Seven wild moments from its tumultuous history

The price of Bitcoin has broken for the first time and passed the mark of $ 100,000, hitting a new record high.

The value of the world's largest cryptocurrency has been boosted by the hope that US President-elect Donald Trump will implement crypto-friendly policies.

The milestone was reached hours after Trump said he would nominate former Securities and Exchange Commission (SEC) commissioner Paul Atkins to lead the Wall Street regulator.

Mr Atkins is considered more pro-cryptocurrency than the current head of the SEC, Gary Gensler.

The $100,000 milestone prompted celebrations from cryptocurrency fans around the world.

The volatile value of Bitcoin always attracts interest, and its supporters respond with joy to it past the previous price limits – and contempt during its growth.

But this particular sign is eagerly awaited. For weeks charts, memes and predictions circulate on social media about when the price will reach a value that is considered one of the holy grails of the crypto world.

Millions of viewers even tuned into online viewing parties as the price rose to $100k.

The value of one bitcoin is one of the most optimistic measures in the cryptocurrency industry which is now estimated to be worth $3.3tn, according to analysis firm Coin Market Cap.

Trump's election victory last month has been the cause of the recent surge.

The president-elect has vowed to make the US “the crypto capital of the planet” – a remarkable reversal given that as recently as 2021 he was calling Bitcoin a “scam.”

What is also remarkable is how the price of Bitcoin has risen. The $100k total represents a 40% increase on election day in the US and double the price at which it started the year.

But there is more to Bitcoin than confusing changes in its price.

From its mysterious founder to the downing of the so-called Crypto King, it's a tale of many missteps, which has seen the making – and loss – of great fortunes.

So here's the BBC's list of the seven wildest moments – so far – in Bitcoin's tumultuous history.

1. The mysterious creator of Bitcoin

Despite its huge profile, no one knows for sure who invented Bitcoin. Its idea was posted on internet forums in 2008 by someone calling himself Satoshi Nakamoto.

They explain how a peer-to-peer digital currency system can work so that people can send virtual coins over the Internet, as easily as sending an email.

Satoshi built a complex computer system that would process transactions and create new coins using a large network of handpicked volunteers around the world using special software and powerful computers.

But he – or they – never revealed their identity, and the world never fixed that.

In 2014, Japanese-American man Dorian Nakamoto was followed by journalists who thought he was the mysterious creator of Bitcoin, but it turned out to be a false lead caused by some misinterpreted information.

Australian computer scientist Craig Wright claimed he was him in 2016 – but after years of legal battles, a High Court judge concluded he was not Satoshi.

Earlier this year, a Canadian Bitcoin expert named Peter Todd he firmly denied that he was Satoshiwhile in London this month a British man, Stephen Mollah, said – but no one believed him.

2. Making history with pizza

Bitcoin now supports a two trillion dollar cryptocurrency industry – but the first recorded transaction using it was the purchase of a pizza.

On May 22, 2010, Lazlo Hanyecz, donated $41 worth of Bitcoin to a crypto forum in return for two pizzas.

A 19-year-old student is responsible and the day went down in history for fans of the currency as #BitcoinPizza day.

The source of memes for those in the crypto community, it also showed the power of Bitcoin – an internet currency that can literally buy things online.

Criminals must have been watching too, because within a year the first darknet market was launched selling drugs and other illegal goods in exchange for Bitcoin.

The deal looks pretty bad for Lazlo now. If he had held on to those coins they would now be worth hundreds of millions of dollars!

3. Being a legal tender

In September 2021, President Nayib Bukele of El Salvador, in Central America, made Bitcoin legal tender.

Hairdressers, supermarkets and other shops had to legally accept Bitcoin, along with its main currency, the US dollar.

Many Bitcoin enthusiasts and journalists have visited this area, slightly boosting tourism in the country.

Although President Bukele hoped that this move would increase investment in his country and reduce the cost of citizens exchanging money, it was not as popular as he had hoped.

He still hopes that it will take off but for now the US dollar is still king in this country.

Along with the huge amount of public money that President Bukele spent trying to get people to accept Bitcoin he also, controversially, bought more than 6,000 bitcoins in the last few years.

The president has spent at least $120 million buying bitcoins at various prices in hopes of making a cashless profit for his country.

It he started to look good about him in December 2023 when, for the first time, his stash increases in value.

Website created by Dutch software engineer Elias Zerrouq Bitcoin tracking for the world holding and currently estimates that the coins have increased by 98% in value.

4. Kazakhstan's crypto boom and bust

In 2021, Kazakhstan became the center of Bitcoin mining – the process of processing complex calculations that support crypto transactions.

These days it takes warehouses full of the latest computers working all day and all night, but the reward is new bitcoins for those participating companies.

Computer warehouses require a lot of energy – and many businesses moved to Kazakhstan where electricity was abundant due to large coal reserves.

At first, the government welcomed them with open arms as they brought investment.

But too many miners came and put a lot of strain on the power grid, putting the country at risk of blackouts.

Within a year, Kazakhstan's Bitcoin mining industry took off from boom to bust as the government imposes restrictions and increases taxes to curb growth.

Globally, it is estimated that the Bitcoin network uses as much electricity as a small country, raising concerns about its environmental impact.

5. Bitcoins in a landfill

Imagine you have a crypto wallet worth over $100m (£78m) – then to throw away by mistake hard drive that contains login information.

That's what James Howells, from south Wales, says happened to him

The nature of crypto means that finding out isn't as easy as resetting your password. Since there are no banks involved – no customer support helpline.

Unfortunately for him, his local council in Newport refused to let him access the landfill where he says the device ended up – even after he offered to donate 25% of his Bitcoin stash to charity if they let him.

He told the BBC: “It was a down time and there was a sinking feeling.”

6. Crypto King cheat

No one has lost Bitcoin as much as former billionaire crypto mogul, Sam Bankman-Fried. The founder of the largest crypto firm FTX was named Crypto King and popular with the public.

FTX was a cryptocurrency exchange that allowed people to trade real money for cryptocurrencies like Bitcoin.

His empire was worth an estimated $32bn and he was flying high until everything crashed within days.

The reporters discovered that Bankman-Fried's company was financially fragile and was illegally transferring FTX clients' money to finance another of his companies, Alameda Research.

Shortly before his arrest at his luxury apartment in the Bahamas in December 2022 he spoke to reporters. He told the BBC: “I don't think I committed fraud. I didn't want any of this to happen. I certainly wasn't as skilled as I thought I was.”

After being extradited to the US he was found guilty of fraud and money laundering and it was sentenced to 25 years.

7. The prosperity of the investment bank

Despite all the turmoil, Bitcoin continues to attract investors and large companies.

In fact, in January 2024, some of the biggest financial companies in the world added Bitcoin to their official list of assets as Spot Bitcoin ETF. These are like stocks and shares, which are linked to the value of Bitcoin but you don't have to own any.

Customers have been pouring billions into these brand new products. Companies including Blackrock, Fidelity and GreyScale, have also been there buying Bitcoins in their thousandsit increases its value to record height.

It's a major crypto milestone with some fans believing that Bitcoin is finally being taken as seriously as the mysterious Satoshi thought.

Still, few can hold back against more wild times as the Bitcoin story continues to unfold.