By: Nick Chong
Since its birth in 2009, Bitcoin has been on a remarkable run.
The cryptocurrency was at first a currency for the fringe — used by those that wanted to bypass the pitfalls of traditional payment solutions, wanted to make a bet on the future of fintech, or wanted to make a statement against the fiat system, which was then embroiled in the aftermath of 2008’s Great Recession. Now, Bitcoin has entered the mainstream, frequenting the headlines of mainstream media outlets and becoming a part of the world’s vernacular.
Bitcoin’s Humble Origins
It wasn’t an easy journey, however. Back during Bitcoin’s earliest years, it was often ridiculed by cynics who claimed that the project was nothing more than a currency for criminals. What’s more, no one really attributed value to the coins.
But, this changed seemingly for the first time in 2010, when early adopter Laszlo Hanyecz paid 10,000 BTC for some pizza. Many have argued that this is the first time that BTC was assigned an actual dollar value. eToro’s Mati Greenspan has even said that without that one transaction, the industry wouldn’t be where it is today.