From two pizzas to major assets: 27 key drivers of Bitcoins 16-year rise

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链捕手
8 hours ago
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Who pushed Bitcoin from a pizza voucher to the top of the global asset today?

Original author: Fairy, ChainCatcher

Original editor: TB, ChainCatcher

Special note: This list is based on subjective evaluation of public information and is intended for fun discussion. It does not constitute investment advice or industry certification. Please refer to it rationally and read it easily. If you have any questions or clues, please contact us and we will continue to update.

Since Laszlo used 10,000 bitcoins to buy two pizzas on May 22, 2010, Bitcoin has grown from an experimental product of programming enthusiasts to a major asset class valued by global institutions, sovereign funds and even countries. Behind this is the continuous promotion of a group of key figures and institutions - some have been preaching for more than ten years, and some have introduced hundreds of billions of capital into BTC.

As Pizza Day approaches, we look back at the key drivers of Bitcoin’s 16-year rise. This list evaluates their actual contributions to BTC’s mainstream adoption from multiple core dimensions, and visually presents the far-reaching impact of each driver through a “star rating”.

The evaluation dimensions include:

  • Technical and conceptual contributions: whether it has promoted the technological progress or conceptual development of Bitcoin.

  • Market influence: Whether it has significantly influenced Bitcoin price or adoption through investments, products, or policies.

  • Community and Education: Whether to promote Bitcoin awareness through media, speeches or community activities.

  • Persistence and reputation: Whether you will continue to promote Bitcoin in the long term and maintain a positive image in the industry.

Let us review together, who pushed Bitcoin from a pizza voucher to the top of the global asset today?

From two pizzas to major assets: 27 key drivers of Bitcoins 16-year rise

Protocol Blacksmith

Origin coordinates: Satoshi Nakamoto

  • Identity: Founder of Bitcoin

  • Contribution dimensions: white paper release, network launch, coding development

  • Star Rating: ✭✭✭✭✭ (Hall of Fame)

The undisputed creator, the one who planted the seeds of technology and ideas, directly entered the Hall of Fame. Satoshi Nakamoto holds about 1.1 million bitcoins, accounting for about 5% of the total supply. His sleeping assets provide a symbol of stability for the market. He spread the concept of Bitcoin through the cryptography mailing group in the early days and retired after 2010.

Casey Rodarmor (Ordinals Protocol inventor)

  • Representative event: The Ordinals protocol was proposed in 2023, triggering the Bitcoin NFT craze

  • Impact Dimension: Opening the Pandora’s Box of Bitcoin’s “Non-Currency Uses”, Activating Developers and New Narratives

  • Star rating: ✭✭✭✭

Casey Rodarmor released the Ordinals protocol in early 2023, allowing users to engrave text, pictures and other data on the Bitcoin chain, which also led to the birth of new asset standards such as BRC-20, revitalizing the Bitcoin ecosystem. Although this has caused great controversy in the Bitcoin community, and some core developers believe that it pollutes the block space, it is undeniable that Ordinals broke the single narrative of Bitcoin and attracted the attention of a large number of developers, artists and capital.

Luke Dashjr (early BTC core developer)

  • Representative events: More than ten years of continuous participation in Bitcoin Core code maintenance and upgrades

  • Influence Dimension: One of the most experienced core developers, the “gatekeeper” guarding the Bitcoin protocol

  • Star rating: ✭✭✭

Luke Dashjr is one of the earliest BTC core developers and is still active. He has been contributing to the Bitcoin Core code since 2011, adding support for BIP 22 and 23 protocols and maintaining the Bitcoin Improvement Proposal section on GitHub. He released BFG Miner in 2014, which has become one of the most widely used implementations of Bitcoin mining.

Adam Back (Blockstream Co-founder CEO)

  • Representative events: Early cryptographer, inventor of Hashcash; later promoted the construction of infrastructure such as Bitcoin sidechain and lightning network

  • Impact Dimension: Dual Evangelism of Concepts and Technologies

  • Star rating: ✭✭✭✭

Adam Back is one of the few people who was named and paid tribute to in the Satoshi Nakamoto white paper. Hashcash, which he invented, is used in Bitcoins proof-of-work mechanism and has become one of the technical sources of the BTC consensus mechanism. He also promoted the development of key expansion and privacy tools such as Liquid sidechain and Lightning Network at Blockstream.

Roger Ver (Founder of Bitcoin.com)

  • Representative events: Early investment in blockchain startups; later leading the promotion of BCH fork

  • Influence: An early Bitcoin evangelist and also the most controversial representative of the “splitting faction”

  • Star rating: ✭✭✭

Roger Ver, known as Bitcoin Jesus, was the most radical evangelist and investor in Bitcoin in its early days, and made significant contributions to its global popularity and the spread of technical concepts. In 2017, he supported the Bitcoin Cash (BCH) fork and opposed Bitcoin Cores small block strategy, which caused the community to split and damaged his reputation.

Institutional Evangelist Wall Street Guide

Michael Saylor (Strategy Co-founder)

  • Representative event: Investing corporate assets in Bitcoin, with a total holding of over 150,000 Bitcoins

  • Impact Dimension: The pioneer of the asset allocation paradigm for listed companies, promoting the “corporate treasuryization” of BTC

  • Star rating: ✭✭✭✭✭

Since 2020, Michael Saylor has led Strategy to purchase a total of about 560,000 bitcoins (about 2.6% of the total supply), driving a wave of corporate investment, and his Bitcoin strategy has also caused the companys stock price to soar. Through interviews, Twitter (X) and crypto event summits, Saylor has become a global evangelist for Bitcoin, attracting institutional investors.

Larry Fink (CEO of BlackRock)

  • Representative event: Promoted the application of Bitcoin spot ETF and successfully obtained approval

  • Impact Dimension: Make BTC enter the compliance threshold of institutional investment and establish its reputation in the context of global asset allocation

  • Star rating: ✭✭✭✭✭

Fink called Bitcoin a money laundering tool in 2017, but began to take a sharp turn and embrace Bitcoin ETFs in 2023. BlackRocks Spot Bitcoin ETF (IBIT) was approved in 2024 and became the fastest-growing ETF in history, with more than $63.7 billion in assets under management, attracting traditional investors and pushing the price of Bitcoin above $100,000.

Barry Silbert (Founder of DCG)

  • Representative event: Create Grayscale Bitcoin Trust GBTC to guide institutional funds to enter the market early

  • Impact Dimension: Building a Trust Channel for Bitcoin has become an important transition on the eve of ETFs

  • Star rating: ✭✭✭✭

Grayscale, owned by Barry Silbert, was once the most important channel for promoting institutional compliance in currency holding. In 2013, he launched Grayscale Bitcoin Trust (GBTC) to provide institutions and retail investors with an investment channel without having to directly hold Bitcoin. By 2024, it was converted into an ETF, managing nearly US$20 billion in assets.

Jack Dorsey (Block founder, former Twitter CEO)

  • Representative events: In 2018, Cash App enabled Bitcoin trading, promoted Block (formerly Square) to purchase Bitcoin and hold it for a long time, and launched the Btrust Fund

  • Influence Dimension: BTC evangelist in Silicon Valley and the Internet circle

  • Star rating: ✭✭✭✭

Jack Dorsey is a firm believer in the concept of Bitcoin. Blocks Cash App has become an important entry point for millions of users to access BTC. He has also actively developed open source self-hosted wallets and mining hardware to promote the construction of Bitcoins decentralized infrastructure. The Btrust Fund he initiated supports developers worldwide, initially focusing on teams in Africa and India.

Cathie Wood (Founder, ARK Invest)

  • Representative events: Continuous application for Bitcoin ETF, publicly supporting the long-term value of Bitcoin

  • Impact Dimension: Driving a new generation of growth investors (especially tech stock investors) to pay attention to BTC

  • Star rating: ✭✭✭

ARK Invests ARKW ETF has invested in Bitcoin-related companies (such as Grayscale and Coinbase) since 2018. It began applying for a Bitcoin spot ETF in 2021, and the approved Bitcoin spot ETF ARKB in 2024 has assets under management of over US$5 billion.

Elon Musk (founder of Tesla, X, SpaceX)

  • Representative events: In 2021, Tesla announced the purchase of $1.5 billion in Bitcoin, and in the same year announced that it would accept Bitcoin payments (later suspended due to energy consumption issues).

  • Influence dimension: One of the most influential entrepreneurs in the world, his every move directly affects the sentiment of the crypto market

  • Star rating: ✭✭✭✭

Musk has played the role of an emotional promoter and circle-breaking amplifier in the history of Bitcoin. In 2021, Teslas decision to purchase Bitcoin triggered a wave of institutional follow-up and pushed the price of BTC to a new high. In addition, his support for the meme coin DOGE also helped push meme culture into the core stage of the crypto asset world.

Paul Tudor Jones (Legendary hedge fund manager)

  • Representative event: Publicly investing in Bitcoin in 2020, calling it the best asset to hedge against inflation

  • Impact Dimension: Opening the cognitive gate for traditional Wall Street capital is one of the turning points for Bitcoin institutionalization

  • Star rating: ✭✭✭✭

Paul Tudor Jones is one of the key promoters of Bitcoin institutionalization, accelerating the mainstream acceptance of Bitcoin with his macro investment vision and Wall Street influence. His investment has inspired institutions such as Bridgewater and JPMorgan to follow suit, attracting capital inflows from Wall Street.

Policy coordinate system adjuster

Nayib Bukele (President of El Salvador)

  • Representative event: Promote El Salvador to become the first country in the world to make Bitcoin a legal currency

  • Impact Dimension: Pushing Bitcoin from “asset” to “currency” status, opening up a paradigm for national adoption

  • Star rating: ✭✭✭✭✭

Nayib Bukele promoted the Bitcoin Law in June 2021, making El Salvador the first country to make Bitcoin a legal tender, allowing it to be used for taxation, payment, and debt settlement. The government launched the Chivo wallet, planned to build a Bitcoin city, and used volcanic geothermal energy to mine Bitcoin. Although this national practice has been controversial, it has undoubtedly become a turning point in the history of Bitcoin.

Trump (President of the United States)

  • Representative event: Promote the inclusion of Bitcoin in the national strategic reserve and promise to make the United States the capital of cryptocurrencies

  • Impact Dimension: Strengthening the status of Bitcoin with national administrative power and opening a new era of sovereign Bitcoin narrative

  • Star rating: ✭✭✭✭✭

During his 2024 campaign, Trump made a high-profile promise to make the United States the capital of Bitcoin. Early in his presidency in 2025, he signed an executive order requiring the Treasury Department to study the inclusion of Bitcoin in strategic reserves and accelerate the shift to friendly regulation. His policy stance not only reshaped the U.S. Bitcoin regulatory framework, but also heated up global policy discussions, and other countries also began to explore Bitcoin reserve plans.

Gary Gensler (Former SEC Chairman)

  • Representative event: Approved the first batch of Bitcoin spot ETFs in the United States during his tenure, ending a decade of veto

  • Impact Dimension: “Final Releaser” at the Regulatory Level

  • Star rating: ✭✭

Gary Gensler played a complex and controversial role in promoting Bitcoin policy. Between 2021 and 2023, he led lawsuits against exchanges such as Coinbase and Binance, accusing them of unregistered securities transactions, indirectly forcing Bitcoin-related companies to strengthen compliance and promote industry standardization. In 2024, under market and political pressure, Gensler approved 11 spot Bitcoin ETFs, which became a turning point in the mainstreaming of Bitcoin.

Cynthia Lummis (Chair of the U.S. Senate Digital Assets Subcommittee)

  • Representative events: Proposing the Bitcoin Strategic Reserve Act and promoting legislative reforms to the cryptocurrency regulatory framework

  • Impact Dimension: Bitcoin legislation supporter, committed to developing a clear policy framework to protect the crypto market

  • Star rating: ✭✭✭

Cynthia Lummis is a leading figure in the US policy circle, promoting the standardization of Bitcoin policies through legislation and regional experiments. Under her promotion, Wyoming has become a crypto-friendly state, and the state will issue the first state-level stablecoin in the United States in July.

Hester Peirce (U.S. SEC Commissioner)

  • Representative events: advocating for a clearer regulatory framework for the cryptocurrency market and supporting the launch of a Bitcoin ETF

  • Impact Dimension: Advocate for regulatory reform, advocating for a more relaxed and flexible regulatory environment for the crypto market

  • Star rating: ✭✭✭

Hester Peirce is known as the Crypto Mom. She has long supported the legalization of cryptocurrency assets within the SEC and promoted the approval of innovative financial products such as Bitcoin ETFs. Peirces views have a strong influence in the industry and have become an important force in promoting the legalization of the crypto industry.

Leung Fung-yee (Chief Executive Officer, Securities and Futures Commission of Hong Kong)

  • Representative event: Promoting Hong Kong’s virtual asset platform licensing system and strengthening cross-border regulatory cooperation

  • Impact Dimension: Guiding crypto regulatory policies in the Asia-Pacific region, balancing innovation and risk control

  • Star rating: ✭✭✭

Leung Fung-yee has established Hong Kong as a global crypto hub with a clear regulatory framework and forward-looking policies. She led the implementation of the virtual asset trading platform licensing system, approved Asias first batch of spot Bitcoin and Ethereum ETFs in April 2024, and plans to launch a stablecoin regulatory framework.

Wu Jiezhuang (Member of the Legislative Council of Hong Kong)

  • Representative events: Proposing to set up a HK$100 million fund to support the Web3 industry, and promoting “Digital Pass” to allow mainland investors to buy and sell digital assets recognized by Hong Kong

  • Impact Dimension: Advocate for compliance innovation in the field of virtual assets and promote the Hong Kong crypto ecosystem

  • Star rating: ✭✭✭

Wu Jiezhuang is one of the key figures in Hong Kongs political and business circles in promoting the development of the digital economy and virtual assets. He is the chairman of the Hong Kong Legislative Councils Web3 and Virtual Asset Development Subcommittee. He has proposed the establishment of a HK$100 million fund to support the Web3 industry and the promotion of Digital Pass to allow mainland investors to buy and sell digital assets recognized by Hong Kong.

Crypto OGs and Platform Promoters

Brian Armstrong (Coinbase Co-Founder)

  • Representative events: Founded Coinbase and built it into the largest crypto-compliant trading platform in the United States. The platform was successfully listed and included in the SP 500 index

  • Impact dimension: Coinbase is a representative of the US regulatory compliance route, providing an entry point for retail investors and institutions

  • Star rating: ✭✭✭✭✭

Brian Armstrong is one of the key figures in the crypto worlds move toward compliance and capital markets. In 2021, Coinbase went public, and recently Coinbases stock was included in the SP 500 index, becoming an important milestone in the industrys integration with Wall Street. It also supports spot Bitcoin ETFs such as BlackRock and Fidelity through Coinbase Prime and custody services, consolidating the institutionalization of Bitcoin.

Jihan Wu (Founder of BitDeer and Matrixport)

  • Representative events: Founded Bitmain, BitDeer, and Matrixport, and dominated the mining industry landscape

  • Impact Dimension: Promoting the security and computing power growth of the Bitcoin network by providing efficient mining equipment

  • Star rating: ✭✭✭✭

Wu Jihan is known for translating Satoshi Nakamotos original Bitcoin white paper and is an important figure in promoting the industrialization of Bitcoin. The Bitmain he founded once controlled more than 70% of the worlds computing power and was one of the earliest capital promoters of Bitcoin. However, he insisted on the large block route and supported the BCH fork, which caused the community to split. The internal strife in Bitmain led to his withdrawal from management in 2021.

Li Lin (Founder of Huobi)

  • Representative event: Founded Huobi.com and promoted the early popularization of Chinas crypto market

  • Impact dimension: Huobi was once one of the largest trading platforms in the world, promoting the popularity of Bitcoin in Asia

  • Star rating: ✭✭✭

Li Lin played an important role in promoting Chinas early crypto market. In 2014, he shared the stage with Wu Xiaoling, a member of the Standing Committee of the National Peoples Congress, at the Sanya International Finance Forum to publish The Development and Prospect of Cryptocurrency to promote the financial potential of Bitcoin. In 2020, he was investigated due to regulatory pressure and withdrew from Huobi shareholders and management in 2022.

Changpeng Zhao CZ (Founder of Binance)

  • Representative event: Founding Binance, which quickly developed into the worlds largest cryptocurrency exchange

  • Impact Dimension: Provide diversified transaction services and promote the circulation and adoption of Bitcoin worldwide

  • Star rating: ✭✭✭✭✭

Changpeng Zhao is well-known for his great contributions to the construction of global exchanges and the popularization of Bitcoin. In 2017, he founded Binance and built a complete ecosystem of public chains, wallets, incubators, stablecoins, etc. Although he resigned from the CEO position of Binance due to heavy regulatory pressure, CZ has long promoted the popularization of Bitcoin and encrypted assets, and his personal influence spans retail investors, project parties and regulatory circles.

Star Xu (Founder of OKX)

  • Representative event: Founding OKX, providing diversified cryptocurrency trading services

  • Impact Dimension: Asian crypto trading structure innovator, promoting the development of contracts and derivatives business

  • Star rating: ✭✭✭✭

Star Xu founded OKCoin (later developed into OKX) in 2013, and became one of the worlds largest Bitcoin trading platforms in 2014. He is the author of books such as Blockchain in Pictures and Token Economy. In 2020, he was restricted by the equity merger and acquisition investigation and withdrew from the board of directors of OKEx in 2022.

Marty Bent (Podcast Host)

  • Representative events: Managing partner of Ten31, operating the podcast Tales from the Crypt, promoting the in-depth dissemination of Bitcoin concepts

  • Impact Dimension: Spreading Bitcoin culture through podcasts, media and educational content has a profound impact on the grassroots community and developer ecosystem in the United States.

  • Star rating: ✭✭

Marty Bent uses words and microphone to convey the values of Bitcoin and is an important guardian of the spiritual core of Bitcoin. Marty Bent is the former head of Great American Mining. He actively promotes the use of waste energy to mine Bitcoin and advocates the combination of energy recycling and decentralized network security.

Jimmy Song (Bitcoin educator, developer, and entrepreneur)

  • Representative events: Global speeches and publication of multiple Bitcoin books

  • Influence dimension: A bridge between technology popularization and concept dissemination, connecting developers and the public

  • Star rating: ✭✭

Jimmy Song was once a contributor to Bitcoin Core. Later, he focused on education and publicity. He published books such as Programming Bitcoin and Thank God for Bitcoin, and gave speeches at global conferences all year round to promote Bitcoin.

Andreas M. Antonopoulos (Bitcoin educator, author)

  • Representative events: publishing classic works such as Mastering Bitcoin and Internet Money, and giving speeches around the world to popularize the concept of Bitcoin

  • Influence Dimension: A cornerstone figure in building public awareness of Bitcoin

  • Star rating: ✭✭✭✭

Andreas M. Antonopoulos is one of the most influential educators in the Bitcoin community. He has written more than 200 articles on Bitcoin and has given dozens of lectures around the world, promoting Bitcoin as the cornerstone of decentralized finance and influencing global policy discussions.

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