Bitcoin turns 17: from “hacker money” to a mainstay of institutional investors

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This week, Bitcoin celebrates its 17th anniversary—no longer a fringe experiment, but a pillar of global finance. The Bitcoin whitepaper, published by Satoshi Nakamoto on October 31, 2008, laid the foundation for a peer-to-peer digital currency without a middleman.

After 17 years, its influence has spread to governments, large corporations and institutional investors.

How Bitcoin Began in the Spirit of Resistance

Once XEM “hacker money,” Bitcoin is now part of the portfolios of many of the world’s largest financial institutions.

BlackRock alone holds about 3% of Bitcoin's circulating supply , while listed companies own a total of more than 725,000 BTC.

Private companies own about 300,000 more BTC , showing the cryptocurrency has penetrated deeply into corporate finance.

Sebastián Serrano, CEO and co-founder of Ripio, believes that Bitcoin's development has affirmed the faith of pioneers.

“When we founded Ripio in 2013, we knew the impact would be huge — and time has shown that. Seventeen years after the whitepaper, the results are undeniable,” he said.

Governments join ranks

Bitcoin’s reach has now reached into national treasuries. About 31% of the supply is held by centralized entities, including governments, ETFs, and public companies. This is a clear sign of “institutionalization.”

El Salvador still considers Bitcoin as legal tender, cementing its use beyond speculative purposes.

Michael Rihani, head of crypto at Nubank, said Bitcoin's integration into traditional finance has cemented its status as a legitimate asset class.

“This shift connects traditional finance with digital finance, expanding both accessibility and trust,” he explains.

Brazil's B3 exchange now lists Bitcoin ETFs and BDRs linked to global funds, giving traditional investors new access to the asset.

From financial instrument to political symbol

Bitcoin has also entered the political arena. US President Donald Trump — once a vocal critic — now accepts Bitcoin donations and has pledged to make the US a global hub for blockchain mining and innovation.

In Argentina, President Javier Milei promotes Bitcoin as “money returned to the people,” a bulwark against inflation and poor monetary management.

El Salvador's Nayib Bukele went further by declaring Bitcoin as legal tender and building national reserves with Bitcoin.

Those moves show that Bitcoin has moved beyond pure technology to become a political statement.

To reform leaders, it represents financial sovereignty and freedom. To regulators, it is a disruptive force that needs to be integrated—or controlled.

What's Next for Bitcoin?

Trading around $110,000 , Bitcoin has two paths ahead: consolidation and transformation. Institutional adoption continues to grow, and so does innovation.

Advances like the Lightning Network and Tokenize on top of Bitcoin's foundation layer could redefine how value is transferred globally.

All signs point to the same conclusion — Bitcoin is the most valuable and transparent asset of the past decade, with a fixed supply of 21 million coins.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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