It has been 18 years since the Bitcoin white paper was released. Eighteen years after Satoshi Nakamoto proposed an electronic cash system for transferring value without a central intermediary, Bitcoin's founding principles of decentralisation and supply limits are again drawing attention.

On Oct. 31 last month, blockchain outlet U.Today reported that Satoshi Nakamoto released a nine-page white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" on Oct. 31, 2008. It proposed a system that allows electronic value transfers between individuals without going through existing financial institutions.

The white paper became the basis for the launch of the Bitcoin network in January the following year. Satoshi mined the genesis block in January 2009, creating Bitcoin's first block. Bitcoin presented a new concept of a digital asset run without central authority and later influenced the emergence of thousands of cryptocurrencies and blockchain-based services.

To mark the 18th anniversary of the white paper's release, major companies and figures in the cryptocurrency industry also sent commemorative messages on social media platform X, formerly known as Twitter. Michael Saylor (마이클 세일러), chairman of Strategy, wrote, "Happy Bitcoin Whitepaper Day. 18 years."

Coinbase highlighted Bitcoin's issuance cap, saying, "21,000,000. Never more." It also described the 18th anniversary of the white paper's release as "the day that changed everything." Tether also mentioned that Satoshi left a nine-page document explaining Bitcoin to the world on Oct. 31, 2008. Uphold described it as "9 pages that challenged the entire traditional financial system."

What the industry commonly focused on was Bitcoin's limited supply structure. Bitcoin's total issuance is set at 21 million. Unlike existing currency systems, where a central bank or specific institution adjusts the money supply based on policy, Bitcoin is structured so new issuance decreases under predetermined rules. This scarcity is cited as a key feature that distinguishes Bitcoin from other digital assets.

Bitcoin was at a technical experiment stage when the network launched in 2009, without an official market price at the time. It later grew into a representative asset in the global digital asset market as exchanges and investment infrastructure expanded. It is now expanding points of contact with traditional financial markets, including exchange-traded funds (ETFs), beyond the cryptocurrency market.

CoinMarketCap said Bitcoin is currently trading at $77,310, and its market capitalisation was tallied at about $1.55 trillion.

The 18th anniversary of the white paper's release is becoming an occasion to look back at the principles and design from which Bitcoin began, beyond being a simple investment asset. In particular, the supply limit of 21 million and an operating structure that does not rely on a central institution remain core elements of its identity even 18 years after Bitcoin's birth.

21,000,000. Never more. Happy Bitcoin Whitepaper Day. https://t.co/JtKeHtCuSM