Today – On January 12, 2009, an important event occurred that would forever change the landscape of digital finance. Satoshi Nakamoto, 's pseudonymous creator(s), made the first peer-to-peer (P2P) transaction on the Bitcoin network.
This historic moment in block 170 saw Satoshi transfer 10 BTC to computer scientist Hal Finney, making him the recipient of the first Bitcoin. As was common in the early days, transactions cost 0 BTC.
This first transaction came three days after the first open source Bitcoin was released online. On January 9, 2009, Satoshi Nakamoto released version 0.1 of the Bitcoin software. Finney was one of the early adopters of Bitcoin, installing software and participating in talks that would improve Bitcoin.
On January 10, 2009, Finney made history with the first Bitcoin-related tweet: “running Bitcoin.”
The Genesis Block, also known as Block 0, was mined by Satoshi Nakamoto on Jan 3, 2009. Like subsequent Bitcoin blocks, it yielded 50 BTC, but this one will never be used.
16 years
Finney received 10 BTC from Satoshi, which would have been worth zero dollars in 2009. Depending on market conditions, the same amount of Bitcoin today can be worth hundreds of thousands of dollars.
Sixteen years later, Bitcoin has evolved into a global financial phenomenon with a current market value of approximately $1.84 billion.
At the time of writing, BTC was down 1.45% in the last 24 hours to $92,560 after setting an all-time high of $108,268 on Dec. 17.
Regarding the price of Bitcoin, on the macroeconomic front, this week will give investors a clear picture of the economic situation following the report of the stormy activities last week that sent shares falling. The stronger-than-expected nonfarm payrolls report raised concerns that the Federal Reserve may proceed with caution going forward, casting doubt on interest rate cuts.