PakGazette – On January 12, 2009, a groundbreaking milestone occurred that would forever change the landscape of digital finance. Satoshi Nakamoto, the pseudonymous creator of, made the first peer-to-peer (P2P) transaction on the Bitcoin network.
At this historic moment in block 170, Satoshi transferred 10 BTC to computer scientist Hal Finney, making him the recipient of the first Bitcoin transaction. As was common in the early days, the transaction cost 0 BTC.
This first transaction occurred three days after the first open source Bitcoin client was launched 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 talks that would improve Bitcoin.
On January 10, 2009, Finney made history with the first Bitcoin-related tweet: “running Bitcoin.”
The Genesis Block, also known as Block 0, was mined by Satoshi Nakamoto on January 3, 2009. Like 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 around $1.84 trillion.
At the time of writing, BTC was down 1.45% in the last 24 hours to $92,560 after setting all-time highs of $108,268 on December 17.
When it comes to Bitcoin price, on the macroeconomic front, this week will give investors a clearer picture of the state of the economy following a spectacular jobs report last week that sent stocks tumbling. The better-than-expected nonfarm payrolls report raised concerns that the Federal Reserve could proceed cautiously going forward, casting doubt on further interest rate cuts.
