Bitcoin (BTC) is the world's first cryptocurrency, designed as a digital payment tool not controlled by any party, including governments or financial institutions. This technology eliminates the need for intermediaries like banks in financial transactions, providing transparency and decentralization to its users.
Introduced to the public in 2008 by an anonymous figure or group known as Satoshi Nakamoto, Bitcoin has grown into the world's largest digital asset. Its popularity has led to the emergence of thousands of other cryptocurrencies, but Bitcoin remains the most dominant.
The Beginning of Bitcoin
In August 2008, the Bitcoin.org domain was registered, marking the beginning of the digital currency revolution. Then, in October 2008, Satoshi Nakamoto published a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" which became the basis of Bitcoin's operation.
Bitcoin was first mined on January 3, 2009, with the creation of the Genesis Block or Block 0. In this block, there is a hidden message that refers to the economic crisis at that time, indicating the main reason Bitcoin was created: as an alternative to the traditional financial system prone to failure.
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Blockchain Technology in Bitcoin
Bitcoin uses blockchain technology as its operational base. Blockchain is a digital ledger containing transaction records in the form of cryptographically linked blocks. This system ensures data security and transparency without the need for intermediaries.
Each block in the Bitcoin blockchain has important elements such as:
- Previous Block Hash – Connects one block to another, creating a secure chain.
- Merkle Root – Summarizes all transactions in a block into a single unique hash.
- Nonce – A number used to verify transactions through the mining process.
The security of the Bitcoin blockchain is guaranteed by the SHA-256 algorithm which makes changes to a block almost impossible without changing the entire network.
Bitcoin Price Over Time
Bitcoin price has undergone very drastic changes since it was first introduced. Here are some important moments in Bitcoin's price journey:
- 2009-2010: Bitcoin was first traded at a price close to zero. In May 2010, the first real-world transaction with Bitcoin occurred when someone bought two pizzas with 10,000 BTC.
- 2011: Bitcoin reached a price of $1 for the first time.
- 2013: The price of Bitcoin passed $1,000, but then experienced a drastic decline due to the Mt. Gox scandal.
- 2017: Bitcoin set a new record by breaking $20,000 before experiencing a major correction.
- 2020-2021: The COVID-19 pandemic triggered a surge in Bitcoin prices reaching around $69,000 in November 2021.
- 2022-2023: Bitcoin experienced a drastic decline due to various global economic pressures and the collapse of several major crypto platforms.
- 2024 to the present: The price of Bitcoin has recovered along with increasing institutional adoption and investor interest. On January 20, 2025, Bitcoin set a new all-time high price of $108,786.
As of now, the price of Bitcoin is approximately $96,178.97, with a market capitalization of $1,906,665,318,269. The future price of Bitcoin is influenced by various factors, including institutional adoption, regulation, and market sentiment.
How to Get Bitcoin
1. Buying Bitcoin
Users can buy Bitcoin through various cryptocurrency exchanges using fiat currencies such as US dollars or rupiah. One platform you can use to buy Bitcoin is Mobee. This platform is registered and monitored by BAPPEBTI and OJK, ensuring its security.
2. Mining Bitcoin
Bitcoin can be obtained through a process called mining, which is the process of verifying transactions and adding them to the blockchain. Mining is done by solving complex mathematical problems using special devices such as ASICs (Application-Specific Integrated Circuits). Currently, individual mining is becoming difficult due to the increasing computing power required.
Uses of Bitcoin
Initially, Bitcoin was designed as a digital payment tool, but over time, its use has expanded to various sectors, including:
- As a Payment Tool – Many stores and service providers have accepted Bitcoin as a payment method.
- Investment and Speculation – The ever-fluctuating price of Bitcoin makes it attractive to investors and traders.
- International Money Transfer – Bitcoin enables cross-border fund transfers at a lower cost than traditional banking systems.
Risks in Investing in Bitcoin
Despite offering many advantages, investing in Bitcoin also has risks that need to be considered, such as:
- Price Volatility – Bitcoin prices can rise and fall drastically in a short time.
- Security and Hacking Risks – Crypto exchanges are often the target of cyberattacks.
- Uncertain Regulation – Many countries are still looking for the best way to regulate Bitcoin.
Read also: Who Owns Bitcoin the Most in 2025? Here’s the List!
The Future of Bitcoin
Bitcoin continues to evolve with various innovations, including the Lightning Network which enables faster and cheaper transactions. In addition, the adoption of Bitcoin by large institutions and clearer regulations can further strengthen its position as a major digital asset.
With rapid growth, Bitcoin has the potential to become a major pillar in the financial system of the future. However, investors need to understand the risks and benefits before engaging in the world of Bitcoin.
Sources:
Bitcoin. Accessed in 2025. CoinGecko.
What Is Bitcoin? A Guide to the Original Cryptocurrency. Accessed in 2025. Be(In)Crypto.
What Is Bitcoin? How to Buy, Mine, and Use It. Accessed in 2025. Investopedia.
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