Over a decade, the bright orange Bitcoin (BTC), logo has been synonymous with financial freedom in a time of recession and tight governmental oversight. The development of the Bitcoin “BTC” logo is well documented online, and this is in contrast to the mystery surrounding Bitcoin’s origin.
The first version of the Bitcoin logo was created 13 years ago by Satoshi Nakamoto. It featured a gold coin with an embedded “BC” text in the middle.
On February 24, 2010, Nakamoto created a new Bitcoin logo. It replaced the “BC” text and included “BTC” within the gold coin.
Satoshi Nakamoto’s second attempt at the Bitcoin logo. Source: bitcointalk.org
Satoshi then made changes to the logo based on feedback from the community and released the free-of-copyright images into the public domain. After a brief period, the logo was accepted as the official Bitcoin logo.
Satoshi Nakamoto implements design changes based upon community feedback. Source: bitcointalk.org
Because the Bitcoin ecosystem is decentralized, the public can contribute to it in many forms. This includes logo design. Bitboy, a member of the Bitcoin community, released a new version of the Bitcoin logo that was based on Satoshi’s design. The designer decided to replace the gold coin by the iconic orange circle, and tiled the “BTC” logo 14% clockwise.
bitboy’s design a.k.a. official Bitcoin logo. Source: bitcointalk.org
Bitboy’s design has been the official logo of Bitcoin for the past 12 years due to overwhelming community support. Bitboy released the finalized Bitcoin logo.
“Now anyone can use the graphics for any purpose, even commercial. This license is not restricted.”
Bitcoin enthusiasts continue to release new logos, but the BTC community has yet not found a symbol that is as close to the orange BTC.
Related: The Bitcoin ecosystem recovers from the collapse of global ATM installations
After a steady decline throughout 2022, Bitcoin ATM installation saw a sharp recovery in June.
Chart showing monthly net changes in the number of crypto machines installed and deleted. Source: Coin ATM Radar
The graph above shows that the May 2022 drop was greater than what was seen last year in 2019. The last two years have seen Bitcoin ATM installation growth in 2020 and 2021. This was due to a more friendly regulatory environment, which has been accompanied by a lucrative market where many cryptocurrencies reached their highest point.