin experiences a major price rally, reaching a high of $13.50 per BTC. Overall, 2012 was a year of both growth and challenges for the cryptocurrency industry, with the emergence of new payment processors and the establishment of the Bitcoin Foundation, as well as significant security breaches and concerns about the use of Bitcoin in illicit activities.
January 2013:
Bitcoin experiences a major price rally, reaching a high of over $30 per BTC.
February 2013:
The Bitcoin Foundation hires a lobbying firm to represent its interests in Washington D.C.
March 2013:
The Financial Crimes Enforcement Network (FinCEN) issues guidance on the regulation of virtual currencies. The market cap of Bitcoin reaches $1 billion for the second time.
April 2013:
The price of Bitcoin reaches an all-time high of over $260 per BTC, before crashing to below $50 in a matter of days.
May 2013:
The Winklevoss twins file for a Bitcoin ETF, seeking approval to list it on a major exchange.
June 2013:
The first Bitcoin conference in Asia takes place in Singapore. Edward Snowden leaks documents revealing the NSA's interest in Bitcoin and other virtual currencies.
July 2013:
The Silk Road marketplace is shut down by the FBI, and its founder is arrested. The market cap of Bitcoin reaches $2 billion for the first time.
August 2013:
The Bitcoin Foundation announces a plan to create a Bitcoin university.
October 2013:
The first Bitcoin ATM is installed in the United States, in a coffee shop in Vancouver.
November 2013:
China announces restrictions on Bitcoin exchanges, causing the price to drop significantly.
December 2013:
The market cap of Bitcoin reaches $10 billion for the first time. China bans financial institutions from handling Bitcoin transactions. Overall, 2013 was a year of significant growth and mainstream attention for Bitcoin, but also saw increased regulatory scrutiny and concerns about its use in illegal activities.
January 2014:
The New York Department of Financial Services holds public hearings on the regulation of virtual currencies.
February 2014:
Mt. Gox, once the world's largest Bitcoin exchange, suspends trading and files for bankruptcy protection after losing 850,000 BTC. The market cap of Bitcoin drops below $7 billion for the first time in six months.
March 2014:
The IRS issues guidance on the tax treatment of Bitcoin and other virtual currencies.
April 2014:
The Winklevoss twins file an amended proposal for a Bitcoin ETF. The market cap of Bitcoin drops below $5 billion for the first time in over a year.
May 2014:
The first Bitcoin conference in Russia takes place in Moscow. The market cap of all cryptocurrencies combined surpasses $10 billion for the first time.
June 2014:
The Bitcoin Foundation elects a new board of directors, including a number of well-known industry figures.
July 2014:
BitLicense, a controversial regulatory framework for virtual currencies, is proposed by the New York Department of Financial Services.
August 2014:
Overstock.com becomes the first major retailer to accept Bitcoin as payment.
September 2014:
The market cap of all cryptocurrencies combined surpasses $7 billion for the first time.
October 2014:
The price of Bitcoin drops to below $300 per BTC, its lowest level in over a year. Microsoft begins accepting Bitcoin as payment for Xbox and Windows store purchases.
November 2014:
The market cap of all cryptocurrencies combined surpasses $5 billion for the first time since April 2014.
December 2014:
The European Banking Authority issues a warning on the risks of using virtual currencies. The market cap of all cryptocurrencies combined drops below $5 billion for the first time since October 2013. Overall, 2014 was a year of both growth and challenges for the cryptocurrency industry, with the collapse of Mt. Gox and the introduction of BitLicense bringing increased regulatory scrutiny, while major retailers such as Overstock.com and Microsoft began accepting Bitcoin as payment.
January 2015:
Coinbase raises $75 million in a funding round, the largest ever for a Bitcoin company at the time.
February 2015:
Overstock.com announces plans to issue stock using blockchain technology. The market cap of all cryptocurrencies combined reaches $4 billion for the first time since August 2014.
March 2015:
The Australian Tax Office declares that Bitcoin is a form of property for tax purposes. The market cap of all cryptocurrencies combined reaches $4 billion for the second time in a row.
April 2015:
The New York Department of Financial Services issues the final version of BitLicense, a controversial regulatory framework for virtual currencies. The market cap of all cryptocurrencies combined reaches $4 billion for the third time in a row.
May 2015:
The first Bitcoin conference in Latin America takes place in Brazil. The market cap of all cryptocurrencies combined reaches $7 billion for the first time since March 2014.
June 2015:
The CFTC charges a Bitcoin options trading platform with operating an unregistered derivatives exchange. The market cap of all cryptocurrencies combined reaches $10 billion for the first time since January 2014.
July 2015:
The UK government announces plans to regulate digital currencies for the first time. The market cap of all cryptocurrencies combined reaches $7 billion for the first time since May 2015.
August 2015:
The SEC issues an investor alert on the risks of Bitcoin and other virtual currencies. The market cap of all cryptocurrencies combined drops below $4 billion for the first time since April 2014.
September 2015:
The Winklevoss twins announce plans to launch Gemini, a Bitcoin exchange aimed at institutional investors. The market cap of all cryptocurrencies combined drops below $4 billion for the first time since February 2014.
October 2015:
The US Marshals Service auctions off 44,000 BTC seized from Silk Road founder Ross Ulbricht. The market cap of all cryptocurrencies combined drops below $3 billion for the first time since August 2014.
November 2015:
The market cap of all cryptocurrencies combined drops below $3 billion for the second time in a row. The Australian government releases a report on the regulation of digital currencies.
December 2015:
The price of Bitcoin surpasses $400 for the first time in over a year. The market cap of all cryptocurrencies combined drops below $4 billion for the first time since September 2014. Overall, 2015 saw continued growth and maturation in the cryptocurrency industry, with major funding rounds for companies like Coinbase and the announcement of Gemini, a Bitcoin exchange aimed at institutional investors. However, regulatory uncertainty and price volatility remained key challenges.
January 2016:
The price of Bitcoin drops below $400 for the first time since 2013. The European Union proposes new regulations for virtual currencies.
February 2016:
The US Marshals Service auctions off 2,700 BTC seized from various criminal cases. The Linux Foundation launches the Hyperledger Project, a collaborative effort to develop blockchain technology.
March 2016:
The Winklevoss twins' proposed Bitcoin ETF is denied by the SEC. The price of Bitcoin surpasses $400 again for the first time since January.
April 2016:
The Reserve Bank of India creates a committee to study digital currencies. The price of Bitcoin surpasses $450 for the first time since November 2015.
May 2016:
Australian entrepreneur Craig Wright claims to be Satoshi Nakamoto, the creator of Bitcoin. The price of Bitcoin surpasses $500 for the first time since August 2014.
June 2016:
The DAO, a decentralised autonomous organization built on Ethereum, is hacked and loses over $50 million worth of Ether. The price of Bitcoin surpasses $700 for the first time since February 2014.
July 2016:
The Ethereum community splits over the decision to hard fork and recover the stolen funds from The DAO hack. The price of Bitcoin surpasses $600 for the first time since June.
August 2016:
Bitfinex, one of the largest Bitcoin exchanges, is hacked and loses over 119,000 BTC. The price of Bitcoin surpasses $700 again for the first time since June.
September 2016:
China's central bank bans financial institutions from dealing in Bitcoin. The price of Bitcoin surpasses $600 again for the first time since August.
October 2016:
The price of Bitcoin surpasses $700 again for the first time since September. The World Economic Forum publishes a report on the potential of blockchain technology.
November 2016:
Donald Trump is elected President of the United States, causing a brief dip in the price of Bitcoin. The price of Bitcoin surpasses $700 again for the first time since November.
December 2016:
The price of Bitcoin surpasses $1,000 for the first time since 2013. The SEC delays its decision on the Winklevoss twins’ proposed Bitcoin ETF. Overall, 2016 was a year of highs and lows for the cryptocurrency industry, with major hacks and controversies surrounding The DAO and the Ethereum hard fork, as well as increased regulatory scrutiny and bans in certain countries. However, the price of Bitcoin rebounded strongly, surpassing $1,000 for the first time in years and signaling continued interest and growth in the industry.
January 2017:
The total market cap of all cryptocurrencies surpasses $20 billion. China's central bank announces investigations into major Bitcoin exchanges.
February 2017:
The price of Bitcoin surpasses the price of an ounce of gold for the first time ever. The Enterprise Ethereum Alliance is formed, with major companies such as Microsoft and JPMorgan joining.
March 2017:
The SEC denies the Winklevoss twins’ proposed Bitcoin ETF for the second time. The market cap of all cryptocurrencies surpasses $25 billion.
April 2017:
Japan recognises Bitcoin as a legal payment method. The market cap of all cryptocurrencies surpasses $30 billion.
May 2017:
The price of Bitcoin surpasses $2,000 for the first time ever. The market cap of all cryptocurrencies surpasses $80 billion.
June 2017:
The price of Ethereum surpasses $400 for the first time ever. The market cap of all cryptocurrencies surpasses $100 billion.
July 2017:
The SEC rules that certain tokens sold during ICOs may be considered securities. The market cap of all cryptocurrencies surpasses $100 billion for the first time ever.
August 2017:
Bitcoin Cash is created as a result of a hard fork in the Bitcoin blockchain. The market cap of all cryptocurrencies surpasses $160 billion.
September 2017:
China bans all ICOs and cryptocurrency exchanges. The price of Bitcoin surpasses $5,000 for the first time ever.
October 2017:
CME Group announces plans to launch Bitcoin futures contracts. The market cap of all cryptocurrencies surpasses $200 billion.
November 2017:
Bitcoin reaches a new all-time high of nearly $20,000. The market cap of all cryptocurrencies surpasses $300 billion.
December 2017:
Bitcoin futures contracts begin trading on the CME and CBOE exchanges. The market cap of all cryptocurrencies surpasses $500 billion. Overall, 2017 was a year of tremendous growth and mainstream attention for the cryptocurrency industry, with Bitcoin reaching new all-time highs and the total market cap of all cryptocurrencies skyrocketing. However, the year also saw increased regulatory scrutiny and a number of high-profile hacks and scams, underscoring the need for continued development and innovation in the industry.
January 2018:
The price of Bitcoin reaches an all-time high of nearly $20,000 in December 2017 and then crashes, dropping to around $11,000 in early January. Facebook bans all cryptocurrency ads.
February 2018:
The SEC and CFTC testify before Congress on the regulation of cryptocurrencies. The total market cap of all cryptocurrencies drops below $300 billion for the first time since November 2017.
March 2018:
Google bans all cryptocurrency ads. The Lightning Network, a layer-2 solution for Bitcoin that promises faster and cheaper transactions, sees increased adoption.
April 2018:
The price of Bitcoin drops below $7,000, its lowest level since November 2017. The SEC launches a probe into ICOs and subpoenas multiple companies for information.
May 2018:
The General Data Protection Regulation (GDPR) goes into effect in the EU, which impacts the collection and storage of personal data in the cryptocurrency industry. The total market cap of all cryptocurrencies drops below $400 billion for the first time since November 2017.
June 2018:
South Korean cryptocurrency exchange Bithumb is hacked for over $30 million. The EOS mainnet launches after a year-long ICO, sparking controversy over its centralised governance model.
July 2018:
The SEC rejects the Winklevoss twins’ proposed Bitcoin ETF for the third time. The total market cap of all cryptocurrencies drops below $250 billion for the first time since November 2017.
August 2018:
The SEC delays its decision on several Bitcoin ETF proposals. The total market cap of all cryptocurrencies drops below $200 billion for the first time since November 2017.
September 2018:
Goldman Sachs announces plans to launch a Bitcoin trading desk but later puts those plans on hold. The total market cap of all cryptocurrencies drops below $200 billion.
October 2018:
The price of Bitcoin drops below $6,000, its lowest level since November 2017. Fidelity Investments announces the launch of a new company focused on providing cryptocurrency custodial services.
November 2018:
Bitcoin Cash undergoes a contentious hard fork, resulting in the creation of two separate chains. The total market cap of all cryptocurrencies drops below $150 billion.
December 2018:
The total market cap of all cryptocurrencies drops below $100 billion for the first time since October 2017. The SEC delays its decision on several Bitcoin ETF proposals again. Overall, 2018 was a year of regulatory uncertainty and market volatility for the cryptocurrency industry, as prices tumbled and the SEC stepped up its enforcement efforts against ICOs and other crypto-related activities. However, the year also saw continued innovation and development in the industry, with new companies and products being launched and increased institutional interest in cryptocurrencies.
January 2019:
The price of Bitcoin reaches a high of around $13,800 before dropping back down to around $3,400 by the end of the year. Nasdaq announces plans to launch Bitcoin futures in the first half of the year.
February 2019:
JPMorgan launches its own digital currency, JPM Coin, for internal use. QuadrigaCX, a Canadian cryptocurrency exchange, announces that it has lost access to its cold wallets after the death of its founder, resulting in the loss of millions of dollars worth of customers’ funds.
March 2019:
The total market cap of all cryptocurrencies reaches a high of around $830 billion before dropping back down to around $140 billion by the end of the year. The Lightning Network continues to grow, with the number of nodes and channels increasing significantly.
April 2019:
The SEC approves Blockstack's Regulation A+ offering, which is the first SEC-qualified token offering. Binance suffers a hack, resulting in the loss of 7,000 Bitcoin (worth around $40 million at the time).
May 2019:
Facebook announces plans to launch its own cryptocurrency, Libra, which sparks both excitement and regulatory scrutiny. Bitcoin SV, a Bitcoin Cash fork led by Craig Wright, delists from major exchanges after a controversial attempt to trademark the Bitcoin name.
June 2019:
Bitfinex and Tether are accused of using Tether’s USDT stablecoin to manipulate the price of Bitcoin. The SEC delays its decision on several Bitcoin ETF proposals again.
July 2019:
The G7 countries express concerns about Libra and call for increased regulation of cryptocurrencies. The total market cap of all cryptocurrencies reaches a high of around $350 billion before dropping back down to around $200 billion by the end of the year.
August 2019:
The Bakkt futures exchange, backed by Intercontinental Exchange (ICE), is approved by the CFTC and launches in September. The SEC approves a Bitcoin ETF from VanEck/SolidX, but later withdraws its approval.
September 2019:
The Chinese government announces plans to launch its own digital currency, which is expected to be rolled out in the coming years. The CFTC charges BitMEX, a popular cryptocurrency derivatives exchange, with illegally operating in the US.
October 2019:
PayPal withdraws from the Libra Association, citing concerns about regulatory scrutiny. The SEC approves a Bitcoin ETF from Bitwise, but later withdraws its approval.
November 2019:
The People's Bank of China announces that it has completed the development of its digital currency and is ready to launch it. The total market cap of all cryptocurrencies reaches a high of around $310 billion before dropping back down to around $200 billion by the end of the year.
December 2019:
Telegram's TON blockchain project is halted by the SEC after the company raises $1.7 billion in an unregistered ICO. The total market cap of all cryptocurrencies drops below $200 billion again. Overall, 2019 was a year of both progress and setbacks for the cryptocurrency industry. While the development of new products and services continued, regulatory scrutiny and enforcement also increased, leading to some high-profile legal battles and delays in the approval of new financial products. The launch of Facebook's Libra project also sparked a global debate about the future of digital currencies and their role in the global financial system.
January 2020:
The price of Bitcoin reaches a high of around $10,400 before dropping to around $7,500 by the end of the month. The Ethereum network sees a surge in activity, with the number of daily active addresses reaching a new all-time high.
February 2020:
The total market cap of all cryptocurrencies reaches a high of around $305 billion before dropping to around $140 billion by the end of March due to the COVID-19 pandemic. The CFTC charges BitMEX and its founders with operating an unregistered trading platform and violating anti-money laundering laws.
March 2020:
The Bitcoin halving event occurs, reducing the block reward to 6.25 BTC per block. The COVID-19 pandemic leads to a global economic downturn, with many countries experiencing significant market volatility.
April 2020:
Bitcoin's hash rate drops significantly as miners shut down their operations due to low profitability and the COVID-19 pandemic. China's central bank completes the development of its digital currency and begins testing it in several cities.
May 2020:
The price of Bitcoin starts to recover, reaching around $10,000 by the end of the month. BlockFi suffers a data breach, resulting in the exposure of client data.
June 2020:
Grayscale Investments announces that its assets under management (AUM) have surpassed $4 billion, with most of the funds invested in Bitcoin. Chainalysis launches a service to help law enforcement agencies track and investigate cryptocurrency-related crimes.
July 2020:
The OCC allows US banks to offer cryptocurrency custody services to their clients. The total market cap of all cryptocurrencies reaches a high of around $360 billion before dropping to around $200 billion by the end of the year.
August 2020:
MicroStrategy, a publicly-traded company, announces that it has purchased 21,454 BTC as a reserve asset. The price of Ethereum reaches a high of around $480, its highest level since early 2018.
September 2020:
The CFTC charges BitMEX with violating anti-money laundering laws and operating an unregistered trading platform. Uniswap, a decentralised exchange (DEX) built on Ethereum, launches its token and becomes one of the most popular DEXs in the space.
October 2020:
PayPal announces that it will allow its users to buy, hold, and sell cryptocurrencies on its platform. The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $12 billion.
November 2020:
Bitcoin's price reaches a new all-time high of around $19,000 before dropping back down to around $10,000 by the end of the year. The OCC allows US banks to use stablecoins for payment activities.
December 2020:
The SEC charges Ripple and its executives with conducting an unregistered securities offering through the sale of XRP. The total market cap of all cryptocurrencies reaches a high of around $760 billion before dropping to around $950 billion by the end of the year. Overall, 2020 was a year of significant growth and adoption for the cryptocurrency industry, as institutional investors and mainstream companies showed increased interest in Bitcoin and other digital assets. However, regulatory scrutiny and enforcement also increased, with several high-profile legal cases and regulatory actions taking place. The DeFi sector also saw significant growth and innovation, with new protocols and products emerging throughout the year.
January 2021:
The price of Bitcoin reaches a new all-time high of around $41,000 before dropping to around $33,000 by the end of the month. The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $26 billion.
February 2021:
Tesla announces that it has purchased $1.5 billion worth of Bitcoin as a reserve asset. The Ethereum network sees a surge in activity, with the number of daily active addresses reaching a new all-time high.
March 2021:
The total market cap of all cryptocurrencies reaches a high of around $1.9 trillion before dropping to around $1.3 trillion by the end of the month. The Bitcoin mining difficulty reaches a new all-time high.
April 2021:
Coinbase becomes a publicly-traded company, reaching a market capitalization of around $85 billion on its first day of trading. The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $87 billion.
May 2021:
The price of Ethereum reaches a new all-time high of around $4,300 before dropping to around $2,500 by the end of the month. Elon Musk announces that Tesla will no longer accept Bitcoin as payment due to concerns about its environmental impact.
June 2021:
El Salvador becomes the first country to adopt Bitcoin as legal tender.
The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $90 billion.July 2021:
The Ethereum network undergoes the London hard fork, which includes the implementation of the EIP-1559 fee structure. Binance faces increased regulatory scrutiny and enforcement actions in several countries.
August 2021:
The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $157 billion. El Salvador purchases 400 Bitcoin ahead of the launch of its Bitcoin legal tender law.
September 2021:
The SEC delays its decision on approving a Bitcoin ETF proposed by VanEck. China announces a crackdown on cryptocurrency trading and mining, leading to a significant drop in the price of Bitcoin and other cryptocurrencies.
October 2021:
The total market cap of all cryptocurrencies reaches a new all-time high of around $2.7 trillion. The SEC approves a Bitcoin futures ETF proposed by ProShares.
November 2021:
The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $240 billion. The US government auctions off 4,000 Bitcoin seized in a criminal case.
December 2021:
The price of Bitcoin reaches a new all-time high of around $69,000 before dropping to around $45,000 by the end of the month. The total value locked (TVL) in decentralised finance (DeFi) protocols reaches a high of around $190 billion. Overall, 2021 was a year of significant growth and adoption for the cryptocurrency industry, with increasing institutional adoption and mainstream acceptance. However, the industry also faced increased regulatory scrutiny and enforcement, as well as concerns over its environmental impact. The DeFi sector continued to grow and innovate, but also faced challenges such as regulatory uncertainty and security issues.
This ends: A short history of cryptocurrency - Timeline of bitcoin and altcoin events from 2010 onwards. This page will be further updated in due course.