Bitcoin is the first cryptocurrency launched. Satoshi Nakamoto introduced Bitcoin in October 2008 by integrating existing cryptographic techniques. Since then, Bitcoin has undergone rapid growth to become the world’s largest cryptocurrency. From $0.00099 during the first exchange to reaching $97,600 now, the journey of Bitcoin is enduring. Similar to the price journey, Bitcoin has undergone many logo changes, from a gold coin with the letter BC on it to a bright orange ₿. In this article, we discuss the journey of Bitcoin Logo.
Table of Content
- Bitcoin Logo History.
- The First Bitcoin Logo.
- The Second and Updated Bitcoin Logo.
- The Third and Current Bitcoin Logo.
- The Design Features of the Bright Orange ₿.
Bitcoin Logo History
Bitcoin is the leading face of cryptocurrency trading. Offering seamless financial transactions, with high security and low fees Bitcoin has gained huge momentum since its launch. The enduring popularity of Bitcoin has led to the change of the logo many times, keeping that a logo has to attract people and travel with time. Since Satoshi Nakamoto’s logo which is a gold coin engraved with BC, the Bitcoin logo has changed with time, more precisely three times in 14 years.
The First Bitcoin Logo
The First Bitcoin Logo was designed by the coin founder Satoshi Nakamoto himself. The logo features BC engraved on a gold coin. According to Satoshi, the symbol mimics the functionality of fiat currencies showcasing the coin’s capability of serving similar purposes to physical currencies. The design approach is known as Skeumorphism philosophy, a philosophy that uses a visual approach to mimic physical objects. The first logo was launched in 2009.
The Second and Updated Bitcoin Logo
After a year of its launch, Bitcoin’s popularity has laid the foundation for a strong Bitcoin community. During the Bitcoin Talk Forum of 2010, many community members suggested a logo change. Being a decentralized platform, every member of the community shares an equal role in decision-making and everyone’s view must be considered. During the forum, one member suggested using the Thai Baht currency symbol (฿) as the Bitcoin logo. However, others stood against claiming it would lead to confusion.
Satoshi valued the community feedback and modified the Bitcoin Logo in February 2010 by removing the letter C from the initial logo and adding some modifications. The new logo features a gold goin with B embedded on it. Though Satoshi did not accept the suggestion of the member to use the Thai Baht currency symbol, some people find the new symbol holds similarities to the Baht, while others portray a similarity to the dollar symbol. The letter B has two vertical lines above and below but does not cross the letter completely.
The updated Bitcoin logo amplifies the link between two important financial assets, gold and the US dollar.
The Third and Current Bitcoin Logo
The updated version of the Bitcoin Logo received mixed reactions from the community, though some supported the updated logo others criticized it claiming it lacked professional features. Being a decentralized platform, all the participants can provide suggestions and even design the logo, though approval of the logo requires a majority of support from the community.
In November 2010, an anonymous person named Bitboy launched a new version of the Bitcoin logo, however, the unique symbol ₿ remains unchanged.
The new version replaced the gold coin with an orange circle and the color of the ₿ changed to white. With the previous version, the ₿ was placed straight in the coin, but in the newer version, the ₿ is tilted 14 degrees clockwise. The new symbol got wide support from community members, the Bitboy-designed logo became the official logo of Bitcoin.
The platform is decentralized so the logo also becomes decentralized, which means it is not owned by anyone. Everyone can use the symbol for both commercial and personal purposes.
Read More: Satoshi Nakamoto’s Design on Next Bitcoin Halving: What to Expect in 2028?
The Design Features of the Bright Orange ₿
Following are the main design features of the Bright Orange ₿ of Bitcoin;
Font
The new emblem of the Bitcoin with an incomplete stroke represents the transition to Bitcoins. The text features a slant lowercase inscription with a unique color theme and the letter is written in Ubuntu Bold Italic.
Color
The color scheme of the coin symbolizes different attributes. The background color, orange represents creativity, success, safety, freedom, and ambition. The white color balances the ₿ symbol and the background color. The white color showcases lightness and possibilities.
Symbol
The orange circle acts as a frame around the logo, symbolizing the mission of Bitcoin to serve people across the globe to send and receive money digitally. The orange color is inspired by MasterCard. The circle depicts infinity and timeliness.
The new bright orange ₿ is now used to represent the entire Bitcoin network and sometimes the whole crypto world.
Final Thoughts
Though the current Bitcoin symbol is gaining huge traction, many investors and community members are demanding a new symbol. The surreal growth of Bitcoin is combined with the legacy of the bright orange ₿, witnessing a price shift from $0.23 to $97,600. However with the continuing changes in the Bitcoin platform, including the integration of fungible and nonfungible tokens, the chances of changing the logo can’t be unseen.