Short Stories of Crypto: A Look Back at Key Moments in the History of Cryptocurrency

In 2008, a person or group using the pseudonym "Satoshi Nakamoto" published a paper outlining a new digital currency called Bitcoin, which introduced the concept of blockchain technology and decentralized transactions.

In 2009, the first-ever Bitcoin transaction occurred when a programmer named Laszlo Hanyecz purchased two pizzas for 10,000 Bitcoin, establishing the value and utility of the digital currency.

In 2010, the first Bitcoin exchange, called Mt. Gox, was launched, providing a platform for people to buy and sell Bitcoin and other cryptocurrencies.

In 2011, a digital black market called Silk Road was launched, becoming one of the most notorious online marketplaces for illegal drugs and other illicit goods and services.

In 2012, the major hack of the Mt. Gox exchange occurred, resulting in the theft of around 850,000 Bitcoin, worth at the time over $450 million.

In 2013, the price of Bitcoin surged to over $1,000 for the first time, as the cryptocurrency gained mainstream attention and interest.

In 2014, the Mt. Gox exchange filed for bankruptcy, further highlighting the need for improved security and regulation in the cryptocurrency industry.

In 2015, the Ethereum blockchain platform was launched, introducing smart contract technology and paving the way for the development of decentralized applications (dapps).

In 2016, a hack of the decentralized autonomous organization (DAO) on the Ethereum blockchain resulted in the theft of millions of dollars worth of Ether, leading to a controversial hard fork of the Ethereum network.

In 2017, the price of Bitcoin reached an all-time high of nearly $20,000, before experiencing a sharp correction and volatility.

In 2018, the cryptocurrency market experienced a significant bear market, with prices dropping by more than 80% from their peak.

In 2019, the Facebook-led Libra cryptocurrency project was announced, sparking controversy and regulatory scrutiny.

In 2020, the COVID-19 pandemic and global economic uncertainty led to a surge in interest and investment in Bitcoin and other cryptocurrencies, as investors looked for alternative assets and safe havens.

In 2021, the price of Bitcoin reached a new all-time high of over $65,000, as institutional investors and mainstream financial institutions began to embrace and invest in cryptocurrencies.

In 2022, we saw the bear market flourishing with Bitcoin experiencing a significant plunge hovering around $15,000, marking a 75% decline from its highest point. Numerous exchanges and DeFi offerings went bankrupt.

What’s in store for 2023?