Bitcoin hit news headlines this week as the price of one unit of the cryptocurrency passed $11,500 for the first time. Although it’s often referred to as new, Bitcoin has existed since 2009 and the technology it is built on has roots going back even further.
In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer to the tune of £36.7 million. Those who don’t learn from history are doomed to repeat its mistakes – so here is a brief history of Bitcoin and cryptocurrency. 1998 – 2009 The pre-Bitcoin years – Although Bitcoin was the first established cryptocurrency, there had been previous attempts at creating online currencies with ledgers secured by encryption.
Author: Bernard Marr