Bitcoin’s nine-page whitepaper was published on October 31, 2008, by a person using the name Satoshi Nakamoto. The paper described a peer-to-peer cash system that could move money online without a bank approving or recording each payment. That idea now sits behind an asset valued at about $1.55 trillion.
The Original Idea
The design included a public transaction record, later called the blockchain, and proof of work. Miners spend computing power to verify transfers and add blocks. Changing old records becomes hard because it would require redoing work across the chain. Bitcoin launched on January 3, 2009, when Satoshi mined the first block. The software also set a 21 million BTC limit, though that cap was not written directly in the original paper.
Supply Schedule
The supply has followed a fixed path. Miners started with 50 BTC per block, and the reward is cut in half every 210,000 blocks, or roughly four years. After the April 2024 halving, the reward fell to 3.125 BTC. On March 9, 2026, the network mined the 20 millionth bitcoin. More than 95% of the maximum supply is now in circulation. The rest will arrive slowly, with the final coins expected around 2140.
New Investors
Perhaps the clearest change is who can buy it. U.S. spot Bitcoin ETFs launched in January 2024, letting investors gain exposure through brokerage accounts without buying BTC directly or managing private keys. As of October 31, 2026, those funds held about 1.28 million BTC, or around 6.36% of circulating supply. Their net assets reached $102.97 billion, and cumulative net inflows passed $57 billion. BlackRock’s iShares Bitcoin Trust held about $66.312 billion in assets.
Companies added another route. Strategy held 848,517 BTC as of October 31, 2026, more than 4% of the maximum supply. The U.S. government also created a Strategic Bitcoin Reserve in March 2025, starting with coins seized in criminal and civil cases.
Price History
The price record shows the shift. Bitcoin’s first published dollar rate was about $0.000764 in October 2009. It crossed $1,000 in 2013 and neared $20,000 in December 2017. It reached around $69,000 in November 2021, then set a record near $73,798 in March 2024. In October 2025, it hit an intraday high of $126,223. The market reversed later, falling to about $58,586 on June 30, 2026, before recovering to roughly $77,200 by October 31. Today, Bitcoin is held as a treasury asset, a fund investment, and a speculative bet.
