PK Press Club – On January 12, 2009, a revolutionary milestone occurred that would forever change the digital finance landscape. Satoshi Nakamoto, the pseudonymous creator(s) of , completed the first peer-to-peer (P2P) transaction on the Bitcoin network.
This historic moment at block 170 saw Satoshi transfer 10 BTC to computer scientist Hal Finney, making him the recipient of the first Bitcoin transaction. As was common in the beginning, the transaction cost 0 BTC.
This first transaction took place three days after the first open source Bitcoin client went online. On January 9, 2009, Satoshi Nakamoto released version 0.1 of the Bitcoin software. Finney was an early adopter of Bitcoin, installing the software and participating in discussions aimed at improving Bitcoin.
On January 10, 2009, Finney made history with the first ever Bitcoin-related tweet: “run Bitcoin.”
The Genesis Block, also known as Block 0, was mined by Satoshi Nakamoto on January 3, 2009. Similar to subsequent Bitcoin blocks, it rewarded 50 BTC, but this can never be spent.
16 years later
Finney received 10 BTC from Satoshi, which would have been worth zero dollars in 2009. Depending on market conditions, the same amount of Bitcoin today can be worth hundreds of thousands of dollars.
Sixteen years later, Bitcoin has become a global financial phenomenon with a current market valuation of approximately $1.84 trillion.
At the time of writing, BTC was down 1.45% over the past 24 hours at $92,560 after hitting an all-time high of $108,268 on December 17.
As for the price of Bitcoin, on a macroeconomic level, this week will give investors a clearer picture of the state of the economy following an explosive jobs report last week that sent actions. The higher-than-expected nonfarm payrolls report raised concerns that the Federal Reserve may act cautiously in the future, casting doubt on further interest rate cuts.
