If you know about Bitcoin today, you might be surprised to learn that there was a time when its price was just a few paise. Today, while one Bitcoin is worth lakhs (hundreds of thousands) of rupees, it had such a humble beginning that hardly anyone could have imagined it would one day take the world by storm. Let’s take a look at this fascinating journey.
How Did Bitcoin Begin?
Bitcoin was launched in 2009 by a person (or group) under the name Satoshi Nakamoto. To this day, no one knows who Satoshi Nakamoto really is. The purpose behind launching Bitcoin was to create a digital payment system that would work independently, without the control of any bank or government.
Bitcoin was built using blockchain technology, which is completely decentralized, meaning no single person or entity has control over it.
What Was Bitcoin’s Initial Price?
When Bitcoin was first launched, it had no fixed price. In 2009, when it was mined for the first time, its value was practically zero. At that time, people considered it an experiment. There was no formal market to buy or sell Bitcoin.
The first real-world transaction using Bitcoin happened in May 2010, when a programmer named Laszlo Hanyecz bought two pizzas for 10,000 Bitcoins. At that time, the value of 10,000 BTC was just $40 (around ₹3,000). This was the first time Bitcoin had any real-world value.
When Was Bitcoin’s First Price Set?
On October 5, 2009, a website called NewLibertyStandard set Bitcoin's first recorded price. At that time, 1 US dollar could buy 1,309.03 Bitcoins, meaning 1 BTC was worth just $0.00076, less than even a single paisa. It's hard to believe this today, as one Bitcoin now sells for lakhs of rupees.
Bitcoin Price History (Approximate - in INR)
|
Date |
Bitcoin
Price (INR) |
|
May 22,
2010 |
₹41
(10,000 BTC for 2 pizzas) |
|
February
2011 |
₹45 |
|
June
2011 |
₹678 |
|
November
2013 |
₹45,000 |
|
January
2015 |
₹12,000 |
|
January
2017 |
₹70,000 |
|
December
2017 |
₹13,00,000 |
|
December
2018 |
₹2,50,000 |
|
December
2020 |
₹21,00,000 |
|
April
2021 |
₹47,00,000 |
|
November
2021 |
₹52,00,000
(All-Time High) |
|
June
2022 |
₹16,00,000 |
|
January
2023 |
₹18,00,000 |
|
December
2023 |
₹31,00,000 |
|
March
2024 |
₹48,00,000 |
|
November
22, 2024 |
₹83,00,000 |
|
January
30, 2025 |
₹91,00,000 |
Note: These figures are approximate and may vary slightly across different exchanges. Bitcoin prices are highly volatile.
Gradual Price Growth
Over time, people's interest in Bitcoin started to grow, and so did its price. By 2011, Bitcoin reached the $1 mark, which was a major milestone. People began to see Bitcoin not just as a currency, but as the currency of the future.
The First Major Surge in 2013
In 2013, Bitcoin’s price crossed $1,000 (around ₹80,000) for the first time. By then, several major investors had started taking interest in it and were treating it as an alternative investment asset. However, Bitcoin also experienced ups and downs during this period.
Record-Breaking Rise in 2017
The year 2017 was when Bitcoin truly caught the world's attention. That year, its price reached nearly $20,000 (approx. ₹15 lakh). Following this, Bitcoin became a hot topic globally, and more and more people started adopting it.
Bitcoin’s Price Today and Its Significance
Today, Bitcoin is worth millions and has become the most notable example of digital assets. Although its price is constantly fluctuating, it is still often referred to as “digital gold.” In today’s times, Bitcoin is not just a currency—it has become a powerful investment tool.
The Future of Bitcoin
Although Bitcoin started as a simple experiment, it has now sparked a revolution across the globe. In several countries, it is gaining legal recognition, and people are considering it a reliable alternative for both investment and payments.
While only time will tell how bright Bitcoin’s future will be, one thing is certain: its origin story is as fascinating and thrilling as its current journey.
