Bitcoin is the largest digital currency by market cap and one of the most popular cryptocurrencies that people know worldwide. Since 2008, Bitcoin has set the industry standard for what a cryptocurrency should represent, amazing people from all over the world with its creation. Cryptocurrencies have become very popular, and now people can even buy bitcoin with credit card. The primary option when it comes to investing is none other than Bitcoin.
Bitcoin was founded by Satoshi Nakamoto, who wanted to create a cryptocurrency that allowed peer-to-peer transactions. This virtual currency has taken the world by storm, and besides all the advantages that it brought to the world, a small part of its success is represented by its logo. You are probably familiar with the double-stripped B letter creatively written in white color on an orange circle. The orange symbol has become recognized everywhere around the world, but few know that its idea didn’t come out of the box instantly. Over the years, the Bitcoin logo underwent a significant evolution, changing its appearance from the first time Satoshi Nakamoto designed it.
Let’s delve deeper into the history of Bitcoin and its logo.
Bitcoin’s evolution
The birth of Bitcoin
In 2008, while the world was going through a financial crisis, Satoshi Nakamoto invented Bitcoin, the first digital currency ever created. Nakamoto adopted the concept and released a paper that described the way a cryptocurrency would operate, the date when the crypto would be released and the logic behind its creation. The paper was published on 31 October 2008, but the blockchain was launched on 3 January 2009. Because Satoshi released the paper first, he was able to present the idea of decentralization to the world before the release of the coin. In his opinion, decentralization meant that no one, like a central bank or the government, controlled the virtual coin. When Bitcoin was released, it had no monetary value.
The first transaction with Bitcoin
The first transaction made with Bitcoin was on 22 May 2010 by Laszlo Hanyecz. Lazlo paid 10,000 Bitcoins for two pizzas that cost around $25.00. Since that day, Bitcoins have been used for transactions over and over again. Although Laszlo could have gathered a little fortune with the Bitcoins he purchased pizza, this event has remained in the history of the crypto space, and each year, crypto supporters celebrate Pizza Day on 22 May.
Bitcoin’s Logo
Unlike the majority of brand logos, the design of Bitcoin always wanted to remain simple and use few shapes, minimal colors and just one letter. But even with these little components, the logo has attracted attention and is recognized globally for its eye-catching features. Bitcoin’s logo has changed over the years, and the way it is nowadays differs from how it was in the past. Additionally, there were two people behind the logo, Satoshi and Bitboy. Satoshi created the original and second versions of the logo before Bitboy came into play. Let’s discover more about the history of the logo.
The original Bitcoin logo
The first Bitcoin logo appeared in 2009 when the emblem comprised the letters “BC,” which were engraved on a gold coin. The first version had a simple graphic that made the viewer know exactly what the brand was about. With this design, Satoshi wanted to make people realize that digital coins can look exactly like their physical alternatives so that everyone would recognize that cryptocurrencies work like traditional currencies.
The second version of the Bitcoin logo
The second version of the logo appeared in 2010, when Satoshi enhanced the first model, making a second iteration of it. This version was released in February, and this time, the logo was inspired by the dollar sign. Satoshi kept the gold coin but removed the letter “C” and kept only “B.” The graphic of the letter changed as well, and this time, it contained two lines through the symbol, coming from the top and the bottom. Although Satoshi drew inspiration from the dollar sign, he kept it unique by not crossing the line of the “B” symbol.
The third version of the Bitcoin logo
In 2010, the logo was updated again, but the community was not satisfied with the second version. Bitboy, a member of the Bitcoin forum, designed the third iteration. He was inspired by the MasterCard logo and played around with the position, shape, color, font and border.
Bitcoin’s logo color
The logo of the largest cryptocurrency always featured four colors: gold, orange, white and black. In the current logo, the most prominent color is orange, but in the past, it was a gold hue. Satoshi chose gold at first because it represented exactly what Bitcoin was: digital gold. The color seemed right for Satoshi, as gold suggests success, wealth, victory, royalty, prosperity and magic. However, the color had a drawback: it was not very bold, so Bitboy opted for orange. Orange symbolizes joy, success, change and safety and can also evoke ambition, freedom and friendship.
The Bitcoin logo contains white, which is used to balance the boldness of the orange. White is very common in logos, as it evokes good and lightness.
Bitcoin’s logo symbols
The design of the logo is simple, but the symbols it contains are intentional. For example, the orange circle offers a frame around the logo. Bitcoin is a digital currency with the mission to allow people from around the globe to receive and send money digitally. This is represented nicely in the design, and the circle also suggests timelessness, eternity and infinity. The other symbol of the logo is the “B” letter, which describes precisely the cryptocurrency. The “B” letter has become a universal symbol for the first digital coin ever created that represents the entire Bitcoin network and even the whole crypto space.
Last words
Regarding the Bitcoin logo, there are a few words that describe it perfectly, which are relevant, distinct, classic and versatile. This is why the Bitcoin logo has quickly become one of the most recognizable symbols around the world.
