The Most Memorable Moments in Crypto History
Cryptocurrencies have revolutionised the way we think about money and financial transactions. Since the inception of Bitcoin in 2009, the world of cryptocurrencies has witnessed tremendous growth, innovation, and even controversy.
The decentralised nature of cryptocurrencies and the blockchain technology that powers them have created a new era of financial freedom and transparency. Along the way, there have been some unforgettable moments that have shaped the cryptocurrency landscape.
In this blog post, we will explore some of the most memorable moments in crypto history that have left a lasting impact on the industry and its participants. From the early days of Bitcoin to the recent explosion of decentralized finance (DeFi), we will take a trip down memory lane and revisit the key events that have shaped the cryptocurrency ecosystem.
Bitcoin’s Launch
What better place to start than where it all began? The crypto revolution began in October 2008 when Satoshi Nakamoto released the bitcoin whitepaper, ‘Bitcoin: A Peer-to-Peer Electronic Cash System.’ On January 3, 2009, Nakamoto released the genesis block with an initial reward (which can never be used) of 50 BTC. Days later, the first ever bitcoin transaction was made when Nakamoto sent 10 BTC to Hal Finney, a computer programmer.
The Pizza Purchase
You might have heard about this one before. Undoubtedly one of the most famous crypto moments in history, the first retail purchase using bitcoin was made in May 2010 by Laszlo Hanecz, who bought two pizzas with 10,000 bitcoins (then worth about $40).
Bitcoin to the Moon
Bitcoin’s value increased by 10,000% in 2013. While Bitcoin slowly built momentum over the first four years of its existence, its price surged from $125 in September 2013 to over $1,100 by the end of November 2013.
‘I Am Hodling’
Did you know that one of the most popular crypto slang, HODL, actually originated from a simple typo back in 2013? Shortly after the price of bitcoin crossed $1,000, an excited crypto message board user ‘GameKyuubi’ made a post titled I AM HODLING instead of I AM HOLDING. Thanks to the tons of HODL memes that followed, the word quickly became popular and is used till today to mean ‘Hold on for dear life.’
READ NOW: Popular Crypto Slangs You Should Know
Microsoft Accepts Bitcoin Payment
In December 2014, the world’s largest computer retailer, Microsoft, in association with BitPay (a Bitcoin merchant account processor), began to accept Bitcoin payments on their website. According to the then corporate vice-president of Universal Store at Microsoft, Eric Lockard: “The use of digital currencies such as Bitcoin, while not yet mainstream, is growing beyond the early enthusiasts. We expect this growth to continue, and allowing people to use bitcoin to purchase our products and services now allows us to be at the front edge of that trend.”
Beeple’s Monumental NFT Sale
Ever wondered why NFTs gained so much hype in 2020? In March 2020, Mike Winkelman (aka Beeple) sold his work titled “Every day: The First 5000 Days” as an NFT for a sale price of $69.3 million, which set a record at the time. While this record has since been broken in 2021, its impact cannot be undermined as it led to resulted in unprecedented global interest in NFTs
Bitcoin Reaches All Time High
Bitcoin once again shocked the world in 2021. In November 2021, Bitcoin reached an all-time of over $65,000. This further increased the awareness about crypto, attracting more investors.
CONVERT YOUR CRYPTO TO CASH WITH AFRICA’S MOST RELIABLE OFF-RAMP PLATFORM
Vent Africa is a reputable off-ramp platform that makes crypto-to-cash transactions more effortless than ever. With the best rates at no fees and your security guaranteed, there’s no better choice for transacting crypto smoothly than Vent Africa.
Read more: 5 Reasons to Trade with Vent Africa.
