Bitcoin’s nine-page whitepaper marks its 18th anniversary today, celebrating a milestone for a network that began with a simple idea, allowing people to send money without banks or financial institutions. Eighteen years after Bitcoin has grown into a $1.55 trillion asset, attracting billions in investment from Wall Street, major companies, and governments.
On October 31, 2008, a person using the name Satoshi Nakamoto shared a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System on a cryptography mailing list. It outlined a way to transfer money online directly between users, without depending on a bank to approve or record each payment.
The proposal introduced a public transaction record, now known as the blockchain, alongside a system called proof of work. Miners use computing power to verify transactions and add new blocks, making it difficult to alter the network’s history.
Bitcoin officially launched on January 3, 2009, when Satoshi mined the first block. Its software also introduced the supply limit of 21 million BTC, a rule that was not stated directly in the original whitepaper.
Bitcoin’s supply has followed a fixed release schedule since launch. The mining reward started at 50 BTC per block and is cut in half every 210,000 blocks, roughly once every four years.
Following the April 2024 halving, miners now receive 3.125 BTC for each new block. The network reached another major milestone on March 9, 2026, when the 20 millionth bitcoin was mined.
With more than 95% of its maximum supply already in circulation, the remaining coins will enter the market gradually over the next century. Bitcoin’s full supply is expected to be mined around 2140.
Bitcoin’s growth has also changed who can invest in it. The launch of U.S. spot Bitcoin ETFs in January 2024 opened a new route for investors to gain exposure through traditional brokerage accounts.
They no longer need to buy BTC directly, use crypto exchanges, or manage private keys.
The latest fund figures show how much demand these products have attracted. As of October 31, 2026, U.S. spot Bitcoin ETFs held approximately 1.28 million BTC, equal to around 6.36% of Bitcoin’s circulating supply. Their combined net assets reached $102.97 billion, while cumulative net inflows exceeded $57 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) led the group with approximately $66.312 billion in assets, making it the largest fund among U.S. spot Bitcoin ETFs.
Companies have created another route for traditional capital to enter Bitcoin. Instead of treating BTC only as an investment, some businesses now hold it as part of their corporate treasury.
Strategy is the largest corporate Bitcoin holder, with 848,517 BTC as of October 31, 2026. Its holdings represent more than 4% of Bitcoin’s maximum supply. The company has built this position through repeated purchases, using capital raises and other funding sources.
The U.S. government has also taken steps to hold Bitcoin.
In March 2025, an executive order established a Strategic Bitcoin Reserve, initially funded with BTC seized through criminal and civil proceedings.
Bitcoin’s price history shows how far the asset has travelled since its early days. Its first published dollar exchange rate appeared in October 2009 at approximately $0.000764. It later crossed $1,000 in 2013 and approached $20,000 in December 2017.
After reaching around $69,000 in November 2021, Bitcoin set a new record of approximately $73,798 in March 2024. The rally continued into 2025, taking BTC to an intraday high of $126,223 on October 6.
However, the market later reversed. Bitcoin fell to approximately $58,586 on June 30, 2026, before recovering to around $77,200 by October 31.
Today, Bitcoin serves several roles, from a corporate treasury asset to an investment held through regulated funds.
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