Bitcoin, the pioneering cryptocurrency, was officially launched on January 3, 2009. This launch marked the release of its software and the creation of the first block on the Bitcoin blockchain, known as the "genesis block" or "block 0." The reward for mining this first block was 50 bitcoins. At its inception, Bitcoin was essentially worthless in terms of USD or any other fiat currency. The earliest known transaction valuing Bitcoin in real-world terms occurred on October 5, 2009, when a Norwegian developer, Haakon Overli, sold 5,050 BTC to a buyer for $5,050. This put the initial value of Bitcoin at approximately $1 per BTC. However, it took a few more years for Bitcoin to gain significant value and recognition. The price of Bitcoin remained relatively stable and low during its early years, gradually increasing as it began to attract attention from early adopters and investors. It wasn’t until late 2012 and 2013 that Bitcoin began to see more substantial price appreciation, driven by increased media coverage, greater adoption, and speculation within the cryptocurrency markets. The first major price milestone occurred in November 2013, when Bitcoin's value surpassed $1,000 for the first time. This early growth laid the groundwork for Bitcoin's eventual rise as a major financial asset and the leading cryptocurrency in the digital space.
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