Born in 2009, Bitcoin has survived the collapses of Mt. Gox and FTX, regulatory crackdowns, internal conflicts and several market crashes. Its adoption by traditional finance accelerated after the US Securities and Exchange Commission approved the first spot Bitcoin exchange-traded funds in January 2024. Its price then broke above $100,000 for the first time and reached a record of more than $126,000 in October 2025, before growing institutional ownership raised concerns about decentralization. Bitcoin still faces major challenges, including the $6.3 billion Binance hack, the threat posed by quantum computing and the declining rewards paid to miners. The network’s survival will depend partly on its ability to maintain security as block subsidies trend toward zero and transaction fees must take over.
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