Bitcoin’s First Price: How Much Was It Really Worth?
I’ve been curious about the origins of Bitcoin and often hear people ask, “how much was a bitcoin when it first came out?” or “how much was bitcoin worth when it first came out?” I’m new to cryptocurrency and want to understand Bitcoin’s early value, especially since it’s now worth thousands of dollars. If anyone can explain Bitcoin’s price when it launched and how it evolved in the first few years, that would be really helpful!
1 Answer
Bitcoin’s Early Value
When Bitcoin was launched in January 2009, it actually had no official monetary value. It was mostly mined by tech enthusiasts who believed in the concept but didn’t trade it for dollars yet. The first recorded price came in late 2009, when someone traded 5,050 bitcoins for $5.02 via PayPal — that’s about $0.00099 per bitcoin, or less than a tenth of a cent!
The First Real-World Transaction
The famous “Bitcoin pizza” purchase happened in May 2010, when a programmer paid 10,000 bitcoins for two pizzas worth about $25. This transaction is often cited as the first time Bitcoin was used to buy something tangible, effectively setting a price of around $0.0025 per bitcoin at the time.
Price Growth in Early Years
Bitcoin’s price stayed under $1 for a long time but started rising in 2011, briefly hitting $29.60 before dropping back down. In 2013, Bitcoin broke $100 and then $1,000 for the first time, marking the start of major public interest and price volatility.
Summary
So, to answer your question, Bitcoin was worth almost nothing when it first came out—less than a penny per coin. It took a while before it gained real monetary value, with the first price around $0.00099 and the first purchase for goods at about $0.0025 per bitcoin. Since then, Bitcoin’s value has skyrocketed, reaching tens of thousands of dollars in recent years.
If you want to dive deeper into Bitcoin’s fascinating price history and how it evolved, check out BYDFi’s Bitcoin Price History for detailed charts and timelines.
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