12 Bitcoin for $0.01 Transaction Unfolded 15 Years Ago: Details

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As a seasoned crypto investor who has witnessed the birth and growth of Bitcoin since its humble beginnings, I can’t help but marvel at the incredible journey this digital asset has taken us on. Fifteen years ago, when I first heard about a cryptocurrency that could be bought for just $0.01, I must admit, I was skeptical. But here we are today, with Bitcoin trading at nearly $100,000.

A fascinating piece of history for the first and largest cryptocurrency, Bitcoin (BTC), recently resurfaced. According to Bitcoin historian Pete Rizzo, exactly 15 years ago, you could buy 12 Bitcoin for $0.01 — a mind-blowing price compared to the current value of Bitcoin.

On social media platform X, Rizzo posted an intriguing tidbit about Bitcoin’s past, initiating a thoughtful discussion within the cryptocurrency community regarding its remarkable evolution over time.

FUN FACT: 15 years ago today, you could buy 12 #Bitcoin for $0.01 ✨

— The Bitcoin Historian (@pete_rizzo_) December 2, 2024

Bitcoin, created anonymously by Satoshi Nakamoto in January 2009, initially held a value close to nothing.

Initially, Bitcoin transactions didn’t involve the sophisticated exchanges we have now. For example, in one of the earliest trades, approximately 5,050 Bitcoins were swapped for just $5.02. This trade roughly equated to a Bitcoin price of about $0.0009 per coin.

Bitcoin’s price journey

Back in 2009 when Bitcoin first debuted, its value was barely a penny. As per records from Bitcoin Dashboard and Bitbo, it took more than a year after launch for Bitcoin to hit $1; the highest price recorded that year was only $0.39. It’s worth noting that in 2010, an individual named Laszlo Hanyecz made history by buying two Domino’s pizzas using a whopping 10,000 Bitcoins!

On February 9th, 2011, Bitcoin reached its initial historic value of $1.00. Approximately four months later, in June, the price per Bitcoin soared to $10 and then $30 on Mt. Gox. This remarkable increase equates to a 100-fold rise since 2011, when the Bitcoin price was approximately $0.30. By year’s end, Bitcoin had bounced back slightly below $5.

In 2013, Bitcoin experienced a significant surge in price, marking its first such rise since 2011. The digital currency started the year at around $13, but skyrocketed to approximately $250 in April. After a brief pause, it regained momentum and soared past $1,100 by December of that year.

2017 saw a gradual climb in the value of Bitcoin which peaked at an impressive almost-$20,000, a significant spike. Similarly, Bitcoin surged again in 2021, reaching as high as $69,000 by November of that year.

Moving back to just a month ago, Bitcoin almost hit the $100,000 mark, peaking at an all-time high of $99,728 on November 22nd. Currently, Bitcoin is being traded at $95,504.

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2024-12-03 16:18