Bitcoin (BTC) traded mostly sideways on Friday as the community marked the 16th anniversary of the Genesis Block, the first block ever mined by the mysterious creator, Satoshi Nakamoto. Notably, this day, also known as “Bitcoin’s Birthday” or “Proof of Keys Day,” highlights over 15 years of Bitcoin’s growth, from its origins as a decentralized financial system to its current prominence in global finance. The Genesis Block, also known as Block 0, was mined on January 3, 2009. Inside the block, Nakamoto included a hidden message referencing a headline from The Times reading, “Chancellor on the brink of the second bailout for banks.” This phrase was a pointed critique of the global banking system, highlighting the financial instability and centralization that Bitcoin was designed to combat. Since then, Bitcoin has grown from a concept in a whitepaper to a major player in global finance. Notably, the Genesis Block contained a reward of 50 BTC coins. As a tribute to Satoshi, people continue to send coins to the Genesis Block address , and to date, it holds a balance of approximately 100 BTC. These coins, however, remain unspendable due to the unique structure of the block. The unspent reward is symbolic of Bitcoin’s immutable and decentralized nature. In terms of supply, Bitcoin operates on a capped model with only 21 million coins ever to be mined. As per Coinmarketcap data, approximately 19.8 million BTC have already been mined, meaning only 1.2 million remain to be discovered. This scarcity continues to drive demand, with many investors viewing Bitcoin as a hedge against inflation and a store of value, similar to precious metals like gold. That said, to market the day, major crypto exchanges and key figures in the ecosystem shared their thoughts on the occasion. “ Happy Birthday Bitcoin. The Genesis Block laid the foundation for the Bitcoin revolution and financial freedom,” Bitfinex, a leading crypto exchange, tweeted, echoing the sentiments of Binance, Kucoin, and others. Elsewhere, popular Bitcoin maximalist and host of the “Bitcoin Knowledge” Podcast Trace Mayer took the opportunity to encourage Bitcoiners to celebrate the 16th birthday of Bitcoin by moving their holdings off exchanges and into self-custody. On the other hand, Bitcoin investor Chou Juthica, who has 16,000 followers on X, took a moment to reflect on the anniversary, noting that while Bitcoin has seen increased adoption, legitimacy, and institutional support since the Genesis block, it has also become “ less decentralized, more easily trackable, and more difficult to run a node. ” She ended her message by expressing hope for the future stating , “ Here’s to the next 16 years—may we bring back the magic and excitement that Bitcoin once sparked in our hearts and minds.” With strong enthusiasm surrounding its anniversary, Bitcoin’s future looks promising. As institutional adoption grows and more investors view it as an alternative asset, its influence on the global economy and potential for higher prices strengthens. Bitcoin was trading at $99,268 at press time, marking a modest 1.42% increase in the past 24 hours.
