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U.In the present day – An enchanting piece of historical past for the primary and largest cryptocurrency, (BTC), just lately resurfaced. In keeping with Bitcoin historian Pete Rizzo, precisely 15 years in the past, you may purchase 12 Bitcoin for $0.01 — a mind-blowing worth in comparison with the present worth of Bitcoin.
Rizzo shared this enjoyable reality on social media platform X, sparking reflection within the crypto neighborhood about how far Bitcoin has journeyed by the years.
Bitcoin was launched in January 2009 by the pseudonymous creator Satoshi Nakamoto, and its worth was initially close to zero.
Within the early days of Bitcoin, there have been no exchanges that resembled these obtainable as we speak. In an early transaction, for example, 5,050 BTC had been exchanged for $5.02, providing an estimate of a worth of round $0.0009 per Bitcoin.
Bitcoin’s worth journey
Bitcoin traded for lower than a cent, shortly after its launch in 2009. In keeping with knowledge from the Bitcoin Dashboard, Bitbo, Bitcoin’s worth didn’t attain $1 a yr after it was launched; its highest worth for the yr 2010 was simply $0.39. In 2010, Laszlo Hanyecz made the legendary buy of two Domino’s pizzas for 10,000 BTC.
On Feb. 9, 2011, BTC touched $1.00 for the primary time in historical past. A couple of months later, in June, the value of a single Bitcoin reached $10, then $30 on Mt. Gox. This represents a 100x improve since 2011, when the value of Bitcoin was round $0.30. By the top of the yr, Bitcoin had rebounded to just a little below $5.
Bitcoin’s worth elevated dramatically in 2013, for the primary time since 2011. Bitcoin rose from $13 initially of the yr to roughly $250 in April. It subsequently cooled for a bit earlier than quickly appreciating once more to greater than $1,100 in December of that yr.
Bitcoin’s worth steadily elevated in 2017, culminating in a large blow-off excessive of practically $20,000. Bitcoin skilled one other large rally in 2021, hitting $69,000 in November of that yr.
Quick ahead to final month, and Bitcoin neared $100,000, reaching a document excessive of $99,728 on Nov. 22. On the time of writing, Bitcoin was buying and selling at $95,504.
This text was initially revealed on U.In the present day