What Was the First Cryptocurrency? History, Creation Date, and the First Ever Crypto Transaction

HKAN | June 18

The world’s first cryptocurrency is Bitcoin (BTC) — a revolutionary form of digital money that changed finance forever. Created in the aftermath of the 2008 financial crisis, Bitcoin introduced the idea of decentralized, peer-to-peer money without banks or governments.

 

 

When Was Bitcoin Created? 

 

Bitcoin was created on: January 3, 2009 

 

Inventor: A mysterious person (or group) known as Satoshi Nakamoto 

 

The first block: Called the Genesis Block or Block 0 

 

Reward for Block 0: 50 BTC

 

 

The Genesis Block contained a message: 

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

This quote embedded in the blockchain symbolized Bitcoin’s purpose to offer an alternative to the traditional banking system.

 

When Was the First Bitcoin Transaction? 

 

Date of first transaction: January 12, 2009 

 

Sender: Satoshi Nakamoto 

 

Receiver: Hal Finney (a cryptographer and early Bitcoin supporter) 

 

Amount sent: 10 BTC

 

 

This was the first recorded peer-to-peer cryptocurrency transfer, and it set the foundation for digital value exchange.

 

 

What Was the First Bitcoin Purchase? 

 

The first real-world purchase using cryptocurrency is one of the most iconic stories in Bitcoin history. 

 

Date: May 22, 2010 

 

Buyer: Laszlo Hanyecz 

 

Item bought: 2 Papa John’s pizzas 

 

Price paid: 10,000 BTC 

 

Value then: ~$41 

 

Value now (2025): Over $1 billion

 

 

This historic event is now celebrated as Bitcoin Pizza Day, a symbol of early adoption and the evolution of BTC from a tech experiment to a global asset.

 

 

When Was Bitcoin First Sold? 

 

The first major Bitcoin exchange, BitcoinMarket.com, launched on March 17, 2010. 

 

First recorded BTC price: $0.003 

 

This allowed users to buy and sell Bitcoin for fiat currency for the first time.

 

 

From a few cents in 2010 to over $100,000 in 2025, Bitcoin’s rise remains one of the most dramatic financial stories of all time.

 

 

Why Is Bitcoin Important? 

 

Bitcoin introduced key innovations: 

 

Blockchain technology 

 

Proof-of-work consensus 

 

Limited supply (21 million BTC max) 

 

Decentralized control with no central authority

 

 

It became the foundation for the entire cryptocurrency industry, inspiring thousands of altcoins and a trillion-dollar ecosystem.

 

 

Final Thoughts 

 

First cryptocurrency: Bitcoin 

 

Creation date: January 3, 2009 

 

First transaction: January 12, 2009 (Satoshi → Hal Finney) 

 

First purchase: May 22, 2010 (10,000 BTC for 2 pizzas)

 

Bitcoin’s origin story is not only fascinating but historic. From a whitepaper to a global financial revolution, it continues to lead the digital currency era.