From Pennies to Power: Bitcoin’s $100K Story

2009–2012: The Genesis Era

Back in 2009, Bitcoin quietly stepped into the world with the mining of its very first block, the Genesis Block, by its mysterious creator, Satoshi Nakamoto. At the time, no one could’ve guessed how this experiment in digital money would spark a financial revolution.

Then came 2010 and the infamous Bitcoin Pizza Day. Laszlo Hanyecz made history—and probably set the record for the most expensive pizza ever—when he traded 10,000 BTC for two pizzas. Yep, two pizzas. That’s over $1 billion at today’s prices! It was the first time Bitcoin was used as real money, even if the world wasn’t ready to take it seriously just yet.

Most people back then thought Bitcoin was a joke. Bitcoin starting price was literally $0, and skeptics threw around a lot of "FUD"—fear, uncertainty, and doubt. Could it even work? Was it safe? The doubts were endless.

But then, something game-changing happened in 2012: the first Bitcoin halving. This meant miners’ rewards dropped from 50 BTC to 25 BTC per block. With fewer Bitcoin entering circulation, its scarcity started to show. By the end of 2012, Bitcoin was worth around $13.50—a big leap from nothing, but still just a hint of what was to come.

Those early years weren’t glamorous, but they set the stage for everything Bitcoin would become. 

2013–2017: The Public Spotlight

Bitcoin’s journey hit a major turning point in 2013. For the first time, its price broke $100 and then spiked to $1,200 by year-end. It wasn’t just tech enthusiasts talking about Bitcoin anymore—suddenly, the world started to notice. But just as quickly as it rose, the cracks began to show.

In 2014, disaster struck. The Mt. Gox exchange, which handled about 70% of Bitcoin transactions, was hacked. Poof—850,000 BTC vanished. The fallout was massive. Bitcoin’s price crashed to $111, and Bitcoin FUD (fear, uncertainty, and doubt) reached an all-time high. Critics gleefully declared Bitcoin dead. Again.

But Bitcoin wasn’t done. From 2015, it began to claw its way back. The community rallied, and steady adoption helped rebuild trust. Then, in 2016, the second halving dropped block rewards from 25 BTC to 12.5 BTC, reinforcing its scarcity. Prices climbed steadily as demand grew.

By late 2017, Bitcoin hit $20,000. The frenzy was driven by ICO (Initial Coin Offering) mania and a flood of mainstream attention. Everyone wanted a piece of the action. But with fame came challenges: regulators took a closer look, and Bitcoin’s scalability issues made headlines.

Through it all, Bitcoin showed its resilience. The highs and lows of this period shaped its identity as both a disruptive force and a lightning rod for controversy.

2018–2020: The Bear Market and Institutional Interest

After hitting $20,000 in 2017, the Bitcoin price journey faced a harsh reality in 2018. Prices crashed by nearly 80%, ending the year around $4,000. For many investors, this was a wake-up call. The hype around Bitcoin and ICOs (Initial Coin Offerings) had exploded, but when projects failed to deliver, trust eroded quickly.

By mid-2019, Bitcoin started to show signs of life. It climbed back to $13,000 in June, only to settle below $10,000 for most of the year. It wasn’t a full comeback, but it was enough to remind people that Bitcoin wasn’t going away.

Then came 2020—a year that turned the world upside down. As the COVID pandemic reshaped global financial markets, Bitcoin began to shine as a hedge against inflation. With central banks printing money at unprecedented rates, Bitcoin’s fixed supply became a key selling point.

Institutional interest exploded. Companies like MicroStrategy and Tesla added Bitcoin to their balance sheets, signaling mainstream acceptance. By the end of 2020, Bitcoin’s price had soared to $29,000, closing the year with undeniable momentum.

Looking back, these years were a turning point. They proved that Bitcoin wasn’t just surviving—it was evolving. 

2021–2023: Volatility and Maturity

Bitcoin’s price journey took center stage again in early 2021, surging to $64,000. This climb was fueled by the COVID-19 pandemic, the loose monetary policy of central banks, institutional adoption, and widespread fears about inflation. It felt like Bitcoin was finally maturing into a mainstream financial asset.

Then came the middle of the year, and things got rocky. China cracked down hard on Bitcoin mining and trading, wiping out a big chunk of the network’s hash rate. Prices tumbled to $28,000, sparking fresh waves of Bitcoin FUD (fear, uncertainty, and doubt). But Bitcoin, being Bitcoin, bounced back. By November 2021, it hit a new all-time high of $69,000.

The celebration didn’t last long. In 2022, a brutal bear market set in. Economic uncertainty, rising interest rates, and the high-profile collapses of Terra and FTX sent Bitcoin below $20,000, even reaching $15,000 at one point. It was another harsh reminder of crypto’s volatility.

By 2023, the narrative shifted again. With ETF approval filings in the works and renewed institutional interest, Bitcoin found its footing. Prices began recovering, hinting at brighter days ahead.

2024: The $100K Milestone

This year, Bitcoin hit a landmark moment: $100,000. It wasn’t just a price tag—it was a statement. Earlier in the year, Bitcoin ETFs, both spot and options, were approved, finally unlocking institutional capital on a massive scale. MicroStrategy's aggressive Bitcoin acquisition strategy set a precedent, inspiring other firms to follow suit. 

Trump’s recent decision to nominate Paul Atkins to replace Gary Gensler as the Chair of the SEC, helped set the stage for the rise. This move, paired with further expectations of clearer regulations and supportive policies following Trump’s re-election, brought much-needed trust and credibility to the space. 

By December 2024, a combination of factors fueled Bitcoin’s rise. The market saw record inflows from ETFs, with BlackRock’s spot Bitcoin ETF amassing over $50 billion in assets within 228 days. Even El Salvador, the Bitcoin pioneer, enjoyed over 100% unrealized profits from its holdings. Geopolitics played a role, too, with global leaders like Putin calling Bitcoin “unstoppable” and the U.S. Federal Reserve chair recognizing it as “digital gold.”

Halving scarcity, inflation fears, and shifting economic dynamics also added fuel to the fire. Bitcoin, now the 7th largest asset by market cap, cemented its place as more than an investment—it’s a global financial phenomenon.

Who could’ve imagined this in 2009? But here we are, witnessing Bitcoin redefine what’s possible in finance.