When was Bitcoin official and how has its value gone up and down over that time?
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Executive summary
Bitcoin’s network began with the Genesis block mined on January 3, 2009 — the conventional “launch” date cited in multiple timelines [1] [2]. Since then its dollar price moved from effectively $0 in 2009 to fractions of a dollar in 2010–2011, then through repeated boom-and-bust cycles including six‑figure all‑time highs in 2025 (peaks ~US$126k on Oct. 6, 2025) and sharp drawdowns that erased 25–30% or more in weeks [3] [4] [5].
1. Genesis and the moment Bitcoin “went live”
The technical starting point most sources give is the mining of Bitcoin’s Genesis block by Satoshi Nakamoto on January 3, 2009 — commonly treated as the official launch of the network and the public release of the software in early 2009 [1] [2]. Early activity was tiny: a handful of miners and experiments such as the first transaction from Satoshi to Hal Finney appear in timelines of the period [6].
2. From zero to pennies: the first market prices
Bitcoin’s market price was effectively $0 at introduction in 2009; early exchange records show prices measured in fractions of a cent to a few tenths of a dollar by late 2009–2010, with one dataset establishing a market rate in October 2009 and other records noting values under $0.40 through 2010 [3] [7] [8]. The first notable step above “almost nothing” occurred in 2010 when prices rose from ~$0.10 to ~$0.15 and reached roughly $0.30 by year‑end [3].
3. The pattern that defined Bitcoin’s value: boom, bust, repeat
Over its history Bitcoin has shown repeated, sharp cycles: single‑digit cents to dollars in 2011, dramatic rallies in 2013, a major collapse in 2018, a recovery into 2020–21, the big 2021 run, the 2022 crash and subsequent recovery into the 2024–25 bull market. Analysts and retrospectives emphasize volatility and recurring sharp pullbacks after big rallies; the pattern of rapid gains followed by large corrections is a throughline in price histories [3] [8].
4. Milestones that moved price and perception
Institutional entry and tradable products repeatedly shifted perceptions and liquidity. The launch of CME cash‑settled Bitcoin futures in December 2017 and, more recently, the wave of U.S. spot Bitcoin ETFs in January 2024 are singled out as major inflection points that increased investor access and capital flows [9]. Those structural events helped fuel price appreciation in later cycles, according to market reporting [9].
5. The 2024–2025 surge and volatility that followed
Multiple sources report that Bitcoin hit new all‑time highs in 2025 — one site lists an ATH of roughly US$126,198 on October 6, 2025, before a >30% drop in November to lows near US$80,660 on November 21 as markets turned risk‑off [4]. Exchange and data providers place recent mid‑Dec 2024–Dec 2025 spot prices in the roughly US$90k–$126k range with daily moves of several percent common [5] [10] [11].
6. Why prices swing: supply rules, halvings and liquidity
Bitcoin’s supply schedule — fixed cap of 21 million and block‑reward “halvings” — is repeatedly cited as a core structural price driver because each halving reduces new supply inflation (50 → 25 → 12.5 → 6.25 → 3.125 BTC per block across the protocol’s history) and historically precedes strong bull runs [12]. At the same time, overall market liquidity remains small versus global finance, which amplifies price moves [5].
7. How to read the long run and the reporting gaps
Available sources portray a long‑term increase in nominal price from effectively zero to five‑ and six‑figure levels by 2025, punctuated by steep interim losses [3] [4]. Sources differ in precise daily highs/lows and in emphasis: some focus on technical timelines and exchange records [7], others on macro adoption and institutional flows [9]. Specific intraday price claims, exact peak timestamps and attribution of any single cause to price moves are treated variably across outlets; exact causal links require more targeted market‑microstructure analysis not present in the cited reporting (available sources do not mention granular order‑book causation).
8. What this history implies for readers
Bitcoin’s record is a transparent experiment in scarcity plus speculative demand: its launch date is uncontested in mainstream timelines (Jan. 3, 2009) and its price history is characterized by extreme volatility and episodic institutional adoption driving larger moves [1] [3] [12]. Investors should weigh episodes cited in reporting — rapid rally phases and rapid selloffs — and note that different sources highlight different drivers and numbers [4] [9].
Limitations: this account relies solely on the provided sources; exact minute‑by‑minute prices, internal trader motives and unreported exchange specifics are not covered in these items (available sources do not mention those details).