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The year 2009 was a groundbreaking year for the ethos of cryptocurrency, notably Bitcoin. As the first decentralized digital currency, Bitcoin was developed in 2009 by an anonymous individual or group known as Satoshi Nakamoto. Despite its obscurity at the time, the birth of Bitcoin in 2009 would come to revolutionize the world of finance over the last decade.
In its first full year of existence, Bitcoin’s price began the year at $0.008 before peaking at only $0.25 in June. After dipping slightly to end 2009, Bitcoin closed the year trading at $0.23. This represented a staggering increase from the price of $0.008 at the beginning of the year, nearly 3000% gains in nine months for investors who entered early.
Although it was still relatively unknown to the public at the time, Bitcoin’s ability to increase financial access and transparency nonetheless caught the attention of entrepreneurs, developers, and governments across the world. What’s more, its user base grew exponentially in 2009, an indication of Bitcoin’s long-term potential.
Despite its early success, it wasn’t until 2013 when the world really started to take notice of Bitcoin. After hitting a then-high of around $1,150, Bitcoin began to garner mainstream attention, making headlines and inspiring the development of hundreds of other digital currencies. After a few years of sporadic volatility and price declines, Bitcoin’s bullish rally in 2017 and 2018 would propel it to become a global financial hotspot.
In retrospect, 2009 is a critical year both in terms of Bitcoin’s rise in price and its meteoric rise in popularity. Although relatively unknown at the time, Bitcoin’s success in 2009 would make it one of the most popular and widely-traded digital currencies in the world today.