Basil was a porphyrogennetos emperor of the fifth generation of the Macedonian dynasty, along with his younger brother, Constantine VIII. Their father, Romanos II, having died in 963, Basil II and Constantine VIII were only theoretically emperors under the "regents" Nikephoros II Phokas and John I Tzimiskes from 963-976; Basil only appearing on the earlier gold coins of the former. From 976 until his death in 1025, Basil was both theroetically and in practice Byzantine Emperor.

His sole reign is most noted for his military conquests, especially in Bulgaria, which earned him the epithet 'Bulgaroktonos', or 'the Bulgar slayer'. He also had military successes against revolts. Diplomatically, his reign saw the conversion to Christianity of Vladimir the Great of Kiev in 988/9, in conjunction the latter's marriage to Basil's porphyrogenneta sister, Anna. Basil's status as a porphyrogennetos emperor - an emperor born in the purple room of the Imperial Palace to a reigning emperor - is emphasised on his coinage, perhaps to distinguish him in his legitimacy from John I and Nikephoros II.

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