Assets, Bitcoin

How Much Was 1 Bitcoin at the Start?

In 2009, a programmer (or group of programmers) under the pseudonym Satoshi Nakamoto released a white paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This paper detailed a method of using a decentralized network of computers to keep track of a digital currency, which Nakamoto called bitcoin.

In January 2009, Nakamoto released the first bitcoin software and created the first units of the currency, called bitcoins.

Since then, the price of one bitcoin has fluctuated wildly, growing from a few cents to more than $19,000 in December 2017 before falling back below $7,000 in early 2018. Despite these volatile swings, the overall trend for bitcoin has been upward, making it one of the most successful investments in recent years.

So how much was one bitcoin worth at the start? Prices for bitcoin were not widely published until after its launch in 2009. The first recorded price was in October 2009 when two pizzas were purchased for 10,000 bitcoins.

At the time, this was equivalent to about $25. Today, those 10,000 bitcoins would be worth more than $200 million.

In general, early investors in any new technology or asset are typically rewarded handsomely as that asset grows in popularity and value. This has certainly been true for investors in bitcoin.

Those who bought even a small number of bitcoins when it was first released would now be sitting on a fortune.

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