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Bitcoin is the oldest cryptocurrency in the world and for some the only one necessary. But how expensive was the first BTC? A current overview.
In 2008, the idea of a digital cryptocurrency first gained momentum. A collective or individual, still unknown today, under the name “Satoshi Nakamoto” published a white paper on October 31st, which included the idea of a decentralized currency that would not be controlled by states or banks. On January 3rd, 2009, the first Bitcoin block was created – the so-called Genesis Block.
A trading platform opened where BTC could be bought, held or sold. The price of what is now the most important cryptocurrency was determined by the mining costs – due to the low demand, there was no official exchange rate at the time.
Definition: What is BTC?
Bitcoin (BTC) is a digital cryptocurrency released under the pseudonym Satoshi Nakamoto. It is the first decentralized digital currency based on blockchain technology. The blockchain is a public, decentralized and transparent database that stores all BTC transactions. It serves as a digital ledger to ensure the accuracy and immutability of transactions.
Unlike traditional currencies such as the USD or the euro, BTC is not controlled by a central authority such as a government or bank. Instead, BTC is managed by a decentralized network of computers called miners. These miners verify and confirm transactions by solving mathematical problems, thus securing the network. As a reward for providing energy and securing the BTC network from external attacks, miners receive new BTC when they add a new block to the blockchain. This reward is halved approximately every four years through what is known as halving.
Bitcoin has several characteristics that distinguish it from traditional currencies, including the limited total supply of just under 21 million BTC that can ever be created, the ability to split BTC into smaller units (called Satoshis or Sats), and the option to conduct transactions worldwide without intermediaries.
Since when has Bitcoin existed?
BTC became a digital reality on October 31, 2008. In a nine-page paper – the so-called BTC Whitepaper – one or more people under the pseudonym “Satoshi Nakamoto” described how BTC works. All of the currently existing cryptocurrencies are based on the functionality of a blockchain and the vision of a digital currency contained therein.
The limited number of BTC, which is just under 21 million, is not yet fully on the market. To be precise: there will be a maximum of 20,999,999.97690000 BTC. There is no exchange rate at this point. It is estimated that the last BTC created will be around the year 2140 after the last Bitcoin Halving is mined.
What is the peak of Bitcoin?
BTC reached its all-time high on December 5, 2024, with a price of 103,587.54 USD. A BTC has never been this expensive before. The market value of the cryptocurrency was almost two trillion dollars at that time, according to data from the analysis firm Coinmarketcap.
When did a BTC first cost 100,000 USD?
On December 5, 2024, BTC will break the 100,000 USD mark for the first time. The market capitalization reached about two trillion dollars at that time.
When did a BTC first cost 10,000 USD?
On November 28, 2017, BTC exceeded the 10,000 USD mark for the first time. The price peaked at 10,125.70 USD per Bitcoin. The market capitalization at the time was around 168 billion USD.
When did a Bitcoin first cost 1,000 USD?
On November 27, 2013, BTC reached a historic milestone. The value of the cryptocurrency exceeded the 1,000 USD mark for the first time, peaking at 1,001.96 USD per BTC. At that time, the market capitalization of the digital asset was just over 12 billion USD.
When did a BTC first cost 100 dollars?
On March 29, 2013, BTC broke through the magic barrier of 100 USD for the first time. The price peaked at 110.10 USD per Bitcoin and the market capitalization at that time was more than 966 million USD.
When did a BTC first cost 10 dollars?
On May 27, 2011, BTC reached the significant mark of ten dollars for the first time. A milestone for the still young cryptocurrency, whose price peaked at 10.13 dollars per Bitcoin. The market capitalization of the digital currency at that time was a good 58.2 million dollars.
How expensive was a Bitcoin in 2011? – A BTC cost one dollar for the first time in early February 2011
Bitcoin was first described in the media in February 2011. The price of the digital currency BTC climbed to one dollar for the first time on February 9, 2011. The price peaked at 1.0705 dollars. Bitcoin’s market capitalization on that day was almost 5.4 million dollars.
How expensive was a Bitcoin in 2010? – BTC price rises to eight cents per BTC
BTC receives a software update from a group of developers. This results in the starting price of BTC increasing tenfold from 0.008 to 0.08 dollars per BTC. The cyber currency reached this price on July 7, 2010.
How expensive was a Bitcoin in 2009? – In October 2009, you get 1309 BTC for one dollar
Because the blockchain was relatively short at the time , new BTC can be mined quite easily. On the crypto exchange New Liberty Standard, the price for 1309.03 BTC is one dollar. One BTC would therefore have cost the equivalent of around 0.00076 USD.
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