On January 3, 2009, the historic message “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” was embedded in the first-ever bitcoin transaction block, marking the 15th anniversary of this significant event in the crypto industry.
This “genesis” block also included a 50 bitcoin (BTC) block subsidy, which is now valued at a staggering $2.1 million at current prices. This block also encapsulated the economic uncertainty of the time when bitcoin was introduced.
Preceding this milestone, Satoshi Nakamoto, the pseudonymous creator of bitcoin, had published the protocol’s white paper months earlier, outlining a revolutionary system for digital currency that did not rely on a central authority. It is worth noting that the white paper’s 15th anniversary was recently observed.
While Nakamoto initially played a vital role in the early development of the protocol, they gradually receded from the public eye by 2010. Since then, the bitcoin network has processed 824,210 blocks, with new blocks generated approximately every ten minutes.
This 15th anniversary comes at a pivotal moment in bitcoin’s history, with prices surpassing $40,000 and the cryptocurrency becoming increasingly integrated into the global financial system. Major institutions like BlackRock and Fidelity have embraced bitcoin, seeking to create exchange-traded products holding BTC. Furthermore, there are indications that the US Securities and Exchange Commission may approve such products, despite recent price fluctuations possibly reflecting lingering uncertainties surrounding this prospect.
